Posted on 07/26/2011 1:20:16 PM PDT by LonelyCon
As Congress and the White House wrestle whether to raise taxes for the wealthiest Americans, a new analysis of Census data shows that the wealth gaps between whites and blacks and Hispanics widened dramatically during the recession.
[Snip]
The declines from the recession left the median black household with $5,677 in wealth (assets minus debts, where assets include items like a car, a home, savings, retirement funds, etc.) and the typical Hispanic household with $6,325. White households, by comparison, had $113,149, the study found.
(Excerpt) Read more at msnbc.msn.com ...
For Heaven’s sake! Get a clue. The gap widened because the American taxpayer had less to fork over to them! Less taxpayers with jobs, less money for Government “Programs”.
Warren Buffett and Bill Gates are making the Whites look good.
err.. which minorities? Last I heard, the Jewish-Americans, Indian-Americans, Chinese-Americans, Japanese-Americans, Korean-Americans were doing better than whites....
The problem is that for the past few decades, as Bill Crosby made a point about, much of the black community has denigrated education. Blacks are capable of generating wealth as much as anyone -- Herman Cain as an example. It's when the hard work and educated is denigrated as "whitey's game", that's when the loss occurs
Ditto for hispanics (the comparison I mean)
No coincidence that you're more likely to be successful and prosperous when you live closer to the way God reveals in His Word that we're meant to live.
And you can probably say the same about whites relative to blacks and “Hispanics.”
I bet if we could sort for “culture” we’d find that “people who get educated, married, work hard, save, invest, look out after each other, and stay drug-free” have an even more significant wealth gap with groups who don’t practice such things, regardless of race.
What is wrong with you? That is the point I was making.
The Greeks were cutting the till receipt three hours early in the diners back in the 50s/60s. Outsmarting Uncle Sap is not something I get too upset about. :)
You have to see that the white population is much older than the black or Hispanic, the median is also). As an example, how many 22 year olds put a large downpayment on a house compared to the number of 50 year olds who use the proceeds of the sale of their previous residence. Wealth builds over time. Obviously, a 50 year old has had more time to build wealth. College loan obligations subtract from wealth, so even minorities striving to get ahead who are doing all the right things and still have a negative net wealth. I would venture to say that this responsible subgroup among minorities doesn’t reach to the 50th percentile.
Looked back over your old comments - some really nice logic involved in some of this...
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