Whites 5x richer than blacks in the US

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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!

reply to post by Niccawhois


Sort of like saying 'all roads lead to Rome'?

A-nd none of them lead to israel....

Is this one of those lump sum deals where you take every white and compare it to all blacks? Sort of skews it, yes? (please understand that those guys who call you traitors on the msm are millionaires). Most whites are struggling.

None of those disparity studies move me. They imply redistribution of wealth, wealth which is not the end all. Thank God they cannot redistribute spirit.

I call hate crime!!!

Kidding.

But did you know htat with a hate crime inhibitor they can multiply your sentence?

I didn't because it is all BS.

The truth is that the mystery religion babalon, altered the texts and actively sought to make muslims and chrsitians go to war with eacth other.

Faithful until death.

reply to post by Niccawhois


Personally, I think the whole study is bunk unless we can see how the figures were arrived at.

If Billionaires like Warren Buffet, and Bill Gates and the WalMart heirs, etc., are being included when averaging "white" assets, it can make the numbers look absolutely ridiculous.

"Averaging" can be highly misleading. For example, the oft repeated and technically true statement that the "average life expectancy was 40 at the turn of the century."

Its true, but only because of the way averages work. The reason the "average" age of death was so low was because of a very high infant mortality rate. If you factored that out, people who made it to adulthood lived only about 5-7 years less than we do now on average.

So, without seeing how they arrived at this average, I wouldnt get too riled up either way.

Well, the reason BLACKS don't have as much money as WHITES is because BLACKS have bigger families. They also lend money that is never paid back, and help cousins go to school. They also help their brothers, sisters, aunts and uncles. They help the family out with legal and family problems too.

Thats why BLACKS have less money than whites.

.... No, seriously. It is, lol.

There were also social factors, the study found. "In African-American families there is a much larger extended network of kin as well as other obligations. From other work we've done we know that there's more call on the resources of relatively well-off African-American families; that they lend money that's not given back; they help cousins go to school. They help brothers and sisters, aunts and uncles, with all kinds of legal and family problems," said Shapiro.

Grrrrr why do people keep letting themselves be prodded by that pot stirring msm they're being as provocative as they can to keep flaring up racial tensions that should have been left in the past. Divided you fall, and your being succesfully divided for the most inane little differences.

WTF is a black or white family? Im sick of hearing that term. Black what, hair? White teeth? WTF does the colour of a persons skin have to do with their income? And why is so much more important than any other physical characteristic about them. Why is it some americans mention their skin colour before even their age or sex when introducing themselves on that reality tv I cant stand to watch. The race issue is alive and well in the U.S much of the blame goes to the controlers and programmers for this.

Sure skin pigmentation may be taken into consideration in detailed studies and surveys but the media is the one that picked out that result and spread it deliberatly to cause tensions.

The people of america need to Unite..... and stop letting the media label them and then divide them

I am someone who believes it is more difficult for a black person to be taken as seriously as a white person anywhere in the world. In Asia, the Middle East, a lot of Europe and even a lot of Africa don't respect black people the same way they would a white person. HOWEVER, this study...let's say they averaged all the white people's income. The super rich people are undoubtedly for the most part white and the very wealthy are too...however this doesn't make up the majority of white people. Doesn't even make up most or a lot of white people. Most white people aren't like that and far from it. So this average is very skewed and cannot represent ALL white people or even most white people because the average white income is brought up by the super rich people and very wealthy (and there is a large enough disparity between regular people and them to bring up the average substantially).

[edit on 19-5-2010 by MrDarlingFace]

reply to post by Niccawhois


And blacks are 5x more likely to be Democrate....hmmmmm

reply to post by polarwarrior


You don't understand that there is a class war in america and most of the minority that pulls the hate crime card or social injustice card are pawns.

reply to post by Niccawhois


When 70% of black kids are born into single parent families they are destined to not be successful. The incidents of drug and alcohol abuse, criminal conduct, high school drop rates are all significantly higher in single parent families, white or black.

Welfare, which starting in the 60s devalued the black family and eroded the social consequences of not creating and maintaining a nuclear family is the reason for these statistics.

Originally posted by RestingInPieces
Well, the reason BLACKS don't have as much money as WHITES is because BLACKS have bigger families. They also lend money that is never paid back, and help cousins go to school. They also help their brothers, sisters, aunts and uncles. They help the family out with legal and family problems too.

Thats why BLACKS have less money than whites.

.... No, seriously. It is, lol.

Wow, that sounds just like Indian immigrants too, but then most of them are rich....

