In the Spirit of They Say,
Bernie speaks to income inequality and about political revolution.
Video: Why the racial wealth gap won't go away
For many black and Hispanic families in the United States, achieving financial security remains frustratingly out of reach
A big reason for that is that blacks and Hispanics have far less wealth to start with than their white counterparts -- a concept known as the racial wealth gap.
Wealth, or net worth, is the value of assets including your home, retirement savings and income minus the debt owed against those assets. According to federal data, the median wealth for white familiesin 2013 was around $141,900, compared to Hispanics at about $13,700 and blacks at about $11,000.
"Everyone is pushing a boulder up a steep hill, but for African-American and Latino families it's a much steeper climb," said Jeremie Greer, the vice president of policy research at the Corporation for Enterprise Development, a Washington, D.C.-based economic think tank. Those families "are less financiallysecure than they've ever been," he said ...
http://money.cnn.com/2016/01/25/news/economy/racial-wealth-gap/index.html
A new report issued by CFED paints a sobering picture of the economic future for many families of color, despite federal policies and programs that were created to help struggling Americans
...
Bernie speaks to income inequality and about political revolution.
Video: Why the racial wealth gap won't go away
For many black and Hispanic families in the United States, achieving financial security remains frustratingly out of reach
A big reason for that is that blacks and Hispanics have far less wealth to start with than their white counterparts -- a concept known as the racial wealth gap.
Wealth, or net worth, is the value of assets including your home, retirement savings and income minus the debt owed against those assets. According to federal data, the median wealth for white familiesin 2013 was around $141,900, compared to Hispanics at about $13,700 and blacks at about $11,000.
"Everyone is pushing a boulder up a steep hill, but for African-American and Latino families it's a much steeper climb," said Jeremie Greer, the vice president of policy research at the Corporation for Enterprise Development, a Washington, D.C.-based economic think tank. Those families "are less financiallysecure than they've ever been," he said ...
http://money.cnn.com/2016/01/25/news/economy/racial-wealth-gap/index.html
A new report issued by CFED paints a sobering picture of the economic future for many families of color, despite federal policies and programs that were created to help struggling Americans
...
