Posted on 04/29/2013 12:42:00 PM PDT by rightwingintelligentsia
I believe that if it were possible to instantly erase the wealth gap — that is, to wave a magic wand and make everyone in America’s “share of the pie” exactly the same, somehow... but leave in place our free (or at least quasi-free) market-based system...
...within a generation the “gap” would be back.
And within a few generations (at most), the “gap” would be as wide as it is right now.
On a broad scale, it’s not how much stuff you possess that determines the outcome. It’s your character, your work ethic, your intelligence, your motivation, and other “intangibles” that determine wealth, over the long haul. These intangible qualities can be acquired by anyone, but they CANNOT be arbitrarily “redistributed” by government.
Wealth Gap Among Races Widened Since Obama Coronation
...now someone remind me....who did blacks and Hispanics vote for?
This makes absolutely no difference to the Obama fanatics, who would gladly embrace their chains if the ONE put them back into slavery. Besides, Obama has come out in support of Jason Collins, and so we all know his heart is in the right place.
“Asian wealth > “white” wealth > black wealth.”
For millions of Americans, this has changed over the past years to “Asian wealth > “white” wealth = black wealth”.
The desperation of the white former middle class was key to Obama’s election and subsequent re-election.
Bullsh*t.
The author doesn’t know the difference between “among” and “between”, but is lecturing the rest of us nonetheless.
If every wetback living in this country in ‘08 had been expelled at the time and none had been allowed to enter thereafter the unemployment rate among minorities who are here *legally* would be half (and maybe a third) of what it is today.
The economic turbulence worsened a gap that has persisted for as long as social scientists have measured it, and has its roots in institutional racism
Discriminatory lending practices were also a factor.
..and the ususal solutions..
Professor Hamilton has proposed “baby bonds,” granting savings accounts to infants, seeded with funds that allocate greater sums to families with less wealth
The Urban Institute suggests reforming government policies that encourage savings but disproportionately benefit the already wealthy and families with high incomes, like the home mortgage interest deduction
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