posted on May, 18 2010 @ 11:14 PM
A $95,000 question: why are whites five times richer than blacks in the US?
• Study finds gaping racial divide in household assets
• Economic policies blamed for growing inequality
A huge wealth gap has opened up between black and white people in the US over the past quarter of a century – a difference sufficient to put two
children through university – because of racial discrimination and economic policies that favor the affluent.
A typical white family is now five times richer than its African-American counterpart of the same class, according to a report released today by
Brandeis University in Massachusetts.
White families typically have assets worth $100,000 (£69,000), up from $22,000 in the mid-1980s. African-American families' assets stand at just
$5,000, up from around $2,000
A quarter of black families have no assets at all. The study monitored more than 2,000 families since 1984.
"We walk that through essentially a generation and what we see is that the racial wealth gap has galloped, it's escalated to $95,000," said Tom
Shapiro, one of the authors of the report by the university's Institute on Assets and Social Policy.
Notice the article starts off by blaming "economic policy's" for the gap in asset values of comparable black/white familys...
I challenge anyone to produce evidence of any economic policy that favors white people above other races! This is insane! I am totally disgusted by
this attempt to once again vilify white people for the sad state of affairs within community of minority's!
The United States and UK bend over back wards to create an equal playing field for various races, so much so that it has become unequal to whites.
Affirmative action anyone?
I have a theory as to why there is an asset gap between whites and blacks! The real culprit is news pieces like this! I has to be rather discouraging
for a minority to read garbage like this and then want to go out and create wealth, believing economic policy's exist that have the deck stacked
against them. So why even try? Might as well just go on welfare like everyone else in the neighborhood!
Debunking the disparity between whites and blacks that earn equal incomes is easy. Whomever saves more of their money will have more money! There is
no policy that requires black people to go out and purchase new Jordan's and Gucci purses and forbids them from creating a Scott-Trade account! Any
bank will be happy to set up an IRA for you regardless of what color your skin is!
I believe firmly that black people spend money to look rich, while white people save money to be rich!