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Barfer: How the Racial Wealth Gap Hurts Children of Color
Henry Louis Gates' "The Root" ^ | 6 April | Lui

Posted on 04/12/2011 8:55:35 PM PDT by flowerplough

...Household wealth -- what is owned minus what is owed -- is important to children because it allows their parents to afford high-quality early education, save for their college tuition, help them with a down payment or leave them an inheritance. According to the latest data, black households with children hold only 4 percent of the wealth of white households. And things keep getting worse.

A new study from the Insight Center for Community Economic Development looks at U.S. households with young children. More than half of white families had incomes that were more than 185 percent of poverty levels and owned multiple assets, such as savings accounts, homes and investment portfolios, but only 14 percent of African-American families were similarly situated.

Following the same children over 13 years, it was found that the gap increased as the children grew older. In 1994 white households had $25,000 more in median wealth than African-American households, but by 2007 the gap had nearly doubled to $47,000 -- enough to pay for one child's college tuition and fees for four years.

Besides not being able to afford college, an economically vulnerable child of color is less likely to be prepared for a postsecondary education. The Insight Center study connects the dots between levels of wealth and various markers of a child's readiness for school, using the Early Childhood Longitudinal Study, Birth Cohort, which followed the same 14,000 children from their birth in 2001 until age 5.

(Excerpt) Read more at theroot.com ...


TOPICS: Conspiracy; Education
KEYWORDS: mrskippy
Peggy Joseph on free stuff, October '08:

"I never thought this day would ever happen. I won’t have to worry about putting gas in my car. I won’t have to worry about paying my mortgage. You know. If I help [Obama], he’s gonna help me.”

1 posted on 04/12/2011 8:55:37 PM PDT by flowerplough
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To: flowerplough

If most black households have only 1 parent, no wonder they have less money.

A real DUH moment for this “study”


2 posted on 04/12/2011 8:59:04 PM PDT by icwhatudo ("laws requiring compulsory abortion could be sustained under the constitution"-Obama official)
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To: flowerplough
How the Racial Wealth Moral Values Gap Hurts Children of Color


OK its fixed now!

3 posted on 04/12/2011 9:02:35 PM PDT by Nat Turner (I can see NOVEMBER 2012 from my house....)
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To: flowerplough
I hate to prejudge but just knowing this is from Henry Lewis Gates you know it's gonna be BS. I'll hold my nose and read it anyway. If I'm wrong I come back and do a mea culpa.
4 posted on 04/12/2011 9:03:04 PM PDT by truthguy (Good intentions are not enough.)
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To: flowerplough

Sounds like a good reason for children of color to take advantage of the free public education and get a diploma.


5 posted on 04/12/2011 9:05:59 PM PDT by TigersEye (Who crashed the markets on 9/15/08 and why?)
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To: Nat Turner

BINGO!


6 posted on 04/12/2011 9:06:04 PM PDT by doc1019 (Palin/Bachmann, unbeatable.)
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To: flowerplough

And whose fault is this?

The evil, successful white family, or, the 16 year old black girl who can’t keep her panties on, the 17 year old black boy who can’t keep his pants on, who leaves the moment she’s pregnant to go impregnate another ‘ho’ and repeat the cycle?


7 posted on 04/12/2011 9:06:12 PM PDT by RockinRight (I didn't see Swedish people knocking down the World Trade Center - The Donald)
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To: flowerplough
Wealth = unspent money

The only way you have unspent money is if you don't piss away every penny you get your hands on.

Basically, responsible people who save owe their savings to irresponsible people who piss everything away.

8 posted on 04/12/2011 9:06:24 PM PDT by E. Pluribus Unum (When and why did Steve Dunham change his name to Barack Hussein Obama? When he converted to Islam?)
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To: TigersEye

And keep their pants on until they’re married and stable.


9 posted on 04/12/2011 9:06:46 PM PDT by RockinRight (I didn't see Swedish people knocking down the World Trade Center - The Donald)
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To: icwhatudo
If most black households have only 1 parent, no wonder they have less money.

Just what I was about to post! I can almost guarantee that more of the black households were one parent - but I will also guarantee that this particular information was not "considered" to be part and parcel to the results (at least, not the results they were trying to publish)!!!
10 posted on 04/12/2011 9:06:52 PM PDT by ExTxMarine ("Convictions are more dangerous to truth than lies." ~ F. Nietzsche)
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To: icwhatudo

Well if they would stay the hell out of prison and get married like normal folk, they wouldn’t have this problem...


11 posted on 04/12/2011 9:07:21 PM PDT by babygene (Figures don't lie, but liars can figure...)
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To: flowerplough
It's a natural consequence of reaching one’s goal of getting old enough with illegitimates to get welfare, WIC, etc.
12 posted on 04/12/2011 9:09:05 PM PDT by lonestar (It takes a village of idiots to elect a village idiot.)
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Comment #13 Removed by Moderator

To: flowerplough

Perhaps it is because in many white familes there is both a Dad and a Mom who both work instead of just Mom doing it on her own with no support at all from Dad? I was just talking with my Hubby and I wondered out loud if no one had ever told a liberal that life is not fair and can’t be made that way?


14 posted on 04/12/2011 9:16:35 PM PDT by chris_bdba
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To: flowerplough

Perhaps it is because in many white familes there is both a Dad and a Mom who both work instead of just Mom doing it on her own with no support at all from Dad? I was just talking with my Hubby and I wondered out loud if no one had ever told a liberal that life is not fair and can’t be made that way?


15 posted on 04/12/2011 9:16:52 PM PDT by chris_bdba
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To: babygene

“Well if they would stay the hell out of prison and get married like normal folk, they wouldn’t have this problem...”

