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 ...
Do you have a link for that? I agree, but am looking for sources.
Good insight.
It’s the opposite. It’s local, state and federal regs that cause poverty and the drug trade. Kids work in the drug trade for much less than a dollar or two an hour on the street. Minimum wage laws make these already difficult to hire kids impossible to hire in legitimate work.
Toss in zoning, permitting and licensing laws and you’ve got a recipe for poverty.
Eliminate minimum wage requirements and that would end. You’d also see a drop in recidivism. Call it a training wage or something. Let it expire in 90 days or some period of time to get it to pass.
I don’t know about other states, but Illinois prisoners make about $2/day. Kick it up to $2/hour and a guy can pay for the halfway house for 90 days and start saving. He can also prove he can work and be trusted.
Or social security. If you die you lose big time.
Nation review.
http://www.nationalreview.com/article/415799/why-wont-liberals-talk-about-most-important-kind-privilege-america-lee-habeeb-mike
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