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 ...
You may be right.
I don’t know any Asians but I’ve always figured them to be hard working people
and maybe a little cunning.
I do see some very big homes and wonder where the owners came from.
Too bad we can’t get dem white boyz away fum dey books. Get ‘em gang bangin’, break dancin’ and thuggin’ in dey lo’ riders. Dat might even tings out mo’.
With 70 percent of black children being raised by single mothers and a high incareration rate of black fathers, how many working blacks are left to provide a decent income for their families?
Exactly. A culture in which READING is actively discouraged. Men father kids everywhere they can and marry no one. Drug use is rampant.
Folks, if you beat up your kids for reading a book, they are not getting a good job. End of story.
And if they don’t read, they can never know the story.
Does this mean the black gal who was on TV in 2008 saying “Obama gonna pay my rent, Obama gonna pay my gas” got left behind?
What a bummer.
It's a given that the poor and dependent always lose the most when an economy falters because they are on the bottom of the pay scale and have few salable skills. The left has convinced too many blacks and Hispanics that the only reason they are poor is because white folks have 'stolen' their money by mysteriously keeping them from the good jobs, etc. Uneducated people, seeking an easy excuse for not trying, grab onto the lie, nurture it and eventually believe it as they continue to rail against 'the man' and vote Democrat, thinking that this time, things will be different. Of course it never is and never will be unless these same racial minorities wake up to reality, put away the racial resentments and start to take advantage of the myriad opportunities still available in America for the industrious and resourceful. Unfortunately, few racial minorities can claim membership in that group these days and the difference in collective wealth between whites, black and Hispanics simply amplifies that sad reality.
They steal from the poor, in terms of job killing regs and programs, inflation that doesn’t keep up with wages, negative interest for savers, and give to the rich, in the form of bailouts, TARP, asset inflation and QE1 and QE2”
Yes they do - a concise description is “take from the needy and give to the greedy
This may be a little cruel but the Vietnamese and the Cambodian folks that have come here do not have their gene pool contaminated with the the “do nothing” link.
It is going to take a lot bleach to correct 45% of the USA gene pool.
Most of the Federal Gov’t and certainly the Federal Reserve, are Robin-Hoods-in-Reverse.
They steal from the poor, in terms of job killing regs and programs, inflation that doesn’t keep up with wages, negative interest for savers, and give to the rich, in the form of bailouts, TARP, asset inflation and QE1 and QE2.
I agree. Just think of all the folks with marginal incomes that were encouraged by Congress and Fannie/Freddie Mae to buy a house with 110% mortgages only to lose the house few months later.
The Federal Government likes to blame the banks for the housing fiasco, but if the Feds had not sponsored it there would have been no bubble.
Thank you! One of the reasons I got back to gardening, seed saving, and food preservation is because I want my children to know where their food really comes from. I believe we could be in for some tough times ahead. I don’t want my kids to stand in bread lines. That stated, at 34 weeks pregnant I’m not above ordering a pizza when I just can’t seem to be able to stand up anymore!
Wealth in America: Whites leave minorities behind
(and we think you evil whiteys should give it away)
Because I am dubious. Most "whites" are in more financial trouble than most minorities because the "whites" invested their money into now defunct projects. I would love to have 0 in assets and debt. I do not. Until I straighten out a mortgage or 2 my future wealth is based on what I can earn and how fast I can pay down my student loans and car payment.
How many minorities in this study have: insurance to pay, car payment, mortgage, and student loans?
I suspect this is a strictly "stuff" oriented survey. How much stuff can you see in the house that is owned.
Also the black Haitians of south Florida weren’t raised with the “victim” mentality of those wedded to the welfare state. They excel.
WHAT??
No Magic Unicorns arriving on rainbows for AA’s from Obama, with Free Mortgage Checks and Free Gas?
Peggy Joseph, from the 2008 Orlando Rally will be mighty disappointed.
WHO DA THUNK IT!
I think it’s more objective than that, a simple assets minus liabilities analysis.
I’m not surprised. In study after study, NORMALIZED FOR INCOME, whites had more net worth than blacks.
It’s what the income gets spent on that matters.
What about the (black) Haitian boat people who landed in Florida without a dime and are the most prosperous minority group in the state?>>>>>>>>
Florida Cubans as a group are richer than Haitians. Haitians aren’t very rich....I don’t know their rank
nobody got "rich" quick...infact, if having $140,000 in assests that include your home is "rich" or having a "ton" of money than I'm in and I'm RICH!
nose to the grindstone...that's what got most of us whiteys were we are....nothing fancy...
nobody got "rich" quick...infact, if having $140,000 in assests that include your home is "rich" or having a "ton" of money than I'm in and I'm RICH!
nose to the grindstone...that's what got most of us whiteys were we are....nothing fancy...
I was gonna mention the Cubans, but forgot and clicked. Ahh! I’ve read the Haitians have a tremendous work ethic, are successful and vote Republican.
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