Tony Posted May 17, 2010 Share Posted May 17, 2010 What's behind this pretty shocking report? A $95,000 question: why are whites five times richer than blacks in the US? 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 favour 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. Full story here Link to comment Share on other sites More sharing options...
Panthera Posted May 17, 2010 Share Posted May 17, 2010 ask 50 cent Link to comment Share on other sites More sharing options...
epiphany Posted May 17, 2010 Share Posted May 17, 2010 Poorer inheritance? It's a large part of giving people the assets they need to get a foot firmly on the ladder. Education is particularly expensive in the US. The article makes a good point in that... "African-Americans, before the 1960s, first by law and then by custom, were not really allowed to own businesses. They had very little access to credit. There was a very low artificial ceiling on the wealth that could be accumulated. Hence there was very little, if anything, that could be passed along to help their children get to college, to help their children buy their first homes, or as an inheritance when they die," This is why inheritance is a big deal as far as equality. Not every financially successful person is truly "self made" if they really look at where they've come from. Of course, this is why we have the ridiculous situation of a handful of family "dynasties" dominating the so-called free markets from generation to generation. Link to comment Share on other sites More sharing options...
ValleyBoy Posted May 17, 2010 Share Posted May 17, 2010 Because on average they have bigger Brains simple. Link to comment Share on other sites More sharing options...
AJ sheffield Posted May 17, 2010 Share Posted May 17, 2010 Who cares. Link to comment Share on other sites More sharing options...
Tipex Posted May 17, 2010 Share Posted May 17, 2010 Does it matter? maybe black people are happier than rich white people. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted May 17, 2010 Share Posted May 17, 2010 Does it matter? maybe black people are happier than rich white people. Maybe the black people want the same opportunity to become miserable and rich? Link to comment Share on other sites More sharing options...
bizzle Posted May 17, 2010 Share Posted May 17, 2010 Jeez, whats with the nasty comments? I don't understand why what race you are has to play up against how rich one is. Some people are rich some people are not. Race should not come into. end of. Obviously some people like to make something out of nothing & bring race into the matter as an indirectness. Link to comment Share on other sites More sharing options...
chem1st Posted May 17, 2010 Share Posted May 17, 2010 Tax system. Initial wealth. Rates of pay. Everyday expenses, family size etc. Yorkshiremen vs Southerners and its the same thing. Link to comment Share on other sites More sharing options...
Tipex Posted May 17, 2010 Share Posted May 17, 2010 Maybe the black people want the same opportunity to become miserable and rich? Well whats stopping them? Link to comment Share on other sites More sharing options...
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