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Perhaps your wealthy neighborhood is the exception and not the norm? Or would you say that wealthy Black neighborhoods like yours are the norm and the hoods are few? For me, cities with large or sizeable Black percentages or populations come to mind: Detroit, Newark, Wash. DC, Baltimore, Philadelphia, NYC, New Orleans, Atlanta, Houston, Oakland, St. Louis. I've been to most of these minus one. I know what I've seen. Have you traveled to other cities listed above? I'm not being facetious, honestly did most of the Black areas look like your wealthy neighborhood?
Calipoppy was making a point, raised earlier in the thread, regarding generalizations about race. At a private school in Philadelphia I know, more than half of this year's graduating class was black. According to many who have posted in this thread, that must mean that the government is handing out private school tuition (it's not). There is a significant black middle class here, many of whom are building and passing on wealth. Are there poor black neighborhoods? Sure, but to intimate (again, as many on this thread have) that this is the predominant black experience is no less ridiculous than the claim that all white people get an inheritance. Many on this thread have used one segment of the black population to define them all, and have done so without seemingly a thought that there is far more diversity within that population than they think.
btw, I'm commenting in general, not directing this at Klassyhk, who asked a reasonable question.
I am Black and I grew up in a wealthy predominantly Black neighborhood in Los Angeles (View Park). Perhaps you simply do not know where to seek a more balanced perspective.
True that. I'm not black. I'm Appalachian. Most of my kin don't have two nickels to rub together. Most of the black people I know I met in college. Their families all had more money than mine. Some of them could have probably bought the town I was from without tapping a credit line. There's nothing black or white about wealth but there are numerous cultural subgroups in this country whose ancestors were handed the short end of the stick by big business and government in the 19th and 20th century. Not only does that create a more challenging economic playing field, it also seems to encourage upper middle class suburban white people to spend a lot of time talking smack about poor people to distract themselves from the fact that it was their ancestors who disproportionately benefited from the creation of the underclasses.
It's mostly the environment, parenting and "hood" culture that keeps many down. I would say parenting is number the one reason.
Not always. Poor whites live much the same way - babies before marriage. In fact, the largest population increase of single parent, out of wed lock teen pregnancies is among working class whites. White people who work in a skilled trade, for the government, in jobs such as elementary education, nursing, police, fire and emergency workers, IT, and enlisted military.
A good portion of these working class whites do own their own homes, but are not going up the social or economic ladder. They are just treading water.
And having children out of wedlock never increases family net worth - it's always an impediment to family economic growth and achievement.
Blacks are not the only ethnic group producing out of wed lock kids.
I am the daughter of Jewish Holocaust survivors; my maternal grandfather was killed in Auschwitz concentration camp and I can assure you nobody in my family got "money for their suffering" after moving to the US or at any other time.
Also. my sister and her husband both moved to Israel (separately; they met and married there) and neither of them were given $25,000. My sister actually started and ran a business; no big "guaranteed business grants" for her.
Can you provide cites for your claims?
1. On the first claim I already provided the link. This is historical fact, jew holocaust survivors and their descendants got money. Either your parents did not claim it, where unaware or lied about it to you. Further I've seen cases in well publicsized shows like 60 minutes where jew holocaust survivor descendants have and are still since the year 2000 recovering art stolen from them by the nazis. Do black people from Oklahoma black wall street get their art back? Do black people who are descendents of those who built the white house and DC get money for their labour from the government?
2. This 2nd website link establishes jew immigrants get a host of free money, virtually no property tax, free education to the masters level for them and their children, discounts and tax waivers on israeli made goods and $4000 per adult and $2000 per child further 70% apply for and receive grants covering a "wide range". I cannot quote large paragraphs because I have received a warning for it. Not just Zionism: Lousy economy pushes more U.S. Jews to move to Israel - Israel News | Haaretz Daily Newspaper
3. Guaranteed loans up to 90k nis=25k usd The Israel Free Loan Association | Israel Business
5.This Israeli government website shows how much money one will get for moving to israel if they are jewish
For a married person with 3 kids, 1 in each category (under 3, between 4-17, and over 21), they would receive in total compensation $61,000. This is called Sal Klita (Absorption Basket) Calculator Sal Klita (Absorption Basket) Calculator
6. If you are a single man you will receive $1,200 at the airport $1,300 at the local Misrad Haklita Branch and 6 installment payments adding up to $18,000.
7. Now I know you are going to turn around and say, well I can't afford to move to israel, don't worry, the american and german tax payer, i mean the israeli government will pay for that too Eligibility for Nefesh B'Nefesh Financial Aid and Services
8. Lets look at all the other benefits the state of israel will give you just for being jewish Aliyah Benefits Timetable of Aliyah Benefits for Olim Chadashim Aliyah Benefits
More than I could reasonably list and includes free healthcare. Can black people get free healthcare from their government? I am white, my people built this country to a great degree with the assistance of black people and mestitzos when do we get free healthcare?
9. Why would you lie about your family receiving money, did you think i was too stupid to find all the money and free benefits jews in israel were getting posted everywhere online by the government of israel?
Black people got nothing, less than nothing (because they got nothing from the government but had to pay the same taxes as whites), jews got holocaust money, Israel is getting reparations money from Germany and America in the form of billions in aid and get thousands of dollars just moving to Israel. Shame on those of you who receive all that money and pretend you aren't trying to compare your suffering to black peoples.
I am black guy and grew up in a somewhat poor community. There are some disadvantages but more in lack of positive role models. Most young black kids are raised in single family homes where the mom struggles and the school are filled with negativity and gang related kids. Also, the mom is most likely uneducated, so education does not become important as for a wealthy family who knows the benefit of education.
In short, its all about lack of education involving career goals, finance, HARDWORK, HARDWORK, planning, decision making, and avoiding public opinion.
I am 33 now and had to learn these things the hard way about fiance, but I was ambition enough to earn my engineering degree by 25 years old, after some delay from messing around now being serious.
If I can pick one reason most blacks are not wealthy, its education (knowing exactly what to do gain wealth)
Lack of education plays a big part. That being said, it is not the only part. This problem goes far back. The average net wealth of a middle class African-American family is often less than that of a working class White family. History plays a big part in this. Blacks didn't have as much opportunity to build as much wealth as White were able to build. Today, there are more Blacks in the middle class than ever, more Blacks with college education than before. Black owned businesses are on the rise. Ironically, Blacks have higher rates of unemployment than anyone else.
Thread moved to P&OC as relevance to personal finance has diminished.
Excellent solution -- heave the thread into the land of the tinfoil hat rather than kill it more expeditiously.
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