The calls for redistribution will follow shortly. After all, the disparity MUST be due to racism. [/s]
All I know is that the inner-city poor have never had it so good as under Obama. There are big grants for new urban housing developments (and let’s not forget the ACORN origins of the housing disaster), some 49% of people in this country pay NO federal income taxes, some 40% are on food stamps (a family of 4 making $50,000 qualifies!), and the government schools, at exhorbitant costs-per-pupil, are supported by the property taxes of the “wealthy.” Now, Michelle even has an initiative to bring grocery stores to the inner-city. Gotta have a place to use those food stamps, you know.
Minorities have to pull their pants up, get a job, save some for their families and quit shooting guns at each other. It’ll take time for them to get that. Meantime the rest of the world can’t stop and hold their breath and they can’t let their families’ legacy be drained away by misguided social leveling programs.
These numbers sound fishy to me, I think it's just another attempt by the MSM to propagate race and class envy. I don't know how anybody of any race could have a net worth of only $5,000 or $6,000. I had a net worth higher than that, my first year out on my own, and that was from money I had earned and not counting what my average middle class parents gave me. It been my experience that most "dirt poor" minorities usually have nice cloths, electronics, and at least one car.
Hmmm... wonder how much I could get for my ‘89 Corolla...?
This is less about minorities than it is about blacks and Hispanics. The out of wedlock birth rates for blacks is 71% followed by Hispanics with over 50%. Both groups have school drop out rates of about 50%. Single parent households and high school dropout rates are the social pathology for failure in this society. Wealth and education are generally linked.
Immigration is also a major factor. We bring in 1.2 million legal immigrants a year, most of whom are poor, unskilled, and uneducated. 25% of adult legal immigrants lack a high school degree. And of the estimated 500,000 illegal immigrants who enter annually 50% to 60% of the adults lack a high school degree. We are importing poverty. 57% of immigrant headed households are on welfare.
This huge influx of unskilled immigrant labor drives down wages and affects disproportionately blacks and Hispanics. This contributes to the widening wealth gap between whites/Asians and blacks and Hispanics.
It is also worth noting that 87% of the legal immigrants are minorities as defined by the USG and almost all of the illegal aliens are minorities. By 2019, half of the children 18 and under in the US will be minorities. Immigration will drive 75% of our estimated 130 million increase in population in the next 40 years when our nation will total 440 million. Demography is destiny.
bkmk.
Remember that?
Someone ought to tell Blacks that it is also 'A Money Thing.'
Get off your asses and get an education!!
Your poverty is not my problem and I'll shoot if you come to get my stuff.
I bet that whites and blacks who behave similarly have the similar net worths. It’s actions and choices, not race.
Interesting that those “without” are usually Democrat voters and those “with” often Republicans. No doubt just a coincidence, right Mr. Obama?