Posted on 04/19/2012 3:05:09 PM PDT by Sam Gamgee
The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009....
(Excerpt) Read more at pewsocialtrends.org ...
My reaction as well. Note it's the median white wealth vs. the median black wealth, not income, and wealth can be negative I presume. Could be a case where a much larger fraction of nonwhite households are "underwater", so that the median wealth is positive, but very low. Thus by shifting upward from zero, or break-even, the median white wealth could be a large multiple of the median nonwhite wealth, even though modest. E.g. could be $10,000 vs. $500, or something like that.
Yes, I think so. But I don't think it's because "the bottom half suffers most". I think it's because the bottom swells with newfound sufferers, pulling the medians in each category closer to zero where the ratios can swing wildly.
But they vote for the donkey anyway.
Great point on the Defined benefit plan.
You answered your own question. With economic fluctuations the ability of the diligent and constructive to increase their net worth also varies.
The fundamental character attributes I cited are bedrock fundamentals for wealth accumulation, and like it or not, are often starkly different in a juxtapostion of the groups cited.
These stats don’t mean anything without a lot more information. School drop out rates, single family homes with no dad, violent and property crime rates, illegal immigrants in included in the survey who can not legally work in the US... The number of white people close to retirement who have saved retirement nest egg - age of people in survey matters as young have less assets than the old, etc. Whites as a group are older than are Hispanics and Blacks. White population is older and been saving longer. So you have to compare assets of young blacks and young hispanics to young whites.
The short cut solution to this kind of mindless race baiting will be to discriminate against young whites in opportunity and jobs and other socialist racist oppression. The Dems are dreaming of taking retirement funds from white retirees and pooling it to be spread out to bring racial equality in outcome of retirement income. They want to deny Social Security payments to whites who have an unequal race outcome in their retirement funds with minorities.
The “rich” whites are older people with retirement nest eggs and houses they have worked to pay off for retirement.
Young whites compared to young blacks and hispanics wealth is not as drastic. Compare people of equal age, family make-up, education, equal crime rates and exclude illegal aliens and immigrants.
agreed.
age has more to do with it than anything else.
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