I see great opportunities in the future for “persons of color” who are willing to work hard and follow this path. They can get into a trade and start socking away money years before their idiot white cohorts will even START paying off their $60,000 dollar Political Science (with a Theater minor!) degree at $7.50 an hour working at Mickey D’s.


16 posted on 04/12/2011 9:19:22 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: TigersEye

Considering the state of public education and the schools that furnish such, I doubt they have a chance. Especially if they have to go to a school in the progressive inner (?) city schools that seem to be the norm in our midst today.


17 posted on 04/12/2011 9:19:32 PM PDT by doc1019 (Palin/Bachmann, unbeatable.)
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To: flowerplough

Color—blah blah blah—victims—blah blah blah—race-—disadvantaged—blah blah blah—white privilege blah blah blah.
Many Americans are getting tired of it.


18 posted on 04/12/2011 9:22:44 PM PDT by two23 (Liberals Have Created a Culture of Lies)
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To: flowerplough
Did they count the "Bling"?

Things might even out some...

19 posted on 04/12/2011 9:32:33 PM PDT by ZOOKER ( Exploring the fine line between cynicism and outright depression)
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To: flowerplough

Yes, the reason for the poverty is the almost total absence of a stable two parent family.

I suppose this being 2011 I must add that two parent means the one mom and the one dad.


20 posted on 04/12/2011 9:44:14 PM PDT by Persevero (Homeschooling for Excellence since 1992)
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To: two23

If any minority that is considered disadvantaged manages to make it out of high school they can get a free college education.

It is up to them and the ball is in their court. Problem is many of them come from broken homes or single parent homes.


21 posted on 04/12/2011 9:45:53 PM PDT by lone star annie
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To: The Antiyuppie
I see great opportunities in the future for “persons of color” anyone who are is willing to work hard and follow this path. there, fixed that for you
22 posted on 04/12/2011 10:08:53 PM PDT by sawmill trash
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To: flowerplough

Maybe if they were to stay in school, take responsibility, and do something besides take drugs, pah-tay and dance, they might get the money to raise their kids.


23 posted on 04/12/2011 10:39:13 PM PDT by FrankR (The Evil Are Powerless If The Good Are Unafraid! - R. Reagan)
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To: flowerplough

How much does that tenured Harvard professorship pay, Prof. Gates? Maybe you should pay 100% of your income to the government, call me when you’re ready to write that check.


24 posted on 04/12/2011 11:15:25 PM PDT by wac3rd (Somewhere in Hell, Ted Kennedy snickers....)
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To: Chunkabunka

Many rich people have horrible and or non-existent “moral fiber”. One cannot simply blame a supposed lack of morals for one’s economic status.

 

As a “person of color”, I will share my observations and comments on why I stated the key in this debate is moral fiber. Being rich is not the same as being wealthy, and YES lack of morals does matter.

 

Please do not take my points to infer that I am a communitarian, collectivist or believe in simple foolishness like social justice or collective salvation. You can infer that I am a believer and know that right and wrong exist and that there are moral absolutes! You, of course are more than free to believe what you wish.

 

Blame and responsibility are concepts that are crucial both to conservative thought, but also economic prosperity. They work that way in an individual and not collective manner. We have folks across America, blaming others and not taking responsibility for their actions. I do not have to point them out since you can Google their blogs, scan you-tube or read their articles in the New York Times.  I was raised NOT to blame others for choices and actions that I am responsible for. That in a nutshell, is moral fiber.

 

Sure we often have celebrities and (those evil) rich folks that wallow in moral turpitude, decadence and self-indulgence, but still seem not to lack for material items.  This talk is not about that! It is about people that make choices not grounded in morals and then wanting the system to bail them out. (Like GM. AIG and the State of California). The comment I posted was directed at an article that wants to excuse poor behavior and I was not going there….


25 posted on 04/13/2011 4:24:40 AM PDT by Nat Turner (I can see NOVEMBER 2012 from my house....)
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To: flowerplough

The most of the comments that followed were far more enlightened than the article.


26 posted on 04/13/2011 4:34:17 AM PDT by Thrownatbirth (.....Iraq Invasion fan since '91.)
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To: TigersEye

You should have put “free” in quotes.


27 posted on 04/13/2011 5:10:13 AM PDT by goldi (')
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To: flowerplough

What hurts “children of color” is being stuck in a dysfunctional culture.


28 posted on 04/13/2011 5:52:09 AM PDT by SWAMPSNIPER
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To: goldi

Why? Poor people don’t pay anything for public schooling.


29 posted on 04/13/2011 2:02:18 PM PDT by TigersEye (Who crashed the markets on 9/15/08 and why?)
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To: TigersEye

But people who pay property taxes do so it’s not “free.”


30 posted on 04/13/2011 4:42:57 PM PDT by goldi (')
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To: flowerplough

The problem would mostly go away if the mothers would stop having children out of wedlock.


31 posted on 04/13/2011 4:47:39 PM PDT by PapaBear3625 ("It is only when we've lost everything, that we are free to do anything" -- Fight Club)
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To: goldi

It’s free to the people this article is about.


32 posted on 04/13/2011 5:11:07 PM PDT by TigersEye (Who crashed the markets on 9/15/08 and why?)
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To: TigersEye

Isn’t it ashame they don’t take advantage of it? It’s the least they could do.


33 posted on 04/13/2011 5:24:20 PM PDT by goldi (')
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To: goldi

Yes, that is the point I was making.


34 posted on 04/13/2011 6:06:42 PM PDT by TigersEye (Who crashed the markets on 9/15/08 and why?)
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Comment #35 Removed by Moderator

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