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.

[boop]

Two points: 1) look at asian families. They PRIZE education and acheivement. Even an asian immigrant will be self-sufficient if not well off after a few years of HARD WORK.
2)Poor white people have similar problems as poor blacks. BAD choices and government dependency. There are plenty of poor white women with a brood of kids from multiple fathers who provide little or nothing in child support.

[RockinRight]

Bump for later interest....

[OldMissileer]

I really want to know why I only see blacks pay for food with Food Stamp Cards and then pull out a roll of $100 bills to buy smokes, then get in new expensive cars and drive off?

In my work I see this every day and I honestly have yet to see a single white person or family do the same thing. They usually have little cash and their cars are usually old and worn.

[freespirited]

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.

[Osage Orange]

This much I do know....there are more "white" people on the dole than "black"........

fwiw-

[freespirited]

See my post #184.

[AbolishCSEU]

That’s changing rapidly because there’s a big incentive in being divorced. With today’s family court laws, you can divorce HIM but NOT his WALLET!

NO incentive to marry for men at ALL!

On the other hand MUZZIE women don’t get anything for being divorced and their children are taken away from THEM (the women) automatically should they DARE to divorce their husbands, so no wonder they are popping out eight on the average and staying married!! (AND outnumbering Americans FAST)

[bert]

Taken as a group......

The American Africans cling to African tribal ways and like their cousins in Africa just can’t make it in a civilized society.

Those that transcend the old ways succeed and become outstanding Americans

[kcvl]

A typical white family

What does this clown mean? Is he comparing a white family that works with a black family on assistance or vice versa? How does he determine what a 'typical white family' is?

[AbolishCSEU]

There is no more certain way to poverty (for the man)than divorce after a pregnancy

[bIlluminati]

The answer is covered extensively on vdare.com

[chooseascreennamepat]

“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”.”

And not allowed to go to school because that is “too white”!

[Hojczyk]

There are no black families left...Thomas Sowell has said if there were black families there would be no poverty..No one can make it on one pay check working low paying jobs...

[RickB444]

How many blacks can even tell you who MLK was let alone quote anything he said?

I don’t think most progressives can do it either for that matter.

His words have been lost to the last two generations. It seems the only ones who even remember what he said are a few of his fellow Republicans.

[gitmo]

My next door neighbors on both sides are black. I often told my sons to watch those young men next door, that they were going to become quite successful. Their father works hard, his sons have good work ethics, are polite and present themselves well.

Both of my neighbor’s sons have now graduating from highly respected universities with professional degrees. Even though their father isn’t well off financially, they are already well on their ways to success.

[eaglestar]

Because blacks see educated blacks as sellouts, Uncle Toms and wanting to be white and instead remain in their comfort zone...we know what that is.

[kcvl]

Thomas M. Shapiro is a professor of Sociology and Public Policy at Brandeis University and is the author The Hidden Costs of Being African American and the co-author of Black Wealth/White Wealth

Shapiro co-authored Black Wealth/White Wealth with Professor Melvin L. Oliver, which was originally published in 1995;

Drawing from interviews with 182 black, white and Latino families with school aged children in Boston, Los Angeles, and St. Louis, Shapiro argues that there continues to be a substantial racial wealth gap in the United States

3/4 of the people that Shapiro interviewed were middle class and 1/4 were working class or poor.

He coins the term “transformative assets” as money that is acquired through family that allows for social mobility beyond what their current income level would allow for. He shows that different starting lines of wealth for different people has a huge impact on inequalities and that race plays a huge role in determining your starting place. In terms of racial equality, inherited wealth and housing discrimination limit educational and employment gains which have a huge impact on social mobility.

The fact that Shapiro left out cities in the south is a major critique of his research for The Hidden Cost of Being African American. It is speculated that if cities in the south were included in his research, there may be a different result that may have been found due to a different amount of segregation and percentages of blacks in the city.

This book is widely used in undergraduate sociology courses.

******

No bais there!

Maybe it's because liberals have kept people in poverty for decades by handouts because that is where they want them in order to stay in power!

[bIlluminati]

In addition to the other factors mentioned, 20% of white graduates work for the government. 60% of AA graduates work for the government. IOW, without government jobs, this stat would be more like 6x to 8x wealth disparity.

Also, shop at a grocery store (no Walmarts here) in a AA neighborhood. Prices are 5-25% higher, due to “slippage” (a polite term for shoplifting, a polite word for petty theft). Even higher if the only grocery is a “convenience” store, which happens when the chains can’t break even.

Fix: throw away AFDC - which destroyed AA families, and is now destroying white and Hispanic families - allow/require discipline in schools - throwing 3-10% out will help many schools, but some schools have gone past where that will help - teach everywhere that actions have consequences.

[OldMissileer]

This much I do know....there are more "white" people on the dole than "black"........

There are also many more white people than black, but you missed my point.

[Java4Jay]

bttt