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Ofcourse it is skewed! You just have to take a look at the net worth of the top 100 billionaires and see how ridiculous their wealth is compared to the rest of America. I don't get how this benefits a majority of the white population other than for some people to use this data to thump their chests saying 'See, Whites are more hardworking than the rest and the rest are just moochers'.
If you want to check how well the middle class from each race is doing, you need to compare middle class wealth across all races. Whites come out second, Asians come out on top. And if you exclude Jews, whites will probably come out third.
What a useless thread! Not to mention that the caucasian population get the advantage of 'being free to work hard and earn money' for more than 200 years before the blacks and hispanics did.
Ofcourse it is skewed! You just have to take a look at the net worth of the top 100 billionaires and see how ridiculous their wealth is compared to the rest of America. I don't get how this benefits a majority of the white population other than for some people to use this data to thump their chests saying 'See, Whites are more hardworking than the rest and the rest are just moochers'.
If you want to check how well the middle class from each race is doing, you need to compare middle class wealth across all races. Whites come out second, Asians come out on top. And if you exclude Jews, whites will probably come out third.
What a useless thread! Not to mention that the caucasian population get the advantage of 'being free to work hard and earn money' for more than 200 years before the blacks and hispanics did.
I think this is the premise of the OP.
Whites have had time to build wealth,while blacks had when? From 1964?
Also,your bias is showing,sorry to say. Jews aren't that far ahead of whites in terms of wealth.
Of course you might think so,but I'm guessing you never have seen the poor jews in Brooklyn?
I do know,and I'm certainly not bragging,but whites are taught how to invest,and save up money.
Whereas minorities spend it on expensive things(some do)
I wonder how hispanic wealth is larger than blacks wealth?
Where are Native Americans at in the study?
Jazzcat22, the income disparity between the whites, hispanics and blacks is well known. Asians also tend to have higher incomes. I do not know why they were not included.
With the rally in the stock market these past few years, higher income families have reaped more benefits since more of their wealth is tied in stocks.
The data you showed is a bit leading. First it does not show a whole demographic group (Asians). Also it uses average as opposed to median. You can get a much more accurate picture by looking at median wealth as this negates the super wealthy outliers. Lastly, it counts home equity as wealth and most sources I have seen do not do this.
This is not so much of a race issue as it is a wealth issue, that is, the rich got richer and the poor got poorer regardless of race.
I think this is the premise of the OP.
Whites have had time to build wealth,while blacks had when? From 1964?
Also,your bias is showing,sorry to say. Jews aren't that far ahead of whites in terms of wealth.
Of course you might think so,but I'm guessing you never have seen the poor jews in Brooklyn?
Nope, No Bias. Just plain facts. If you see a bias, call out which part of my post is biased.
Asian American : $68,089[1]
Pacific Islands American : $ 58,859[1]
White American : $ 54,857[1]
Total Population : $ 51,914[1]
Native American : $ 38,806[1]
African American : $ 35,341[1]
Also, as far as jews go, here's something:
Quote:
Socioeconomics
As a group, American Jews tend to be better educated and earn more than Americans as a whole[78] Forty-six percent (55% of Reform Jews) report family incomes of over $100,000 compared to 19% of all Americans, with the next highest group being Hindus at 43%.[79] And while 27% of Americans have had college or postgraduate education, fifty-nine percent (66% of Reform Jews) of American Jews have, the second highest of any religious group after American Hindus.[80][81] 25% of American Jews hold a graduate degree, this figure is compared with the general American population where 6% of Americans hold a graduate degree. While 46% of Americans work in professional and managerial jobs, 61% of American Jews work as professionals, many of whom are highly educated, salaried professionals whose work is largely self-directed in management, professional, and related occupations such as engineering, science, medicine, investment banking, finance, law, and academia.[82]
I do know,and I'm certainly not bragging,but whites are taught how to invest,and save up money.
Whereas minorities spend it on expensive things(some do)
Middle class and above families invest because they have disposable income and its not a 'white' thing. Its been done throughout ages and is done by all races in America who have disposable income.
Your bias clearly shows here when you make a blanket statement saying minorities spend on expensive things while whites invest. Provide data please.
This is not so much of a race issue as it is a wealth issue, that is, the rich got richer and the poor got poorer regardless of race.
This may be true, but richness and poorness are not race-independent to begin with. Also, while the trend would be less stark, it would be quite the same if based on medians rather than averages.
Wealth meanwhile is a context-dependent variable. In any given bit of analysis, one must come up with a seemingly suitable definition and then stick to it. Most basic analyses would include home equity as wealth in that it can be both liquidated and borrowed against.
I don't understand how this works? Do you mean that "we" (whoever "we" might be) have allowed "them" the freedom to dissipate themselves? While Papa of the Temptations was chasing women and drinking, my dad was working and saving from scratch, thanks to the Depression. When the Temptations version of Papa died, all he left them (his family, such as you might define a family based on absentee parenting and illegitimacy) was "alone." When my dad died, all he left me was "a lot." I will be leaving my kids a lot more, since I have worked, saved, and invested with that purpose in mind. By the way, I am pleased to hear that Asian-Americans are doing the same kind of thing. I wonder if it has anything to do with their cognitive ability?
Recalling the Temptations reminds me of the early 1970's. Where I worked at the time, the parking lot had an informal subdivision where the "superflies" (their term) parked their Cadillacs, Imperials, and Lincolns side by side in some kind of grotesque competition. I drove a VW at the time. Whereas they were enthralled by "Shaft," I was enthralled by graduate school. So, 40 years later we have a wealth gap. My kids are doing great, and theirs are in jail. I am shocked. Shocked! Surely I am a bad person for having allowed all this to happen.
Asian American : $68,089[1]
Pacific Islands American : $ 58,859[1]
White American : $ 54,857[1]
Total Population : $ 51,914[1]
Native American : $ 38,806[1]
African American : $ 35,341[1]
The kind of bias involved might be immigration bias.
But more generally, what would this data set look like if were worldwide rather than limited to just the USA? After all, Martians didn't colonize the USA and endow it with Original Wealth in 1615. For example, what is the average or median income of Asian Indians living in India? Or Blacks living in Africa? Or Chinese living in China? Or Whites living in the USA, Australia, Europe, etc?
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