Originally posted by dolphinfan
reply to post by Niccawhois

 

When 70% of black kids are born into single parent families they are destined to not be successful. The incidents of drug and alcohol abuse, criminal conduct, high school drop rates are all significantly higher in single parent families, white or black.

Welfare, which starting in the 60s devalued the black family and eroded the social consequences of not creating and maintaining a nuclear family is the reason for these statistics.

I couldn't have said it better myself! A star for you!

If you live in a nation that rewards family's for not having a father present and earning a low level income, then punish complete family's that work hard to accumulate wealth with higher taxes, exactly what are you trying to achieve?

Originally posted by dolphinfan

When 70% of black kids are born into single parent families they are destined to not be successful. The incidents of drug and alcohol abuse, criminal conduct, high school drop rates are all significantly higher in single parent families, white or black.

Welfare, which starting in the 60s devalued the black family and eroded the social consequences of not creating and maintaining a nuclear family is the reason for these statistics.

The formula is to be an active member in society with either higher education or a needed skill. Both will provide a good life and if anyone no matter what color doesn’t have either they are not going to live very well, also being very talented in something is also a great ticket for a good life, but the vast majority of us don’t have this asset. So look at the demographic of the black population and see what percentage doesn’t fall into one of these three categories and you might get your answers.

Originally posted by Illusionsaregrander
reply to post by Niccawhois

 

Personally, I think the whole study is bunk unless we can see how the figures were arrived at.

If Billionaires like Warren Buffet, and Bill Gates and the WalMart heirs, etc., are being included when averaging "white" assets, it can make the numbers look absolutely ridiculous.

"Averaging" can be highly misleading. For example, the oft repeated and technically true statement that the "average life expectancy was 40 at the turn of the century."

Its true, but only because of the way averages work. The reason the "average" age of death was so low was because of a very high infant mortality rate. If you factored that out, people who made it to adulthood lived only about 5-7 years less than we do now on average.

So, without seeing how they arrived at this average, I wouldnt get too riled up either way.

It took me no more than 10 seconds to find the PDF of the study.

The study didn't use an average income. It used the median income.

reply to post by dolphinfan


Its called poverty and it has the same effect on everybody.

Originally posted by dolphinfan
reply to post by Niccawhois

 

When 70% of black kids are born into single parent families they are destined to not be successful. The incidents of drug and alcohol abuse, criminal conduct, high school drop rates are all significantly higher in single parent families, white or black.

Welfare, which starting in the 60s devalued the black family and eroded the social consequences of not creating and maintaining a nuclear family is the reason for these statistics.

So what are you saying, that it is in the nature of the black family to not be a family because black men haven't adapted to family life?

I fight for truth.

Translate that into 10 different languages. Then give it to the fooreign officer who has orders to kill you.

The only barrier is language.

reply to post by Niccawhois


Were the figures properly weighted? In other words, you have the same number of blacks as whites then finding out how much each made respectively?? In the US, there are more whites than blacks, I assume (hate that word) thats its the same in the UK..

reply to post by rangersdad


Thats just what they do in the UK and thats what they could do here also.

Heres an idea, lets create equality.

We shall have just as many whites as there are blacks and mexicans which means the white and the blacks need to produce more or the mexicans less. Heres another idea, lets all go # ourselves with silver spoons and the fight about the outcome.

reply to post by RestingInPieces


Absolutely not. In the 1950s the black divorce rate was lower than that of whites and a higher percentage of white kids born into single family homes than blacks. When you take that and factor the historic involvement that blacks have had with strong and excellent church communities, the foundation for an exploding black middle class existed in the 1950s.

Then came Lyndon Johnson and the Great Society and the War on Poverty. Those programs provided incentives to not work. Further they provided money to women without husbands, making it easier to not get married. Prior to the advent of these social programs it was extremely diffficult to be a single mother. You had to move in with family members. Welfare and associated programs created the opportunity for independance for many poor and minority women. Don't want to live with your parents any longer? Have a baby, get a government apartment and a check each month. Good deal. Marriage is often hard work and if the government is going to pay you enough to live and eat, for a portion of any population that is incentive enough to not go through the hassle of getting married. In fact, the government in most cases withdrew the cash if the couple did get married. Lay on top of that the additional cash for additional children and you create the situation we have today.

The situation confronted by the black community is due to the fact that the black middle class was just getting established when these programs were put in place. The middle class had not yet been fully established. If it had been, say if these incidious programs were not put in place until the 90s, and the black middle class had had an opportunity to more fully develop, there would be little difference in the statistics between whites and blacks.



[edit on 19-5-2010 by dolphinfan]