Skip to comments.Worsening wealth inequality by race
Posted on 06/21/2012 5:24:13 AM PDT by rightwingintelligentsia
NEW YORK (CNNMoney) -- White Americans have 22 times more wealth than blacks -- a gap that nearly doubled during the Great Recession.
The median household net worth for whites was $110,729 in 2010, versus $4,995 for blacks, according to recently released Census Bureau figures.
The difference is similarly notable when it comes to Hispanics, who had a median household net worth of $7,424. The ratio between white and Hispanic wealth expanded to 15 to 1.
The gap between the races widened considerably during the recent economic downturn, which whites weathered better than blacks, Hispanics and Asians.
(Excerpt) Read more at money.cnn.com ...
Wealth inequality by education,skills and hard work.
I would like to see these results refined for married couples vs single parent households
also control these results for age
I am guessing that single parents of illegitimate children fare much worse than stable families
I also am guessing that baby boomers whose ranks have begun to grow have accumulated more assets (that they WORKED to earn and save) than others
Something tells me these stats are not telling the whole story. Close to 50% of Black and Hispanic Americans own their homes. The average income of Black and Hispanic Americans is over thirty K per year with Hispanic closer to 40K. Someone at CNN has an agenda.
Wealth inequality by CULTURE.
Where’s the outrage about Asians being wealthier than “whites”?
Do Asians have some sort of political or other power that is keeping “whitey” down?
No, it’s absurd to try to imply this “inequality” (loaded word) is due to “racism”.
Wealth is familial and is created through investment and action. The strength of a population’s financial posture is an outgrowth of its commitments to strong family ties and rule of law.
If you want racial leveling applied to wealth disparities the above considerations should direct the subsequent action steps.
They way I read this that Whites, Asians & Hispanics all work harder than Entitlement-Minded Blacks.
Project the net present value of government benefits forward, and it changes the equation in favor of blacks and hispanics.
It’s hard to quantify the opportunity cost of affirmative action for blacks and hispanics, and of course, the lost opportunity cost for whites and asians.
The entire network is driven by an agenda: state ownership of the means of production EXCEPT when it comes to Ted Turner, who of course "owns" millions of acres of land (2+ million last I hear), but wants the rest of us to live in government owned squalor.
In the 50's, 1 out of 1000 didn't graduate.
Now, ask my what the demographics were during each period.
These jealous people better not watch Million Dollar Rooms!
I think a lot of people will have this same comment.
Add immigration. When you bring in 1.2 million LEGAL immigrants a year with 25% of the adults lacking even a high school degree, you contribute to the wealth gap. 57% of all immigrant headed households with children are on at least one welfare program.
too much truth is “offensive”, donchaknow.
Gee, I thought Obummer narrowed the gap between rich and poor. I guess Socialism is not working.
I’ve noticed a lot of work ethic disparity too.
Sure sounds like black America has really gotten the short end of the bad economy stick. Has it forever been this horrible? $5000 a year you say? That’s worse than poverty.
It can’t help, of course, that the modern white liberal welfare state has for decades sapped many a black family of its coherence and dignity with its bribes to be dysfunctional.
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