“Shapiro says the gap remains wide even between blacks and whites of similar classes and with similar jobs and incomes.”
That makes no sense.
Let me ‘splain it to you.
If two families both make 50k,
and one saves/invests 10%, buys investments that go up in value, etc,
and the other spends 99% of their income on toys, consumables, interest payments on credit cards and
car payments, and buys other non-appreciating “assets”,
which one is going to be wealthier after 10 years?
Income does not equal wealth.
It actually does make sense but research into this phenomenon became taboo in psychology about 25 years ago. The underlying factor is “time orientation.” People who are future oriented save and plan for the future (and are more likely to do things like buying health insurance and spending years studying for a college degree). People who are present oriented are more likely to “live for today”. As a result people with similar resources do very different things with their money and have very different net worths to show for it.
Needless to say, liberals cannot get their heads around this. There is no one to sue.