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 ...
"Mr (add politicians name) what are you doing to correct the wealth disparity between Blacks and Whites?"
(Should be the correct answer)
Whites are older than Hispanics and Blacks and they have been saving for retirement. Most of the wealth is savings for retirement. Black wealth that is not counted in this mix is retirement from government jobs. When you have a government retirement package, you do not need to pack away savings for retirement.
Liberals want to take that money from the white middle class and redistribute it.
Liberals can’t have it both ways with blacks. On one hand they do everything they can to keep blacks on welfare, in broken families, school drop outs, and nurtue a rap racist and criminal culture - conditions which promise poverty. On the other hand they whine about the poverty of blacks being the white middle class’ fault.
Hispanics are new immigrants and often not committed to life in the US as Americans. They and much younger as a group than whites. Liberals are encouraging young latinos to identify with Blacks in criminal culture and welfare dependence waiting for a hand out. Many are invaders which limits their opportunity. They have higher crime rates and drop out rates than Whites.
This who discussion of unfair wealth by race is dishonest and disgusting.
Simple answer: the underclass among the black population is outbreeding the productive class by a factor of three or four. More poor, fewer productive is the only possible result.
HEY! Tami Luhby! Yeah YOU!
When you write: “ - - - White Americans have 22 times more wealth than blacks — a gap that nearly doubled during the Great Recession.” do you realize that you are being sucked into the CLASS WARFARE of Obamanation?
America is based on the freedom of OPPORTUNITY, not the equality of a cradle to grave political safety net.
BTW Tami, there will be NO wealth disparity when The US Feudal Federal Government ‘ takes from each, according to their ability, and gives to each, according to their need. ‘
This basically says that simply by existing, some government dependent slug has a claim to the fruits of my labors (and anyone else who labors). This is the past was called slavery. Frankly this headline says to me that blacks just don't work as hard on average as other races.
That's an understatement! Furthermore, I suspect these stats weren't just manipulated; they're outright FABRICATED! Anyone who owns a car has more net worth than $5000; let alone homeowners (even if the house is a dump, the land it sits on is most likely over $5K!)
Perhaps I'm overreacting, maybe someone just accidentally moved the decimal point two places to the left for the blacks and latinos...
For once, I’d like to see someone in the news media give a factual report, using relevant statistics!
By Age; Marital status; Education; Region; Occupation; etc.
And use the MODAL average (that is, the number that occurs most often) when referring “average” income or net worth!
BTW: the 15% figure they used is curious—it’s the same bogus figure they used when they falsely asserted that the rich got richer and the poor poorer during the Reagan years!
“Melting Pot to Sorting Bin”...How the left has used the tactics of multiculturalism to steal the American dream from those who need it most
Title and summary of a book needing research whose point is proven in this article.
it means paying health premiums, car insurances, and mortgage/home insurance.. they pay full price for their kids education.....they pay SS, and property tax and income tax....
IOWS.....they support all those not working....by force....
those called "poor" in this article probably get food stamps, free phones, free or greatly reduced housing, earned income credits, free health care, and free college...IOWS....they make out better than the working couple....
What a dilemma for them. Either be “Oreos” and act “white” and get ahead, or else be condemned to envy and jealousy.
It really is too bad they can’t somehow normalize their study along cultural lines and determine how the blacks who “act white” are doing by comparison.
Do the ‘blacks’ include blacks from India and Eritrea?
(Stupid question to be deleted by administrator like post #2.)
Or those who did not have black American slaves as their ancestors, i.e. voluntarily immigrated here. I’ve met a few of those folks and it’s a whole ‘nother attitude, like night and day. Those people know up from down, they will deal straight with anybody, and they have a well deserved self confidence even if some are a bit flashy for Western tastes.
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