Ronald Reagan’s Policies Continue to Exacerbate the Racial Wealth Gap

Time ^ | 12/05/2023 | CALVIN SCHERMERHORN

[ChicagoConservative27]

The Federal Reserve’s latest Survey of Consumer Finances (SCF) exposed a massive racial wealth gap in the U.S. In 2022, the typical African American family has 16 cents on the dollar compared to the typical white family—about $44,900 compared to $285,000. (The typical Hispanic family has 22 cents on the dollar compared to a median white family.) This perpetuates a pattern that dates to 1983, when Black and white workers’ wealth began to diverge across income brackets.

In the early 1980s, experts saw this gap as an anomaly and predicted that it would narrow as younger Black Americans with more education replaced older ones with less education in the work force. But these predictions proved false due largely to policy changes brought about by the sweeping Reagan Revolution, which remade policy and American politics in ways that exacerbated the racial wealth gap and made closing it difficult, even today.

[ChicagoConservative27]

if Reagan was so horrible why didn't Clinton,Obozo, or Diaper Joe fix all this??? Calvin is a moron.

[FlingWingFlyer]

Calvin Schermerhorn plays the race card for Time.

[alternatives?]

Typical black family is a single mom. Duh.

[HandBasketHell]

More race-baiting. Just a desperate attempt to deflect attention from the Vegetable’s disastrous term.

[NorthMountain]

Are blacks forbidden to invest their earnings? Is the 401(k) off limits to negroes? Are ‘people of color’ compelled at government gunpoint to spend their money on ‘bling’?

[TakebackGOP]

Some conservative message board. I’m sick of this crap.

[CodeToad]

Gaslighting by communists to say Trump will be bad. This report is 100% BS.

[ansel12]

Always ask the question, if the policy is racist then which race does it favor, and then look at how it affects the oriental race in America.

[alstewartfan]

I am with YOU. Calvin Coolidge must shoulder the blame for today’s economic malaise, not Reagan.

[vpintheak]

Wow. What a pant-load.

[Robert DeLong]

Calvin Schermerhorn is a historian of slavery, capitalism, and African American inequality. He is a professor in the School of Historical, Philosophical, and Religious Studies at Arizona State University. Schermerhorn teaches slavery and human trafficking in a comparative perspective, viewing modern slavery in historical terms. He is engaged in public history, shining a light on the domestic slave trade. In 2022, he was a Fulbright Scholar to the U.K. at the University of Nottingham, researching transatlantic racial economic inequality, the British origins of the U.S. Louisiana Purchase, and searching for Jacob D. Green, who was enslaved on Maryland's Eastern Shore and in Kentucky before escaping to Toronto.

He's found his meal ticket, bless his wicked little heart.

[Colorado Doug]

As a white person where do I go to get my $285,000?

[Socon-Econ]

Some conservative message board. I’m sick of this crap.
*********
Agreed — way too many barf articles here on FR. “ChicagoConservstive” specializes in them.

[rktman]

Easy to blame it on a dead guy.

[adorno]

The democrat party has been ‘in charge’ of the black population since about 100 years ago. Why are blacks still suffering and kept poor after so many years?

Obama didn’t help; Clinton didn’t help; Biden didn’t help; FDR didn’t help; LBJ didn’t help; Carter didn’t help; democrat control of congress didn’t help.

But, it’s a lot easier for the liberal media to blame those that had nothing to do with the desperate state of the black. Reagan and Trump and even JFK, did try to improve the lives of blacks and other minorities, but, democrats and their liberal media would have none of that, so, they set out to undo everything that Reagan and Trump and republicans had done, in order to keep control of blacks. Blacks are poor, but because they have to be kept that way by democrats, otherwise, they would lose a huge constituency.

Blame is totally on the side of democrats and on the liberal media. Blacks continue to be held back by democrats, and in reality, continue to be treated as slaves by that party, and if they were ever let go, the party would cease to exist.

[ProudDeplorable]

The racial gap started with LBJ’s great society not Reagan. This Time article is suggesting that the only way Black families can survive is based on government handouts.

[Lurker]

He’s also totally gay. That or a complete cuck.

L

[mykroar]

Wow, going back to Reagan now. Trump is Hitler must not be working.

[dfwgator]

Now the White liberals aren’t White people who are for independence, who are liberal, who are moral, who are ethical in their thinking, they are just a faction of White people who are jockeying for power the same as the White conservatives are a faction of White people who are jockeying for power. Now they are fighting each other for booty, for power, for prestige and the one who is the football in the game is the Negro. Twenty million Black people in this country are a political football, a political pawn an economic football, an economic pawn, a social football, a social pawn.

-Malcolm X

[lodi90]

A generation ago that clap trap would have landed him an Ivy League gig. But now as a white male Arizona State is apparently the best he can do. I doubt he sees the irony there.