A $95,000 question: why are whites five times richer than blacks in the US?

The Guardian (UK) ^ | 5/17/10 | Chris McGreal

[reaganrevolutionin2010]

A huge wealth gap has opened up between black and white people in the US over the past quarter of a century – a difference sufficient to put two children through university – because of racial discrimination and economic policies that favour the affluent.

A typical white family is now five times richer than its African-American counterpart of the same class, according to a report released today by Brandeis University in Massachusetts.

White families typically have assets worth $100,000 (£69,000), up from $22,000 in the mid-1980s. African-American families' assets stand at just $5,000, up from around $2,000.

A quarter of black families have no assets at all. The study monitored more than 2,000 families since 1984.

[reaganrevolutionin2010]

Not to worry, black America - there's always Hope And Change...

[MNJohnnie]

Because the average white kid is not told from birth that they are going to be discriminated against and held back no matter what they do by their so called “leaders”.

[edcoil]

This is from England where the different in wealth in classes is ten times more then the USA.

[SmokingJoe]

The Guardian should be asking itself : Why are whites five times richer than blacks in the UK?

[Travis McGee]

This is proof we need an Economic Democracy Amendment to the Constitution!

The govt should take from the rich and give to the poor, until we’re all equal.

/sarc

[RFEngineer]

I don’t care about that.

I have more important concerns. I want to know who is going to solve the disparity in spinner rims on automobiles between blacks and whites.

[rightwingintelligentsia]

The article doesn’t even mention the high incidence of single-parent families in the AA community as one of the possible factors.

[Chickensoup]

Thomas Sowell discussed this in one of his economics books.

[PGR88]

One could not have devised a more effective plan to destroy the African American race than the Great Society and Welfare has done.

[MNJohnnie]

Of course they did not bother to adjust for the fact the White Population is 8 to 9 times bigger in the USA then the black population,

[Amberdawn]

DON’T believe anything you read in the Guardian.

[GeronL]

because of racial discrimination

Oh yes, we are more racist than the days of Democrat Jim Crow and Democrat Segregation. uh huh

[ReneeLynn]

Why doesn’t the Guardian(UK) mind it’s own country’s multiple problems, like being taken over by Islam?

[reaganrevolutionin2010]

IMO, I think fathers matter.

And then there's that 50% high school dropout rate that Bill Cosby has famously talked about.

[sodpoodle]

This is the result of *the war on poverty* - sadly, black families were seduced by false promises and sabotaged with welfare bribes.

The tragedy of fatherless families should be a clue.

[Paladin2]

This study is clearly flawed as not being normalized by “family” size and age distributions. Besides, what about the celebration of diversity? Who even wants to be like Whitey?

[struggle]

Self-victimization doesn’t make you rich.

It just makes you angry at everyone else that you’re not.

Add to that the two career choices as enumerated by pop culture for blacks: rapper or athlete.

[allmost]

West Virginia, demographically, seems to contradict the insinuations in this headline.

[EyeGuy]

Work, Sacrifice, Family unit, Respect for the law.

[highimpact]

A huge wealth gap has opened up between black and white people in the US over the past quarter of a century – a difference sufficient to put two children through university – because of racial discrimination and economic policies that favour the affluent the prevailing attitude in inner-city schools that studying to achieve good grades, and ultimately professional success later in life, is "acting white."

Fixed it.