Black Money Business Jobs : The Average Black Family Would Need 228 Years to Build the Wealth of a White Family Today

Liberty

Banned
MEMBER
Aug 28, 2015
6,914
1,212
Just as past public policies created the racial wealth gap, current policy widens it.

racial_wealthgap_rtr_img.jpg

Job seekers stand in line to attend the Dr. Martin Luther King Jr. career fair held by the New York State Department of Labor. (Reuters / Lucas Jackson)

If current economic trends continue, the average black household will need 228 years to accumulate as much wealth as their white counterparts hold today. For the average Latino family, it will take 84 years. Absent significant policy interventions, or a seismic change in the American economy, people of color will never close the gap.

Those are the key findings of a new study of the racial wealth-gap released this week by the Institute for Policy Studies (IPS) and the Corporation For Economic Development (CFED). They looked at trends in household wealth from 1983 to 2013—a 30-year period that captured the rise of Reaganomics, expanded international trade and two major financial crashes fueled by bubbles in the tech sector and housing prices. The authors found that the average wealth of white households increased by 84 percent during those three decades, three times the gains African-American families saw and 1.2 times the rate of growth for Latino families.

Read more

https://www.thenation.com/article/t...-to-build-the-wealth-of-a-white-family-today/
 

Clyde C Coger Jr

going above and beyond
PREMIUM MEMBER
Nov 17, 2006
58,899
11,927
www.amazon.com
Occupation
Speaker/Teacher/Author
Thanks for posting this and bringing this to our attention.
In my humble opinion this will be a ongoing trend in America.
The system is setup on the surface to support a lie in order
to allude us into thinking that we are making stride and a economic impact while underneath they enacted a poverty stricken mechanism
to prevent us from resurrecting a "black wall street".
They are now has subjected us to a permanent underclass; they has this in place every since our so called freedom from slavery.

We as a people will overcome this, but there is a lot of work and thinking that must change in order for us to rise above this.


No, thank you for finding this, I should have known we had it before doing a Google search ... :spank:

...

In the Spirit of Thread Consolidation,


It will take 228 years for the average Black family to catch up to the wealth of the average white

Discussion in 'Black Money Business Jobs' started by Ujamaa Fraternal Dynasty, Monday at 3:32 PM

https://destee.com/threads/it-will-...h-up-to-the-wealth-of-the-average-white.87510/

...

 

Titoub

Well-Known Member
MEMBER
Dec 17, 2015
54
21
The people that calls them selves white knows this therefor there will be no change in it from them... We need to change this ourselves.
 

GrayMatter

Active Member
MEMBER
Aug 17, 2016
41
5
What pieces of wealth building can we control to reverse the trend?

How many of us have wills and trusts to pass assets to heir minimizing tax burden?
http://thevirtualattorney.com/blog/shocking-statistical-look-estate-planning-infographic

Only 20+ percent. That means the state will tax our assets to high heaven handicapping the next generation compared to whites. Simple 2 hour meeting with a lawyer could flat out eliminate that.

many of us have life insurance?
studies show we outpace Whites on this metric controlling for income and employment. However, we have far higher mortality rates so when you control for that, we could still be underrepresented.

What is our avg savings rate?
Couldnt find solid data but what i did find shows whites save more and own homes. Both these things we can work toward and reverse trends.

The 'system' doesnt force us to spend disposable income and ignore retirement and wealth planning. We have to be accountable for our own financial literacy.

Not gonna get into 401Ks, IRAs, and tax deferred savings plans that often feature employer matching.

