A House Divided (Why Middle-Class Blacks Have Less Wealth)

Washington Monthly ^ | Jan/Feb 2013 | Thomas J. Sugrue

[Sir Napsalot]

Isn't that the same (similar) story we have here in Philadelphia? So far Philly has not gone as dramatic as Detroit, but the downward spiral can not be repaired.

You live and work in the city, you take what they dish out to you. What you read about corruption/extortion in Philly, it's all true, and probably just scratched the surface, not the worst of it.

[ronnie raygun]

Because there living in the projects to show thier peeps thier down with the cause while buying designer clothes flat screen tvs, stereos and new flashy cars. Savings accounts? are you serious! Does stupid enter into this conversation? livin the gangster life on amiddleclass income. Just cant seem to shake the getto

[BRL]

Wealth differences, for the most part, reflects judgment differences. Wealthy people have made better (financial) value judgments than poor people. The book "The millionaire next door" discusses how wealthy people get wealthy. In the end wealth is accumulated through years and years of good judgment.

It is easy to talk about wealth discrepancies but how do you talk about wisdom discrepancies?

You can't fix stupid.

[Sir Napsalot]

>>> It is easy to talk about wealth discrepancies but how do you talk about wisdom discrepancies?

Because you can't.

Hence, Left had been preaching that “zero sum game” forever. “Your wise investment decision” was earned through exploitation of others.

Evil. But a majority bought into it.

[jaydee770]

Obama ignore that a major majority of the funding for government to build the infrastructure (and hence benefited you) came from makers, and where is the inequality of that?

Not sure what you are trying to say there - it's awkwardly phrased...

All I can say is that I worked up from the bottom, just like everyone else I know. I also know that, all along the way, my peers were white, black, brown, yellow, red, etc. We all had equal access to the same environment.

If someone tries to argue that no-one could succeed without the govt provided "goodies" then they must also accept that everyone who fails, failed *in spite* of those govt "goodies". Whether it's teachers, roads, or anything else funded by the "public", everyone has the *same* access to it. The difference is determined by how a given person avails themselves of the opportunities they identify and how they pursue those opportunities (govt provided or otherwise).