America's wealth gap is rooted in racism: U.S. media

WASHINGTON, April 25 (Xinhua) -- Income inequality grew substantially in the United States during the COVID-19 pandemic, as the country's billionaires got 70 percent richer, according to a recent article by The San Francisco Public Press.

"While this economic chasm continues to expand, much of it is grounded in discriminatory economic practices dating back to the early 20th century that made it difficult for members of racial minorities in the U.S. to accumulate wealth -- or to keep what they were able to acquire," said the article on Friday.

It cited San Francisco, home to 77 billionaires but more than 34,000 homeless people across the Bay Area and more than 800,000 live in poverty.

"That's a problem for everyone because research has shown that large disparities in income can exacerbate social ills," the article added.