If this is an issue for us, we need to take control of our destinies. It wont take a miracle, just a bit of planning.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Thread starter Similar threads Forum Replies Date
U Black Money Business Jobs : It will take 228 years for the average Black family to catch up to the wealth of the average white Black Money Business Jobs 37
A Black Money Business Jobs : The Average Black Person Can Make Major Money Black Money Business Jobs 2
Destee Health and Wellness : Black Women Infected With H I V 5 Times Higher Than National Average Black Health and Wellness 114
Destee Black People : Are You Smarter than the Average Black Person? Black People Open Forum 19
D Black People : Black men and women are NOT average in SURVEY of SEX in AMERICA Black People Open Forum 2
crwn Black People : Americans' Average Net Worth by Age -- How Do You Compare? Black People Open Forum 0
KingSango Black People : Reports of 5 times decade average of Americans renouncing their U.S citizenship. Black People Open Forum 0
Keita Kenyatta Jails / Prisons : Incarceration rate for African-Americans now six times the national average Law Forum - Prisons - Gun Ownership 2
MsInterpret Black People : 17 year old girl: I slept with an average of 7 men in a day Black People Open Forum 12
R Black Spirituality Religion : Techniques to help ones mind function on a higher level: Using more than the average Black Spirituality / Religion - General Discussion 23
D Black People : $34.06 an Hour That’s how much the average public school teachers makes. Is that “und Black People Open Forum 3
D Black People : Light skin people in the United States make more money on average than dark skin Black People Open Forum 2
jamesfrmphilly Black Sports : sixers average 101 PPG Black Sports 1
P Black Poetry : Average N.... Black Poetry - Get Your Flow On! 8
R Black Poetry : yeah black history is a whack mystery and my back still blistery from being whip lashed , ready to grip some cash and run to the underground railroad Black Poetry - Get Your Flow On! 0
Kemetstry Black Entertainment : JUDAS AND THE BLACK MESSIAH Black Entertainment 28
Clyde C Coger Jr Health and Wellness : 'African Gene Theory' Is a Myth, and It's Harming Black Men's Heart Health Black Health and Wellness 0
Fine1952 Black Money Business Jobs : Black On The Bottom Policies - Tariq Rasheed Black Money Business Jobs 0
Clyde C Coger Jr Black People Politics : Barack Obama opens up about the difficulty of 'being a functioning Black person in America' in surprise appearance Black People Politics 2
Clyde C Coger Jr Black Christians : Feeling politically powerless, black Christians find more comfort in black church: study Christian Study Group 1
Clyde C Coger Jr Black People Politics : Black Women Aren't Saving America For You. They're Protecting Themselves Black People Politics 0
Clyde C Coger Jr Black Travel : For Black Americans, a Heritage Trip to West Africa Can Be Life-Changing Black Travel 0
Kemetstry African American History Culture : THE BLACK SPARROW African American History Culture 2
Fine1952 Black Money Business Jobs : Black Tax: The Cost of Being Black In America Black Money Business Jobs 0
Clyde C Coger Jr Black Positive People : Black female scientist at forefront of COVID-19 vaccine development Black People Doing Positive Things 2
Clyde C Coger Jr Black People Politics : Joy Reid nails the difference between white and Black people after Capitol riots Black People Politics 4
Destee Pets / Animals : Black the Rottweiler - playing with his toy Pets / Animals 1
Clyde C Coger Jr Health and Wellness : America has an urgent need for Black doctors: 'It's hard to be what you can't imagine' Black Health and Wellness 0
One-Hundredd Black Entertainment : Jewels of Wisdom found in GTA 5's Black protagonist Franklin Clinton Black Entertainment 2
Clyde C Coger Jr Black People : Kwanzaa Is Not ‘Black Christmas’—Here’s What It Actually Is (And How We Celebrate) Black People Open Forum 2
Discerning Black People Politics : Black People: Know your REAL enemy Black People Politics 14
OldSoul Black People : "Elijah Muhammad was the greatest psychologist that Black people ever created, bar none" Black People Open Forum 0
OldSoul Black People : "Elijah Muhammad was the greatest psychologist that Black people ever created, bar none" Black People Open Forum 1
Clyde C Coger Jr Black Parenting : The reality of Black men's love lives and marriages is very different than what's usually shown on TV – I spent years actually talking to them Black Parenting 0
Clyde C Coger Jr Black Education / Schools : A Black Student's Mother Complained About 'Fences.' He Was Expelled Black Education / Schools 0
Kemetstry Black Money Business Jobs : BLACK OWNED ATH;ETIC BRANDS Black Money Business Jobs 0
Clyde C Coger Jr African American History Culture : Black Native American descendants fight for recognition African American History Culture 2
Clyde C Coger Jr Black Relationships : New Book Claims the Destruction of Black Relationships Is 'America's Unrecognized Civil Rights Issue' Black Relationships 0
Kemetstry Black Money Business Jobs : BLACK OWNED HAIR CARE PRODUCT LINE IN NEIMAN MARCUS Black Money Business Jobs 0
Fine1952 Black People : The Black Tax - *Black Lives Still Don't Matter* Black People Open Forum 25
OldSoul Black People : CONSCIOUSNESS RAISING ONLINE - Nov 15, 2020 - Topic: Black People Dont Want No white God Black People Open Forum 0
C Black People : The Destruction Of The Black Afrikan Woman Black People Open Forum 0
Clyde C Coger Jr Black Positive People : 'You are my wildest dream': Sydney Barber will be first Black woman to serve as US Naval Academy brigade commander Black People Doing Positive Things 0
I_AM_HER Steals and Deals : Black woman -owned Candle Shop in Houston, TX Shopping - Steals and Deals! 0
I_AM_HER Black Women : A black woman's experience and the failed U.S. healthcare system Black Women 0
Discerning Black People Politics : Take that, you Black and Latino defectors! Black People Politics 8
Clyde C Coger Jr Black Spirituality Religion : Louisiana man sentenced to 25 years for burning Black churches Black Spirituality / Religion - General Discussion 0
C Black People : Will The Black Divine Beings Ever Rise Again? Black People Open Forum 1
C Black People : The Problem With Black Afrikan People Black People Open Forum 0
C Black People : Black Afrikans Has No Knowledge Of Need Black People Open Forum 0
Similar threads


















































Destee Chat

Latest profile posts

Destee wrote on rhymebad's profile.
@rhymebad ... i love you ... :love: ... what was going wrong about polls and being blocked and stuff?
Destee wrote on pdiane's profile.
Welcome Home Sister! :love:
pdiane wrote on panafrica's profile.
Hey Destee, thank you for still being here! You are loved!
pdiane wrote on panafrica's profile.
I'm Black on Destee, I feel at home! It's been a while! Soooo in 2004 I married my Senegalese Husband, when I first went to Senegal, I loved, it! The people were hospitable and my husband's family was very kind! Well I've been there many times now, have taken African Americans, well over 150 and it has been an amazing experience!
Free as free can be
Top