Wealth gap between whites and minorities is growing, Pew says

Los Angeles Times ^ | December 12, 2014 | Andrew Khouri

[ConservativeStatement]

An unequal economic recovery has helped create the largest wealth gap between minorities and whites in more than a decade, a new report found.

The gap has grown, as white Americans -- who are more likely to own stocks -- rode surging financial markets to greater wealth, the Pew Research Center said Friday.

Meanwhile, minorities, hit harder by the housing crash, saw their wealth decline between 2010 and 2013.

[kearnyirish2]

“I say we whites just sign up for all public assistance and allow the blacks and hispanics to take our places in the job market and fund us.”

Many young whites are doing just that; without them Obama would have never been re-elected. Some blacks and Hispanics are entering the workforce in set-aside jobs, while young whites (especially unskilled ones) see no point in getting tired at a job that pays less than public assistance.

Does anyone believe the five year limits on welfare are being enforced?

[LibsRJerks]

Same thing here — on any given day I’ll see the Mercedes ... And I mean, we’re talking the high end enormous looks like a limo type Mercedes driven by a black 9 times out of ten -—

What is it that makes them feel they have to drive vehicles like this?

We’re a 6 figure income family. We have one nicer leased vehicle with a payment under $400. The other two cars are both over 10 years old and will be driven until they drop. But we do ok.

[freeangel]

Silly white people must actually be graduating from hs.

[trebb]

Meanwhile, minorities, hit harder by the housing crash, saw their wealth decline between 2010 and 2013.

Yeah - the same minorities that were "helped" by the Left's insistence that they be allowed loans that everyone knew they couldn't afford...

Used to be a saying, "Beggars can't be choosers." These days, the Left changed it to, "Beggars can't be allowed to be seen as losers."

Meanwhile, they create a class of "demanders" that used to be beggars and undermine them to the point where they are asking to be eliminated from society - all acceptable to the Left as long as it allows them to use it to wring the last vestiges of Freedom from the People.

[CodeToad]

So is the gap between those whites who stay in school and get an education and those minorities who don’t. Ignorant and stupid is no way to go through life.

[KCengineer]

I have seen it first hand in large southern city. Nice people, nice cars, likely mountains of debt, renting in upscale neighborhoods and probably lacking the discipline to delay gratification. But blacks have partners with some white families who have done the same thing.

You can’t put a price on a good nights sleep. The last five years have been very good for me and my family and I had a short layoff in the middle of it.

The financial Balkanization of neighborhoods in our METRO area is startling. Some zip codes are red hot, with minimal housing stock, great schools, escalating rents, home valuation increasing at greater than 5 to 10% and then there are zip codes that are terminally devastated.

[bert]

minorities hit harder need to work harder to narrow the wealth inequality gap. Although the intelligence gap can never be narrowed, it can be mitigated by hard work

[matt1234]

What is it that makes them feel they have to drive vehicles like this?

Many american blacks suffer from a huge inferiority complex. That explains the fancy cars, bling etc. The status symbols are one way they compensate for the complex. The complex explains much of their behavior.

[Jim Noble]

Wealth gap between whites and minorities growing

Well, duh.

[SamAdams76]

It's a real problem. Many of their so-called leaders (Sharpton, Jesse Jackson, et. al.) are always dangling reparations in front of them.

As if some day, all the white folks are going to get together and start handing out stacks of cash to all the black folks as payment for what happened some 150-300 years ago.

It's time for everybody to get over that nonsense and move on with their lives.

I'm Irish and most of my family were "shanty Irish" who were discriminated against. Remember all those "No Irish Need Apply" signs that were in all the storefronts at the turn of the century?

Everybody thought we were worthless drunks. And for the most part, we were. But we had to eventually sober up, put on some decent clothes and set about improving our lot. And now, I'm happy to report that we are getting employed and accumulating some wealth for ourselves.

I still eat corned beef and cabbage and take a shot of whiskey now and then, so I'm not completely giving up my culture. I even listen to the Celtic music such as The Pogues and Dexy's Midnight Runners, but I get up each morning to go to work and I'm not feeling sorry for myself.

[Alberta's Child]

You're not wrong, but there's a big difference between wealth and income in these comparisons.

In simple terms, think of "income" as what you get paid (and I'd include government handouts in this, as you indicated.

Think of "wealth" as what you have left over after you pay your bills.

In any society, there is pretty much a direct correlation between how much money you actually earn (as opposed to getting handed to you) and how much wealth you produce.

[Pit1]

FREEKEN GOOD.

[randita]

Although there are certainly Asian people all over the country, the largest concentration of them is in west coast states where the cost of living is higher and income is commensurate with that.

So that skews the results somewhat.

[Caipirabob]

It’s true. I had some cash on hand when I came home the other day. My wife needed some things for the kids and I gave her all of it. Now the Latinos In my the house have more than I do. It’s not fair, we whiteez are supposed to be the oppressors. Where is my white privilege when I need it? I need a hug... : P

It’s always “race” and “divide” with the left. As conservatives who judge based on content of character and not color, it rings laughably hollow and has no effect on us. To the left: “your racial propaganda has no power here” we are so “over” with you and your crap that your constant mewlings are a continual joke to us.

[vetvetdoug]

The gap between me and the Asians is widening every day. The Asians make far more money than I do.

[vetvetdoug]

Wonder who's putting more into their 401k's/investments?

Yes, and wonder who is advocating the government takeover of the 401k investments?

[tbw2]

It is also a reflection of the marriage gap. Living with a guy instead of marrying him isn’t the same as marriage. Cohabitating couples break up 80% of the time before the kid hits 18, whereas 75% of college educated married couples stay together until the kid is 18.
When you live with the baby daddy, you may save on half the rent, but you are no more likely to save for retirement or kids’ college than if a single mother. Conversely, if you marry, your savings and planning for the future improve.

[tillacum]

How can the gap be growing when the minorities make more per hour on welfare than a lot of Caucasians and normal workers make working? HUH?

[Myrddin]

My 401k was cut in half in 2008. I have no pension. My investment is what I have when I can no longer work. Obama cut it in half and there is little prospect to recover at my age.

[Pining_4_TX]

Yes, because what you earned is going to be precious to you. What someone hands you for doing nothing will be frittered away, because it didn’t cost you anything to produce. It destroys a person’s dignity and sense of purpose to be kept like an expensive pet.