Here are the three main factors driving the income gap.
1. Homeownership
For most U.S. families, a home usually comprises the largest portion of their assets....
Education
A college education is all but required to flourish in the labor market, establish financial stability and build wealth. But the gap in college attainment by whites versus blacks and Latinos has widened over the last decade...
Labor Markets
Labor markets can provide economic security through earned income, employer-provided health coverage, paid leave and workplace retirement plans. But inequality in the labor market is responsible for 20% of the growth in the racial wealth gap in the last 25 years, and unemployment another 9%...
There is a wealth gap. And if it is “racial”, then it’s self-inflicted.
Nothing - absolutely nothing - is keeping blacks from following the tried and true method of success in America:
1. Get an education.
2. Get married.
3. Have children.
Number One reason: LBJ and the so-called “Great Society”
Single parent “families”. Multi-generational dependency. Collapse of ordinary social structure.
Can all be laid at the feet of the Democrat Party.
How absurd.
What's the problem? This is a democracy... those with 6% should be able to just vote that the folks with 94% hand it over.
I’ll take “Hard Work” for $1,000 Alex.
Well, it’s going to get worse for black families and that’s because the Democrats have named Hispanics as the chosen group. More for the Hispanics, less for the blacks.
Hmmm, I guess the fact that I’ve working my b*tt off for the past 40+ years or so has nothing to do with it.
Also of note is that the African-American folks I have had the pleasure of knowing all have advanced STEM degrees and all are doing very, very well. Perhaps it’s due to the fact that NONE of them would be found anywhere near (c)rap music, the world’s worst speech habits, and Obamafones - they were too busy studying and working hard.
And how many of those white households had a donk or 22” rims or a mouth grille or a body covered in tattoos ?
This gap entirely disappears when you normalize for stable married households.
It’s not black v white,
it’s married v unmarried.
Someone tell that to Bill Gates, Steve Jobs, Scott Walker, Henry Ford, Thomas Edison, Abraham Lincoln...
I don’t doubt this data is accurate. But the question is why do these differences exist. The article give some reasons, but it almost expects you to conclude that the underlying reason is racism.
In the end, a lot of it comes down to bad, or even stupid, choices. This is what keeps people of ALL races poor. Many people are short term thinkers and/or lack discipline and this inevitably leads to bad decisions.
Means less or smaller donations to Democrat candidates.
Compared to other countries, a factor of 16 is paltry.
Compare the “Wealth Gap” in America to the wealth gap in India (between Brahmins and the lower castes), or in Brazil, or Venezuela, or - for that matter - China, where cooks and nannies can be hired for a few dollars a day.
Yet the minorities are on track to become the majority and we’ll find ourselves ruled and govened by the least productive (economically) people in the country.
Everyone leaves out the most obvious reason of all.
White people can be fired and white males especially. You
can fire a white male for any reason at all and it’s no
problem. Blacks, latinoids and women have easy recourse
and access to organizations devoted to their rights in the
workplace but not whit males. So the best employee to have
is the one that actually has to compete and turn the best
prophet for the employer.
Lots of ultra-rich people skew the stats who’s families have been amassing wealth long before black people were accepted in society. And some even before the USA existed. Sure, it doesn’t feel “fair” to people who weren’t born rich but your family could someday be just as wealthy.
I’ll bet if they compared the middle 50% households of each race, there wouldn’t be much difference and Asians would beat everyone.
Gee. Could that have anything to do with doing the right thing, for the right reason, at the right time?
Repeatedly?
diverse: of a different kind, form, character, etc.; unlike:
unequal: not equal; not of the same quantity, quality, value, rank, ability, etc.:
Yet “diverse” is considered good, and “unequal” is considered bad.
Legalize heroin and crack. Hell, let them pay for a business license to open up a street corner hot dog stand / drug dealer / baby food supplier for one stop shopping for all the single white, black, hispanic trash mothers.
Heck, declare Heroin, crack, crank, meth a Federally subsidized abortifacient, that will make sure states have no say in the matter.
Just pass an ordinance to not dispose of bodies in the public view. Na, Na, we’ll have somebody go around ringing a bell chanting “Bring out your dead”.
- also, lack of a husband in many AA families.