Posted on 03/26/2015 7:56:02 AM PDT by Responsibility2nd
The United States is becoming much more racially and ethnically diverse. At the same time, it’s becoming more unequal in terms of wealth and income. These two trends are combining in an uncomfortable way: the wealth and income divide is happening along racial and ethnic lines.
The typical black household now has just 6% of the wealth of the typical white household; the typical Latino household had just 8%, according to The Racial Wealth Gap: Why Policy Matters, by Demos, a public policy organization promoting democracy and equality, and the Institute on Assets and Social Policy.
In absolute terms, the median white household had $111,146 in wealth holdings in 2011, compared to $7,113 for the median black household and $8,348 for the median Latino household. (All figures come from the U.S. Census Bureau Survey of Income and Program Participation.)
This is what is called the racial wealth gap.
(Excerpt) Read more at forbes.com ...
Part of the labor market disparity, is the effect of criminal convictions.
Young black males commit a dramatically higher rate of crime, relative to the population at large. With a felony conviction, many employment opportunities are lost. When time is spent in prison, no seniority is earned, so former prisoners earn entry level wages later in life.
The high crime rate is highly correlated to the absence of a father, so a lot of this effect comes back around to stable families, when you look for an objective policy solution.
“I’ll take “Hard Work” for $1,000 Alex.” You are correct,I was a wastrel till I was 30, never saved, drank to excess,ran around with the wrong people then I met my wife. I order to provide her with what she deserved I worked overtime, stopped boozing,bought a piece of land and built a house. After working two jobs I was able to pay off my 30 yr mortgage in 15 years, send 4 kids to school and now have a house worth 300,000 as equity for my retirement. All because of incentive [wife and children] and HARD WORK. It can be done by anyone willing to sacrifice self for others.
Take responsibility for your life and stop blaming everybody else for you circumstances.
“The Racial Wealth Gap: Why A Typical White Household Has 16 Times The Wealth Of A Black One”
Yeah, well it’s going to become 160 times if blacks keep helping elect radical leftists.
Now would be a good time for some deep introspection on the part of blacks, Latinos, and other groups who want to see themselves as oppressed.
” A college education is all but required to flourish in the labor market, establish financial stability and build wealth”
Total Bullshit and mysticism lies.
You have to have a “Why”, a reason and what you want to feel like when you achieve that “Why”.
I am high school dropout. Sure, I went to college after testing out of high school but, everything I wanted I knew I had to work for.
Even the basics like food, water and shelter were things I wanted.
Losing weight was something I wanted and now, finding myself in the range of 40#’s overweight, with $30,000 worth of clothes in my closet I cannot wear, I am serious about shedding the lbs so I can get back into them.
Why? Because, I want to feel good, I want to look in the mirror and look good, I want to be in better shape than simply being round.
What do I have to do? Outrun my fork, eat sensible(I did when I was younger and can do so again) excercise, etc.
You have to have a “Why”, not an education.
I'm a bit surprised that Obama hasn't yet pushed for the legalization of teaching blacks to read. It's sad that he has failed the black community in this regard.
I was gonna say.....you can’t put together much wealth from a welfare check or food stamps.
Or to the mechanic who has worked on our vehicles for the past twenty years. It's well known in our community that he's a millionaire.
Blacks have gone feral?
Before or after taxes?
Not to be snarkey but 16 time?!.. that would be what...a 10,000.00 a year typical net vs 160,000.00 year typical net?... i call bullsh-t.....
It is the result of thousands of.decisions made over a lifetime
When a group gets their living from the government they aren’t likely to be able to set aside anything. Get an education, work your self to death and save what you don’t have to spend and eventually you will have something more than necessities. That’s what most of us nonblack and nonhispanic folks have done.
I remember a few years ago when Larry Elder (black radio host)commented that blacks tend to “wear their wealth”....hence the bling, grillz and flashy eyewear.
I noticed that the author, Laura Shin, didn’t include a breakout for Asian families. Interesting omission, Laura.
2.5 Buy a house with a fixed mortgage. And don’t get a cash out refi.
Ummm how’s this for an explaination: W O R K! Opps left out the prefix: No. Opps left out the suffix: Ethic!
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