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'two societies, separate and unequal' - give me a break. Your household net worth falls from the equivalent of a 3-year-old Ford Taurus to the equivalent of a 5-year-old Ford Taurus and that puts you in a "separate society"?
The gap is way above the Taurus level. The difference between the top of the middle class at around 250k/yr income and the real rich at 25 million/yr is the separation of societies. The earners are economically and socially very different from the owners. That gap has been growing since Nixon and shows no sign of slowing down any time soon.
The lower income folks are not considered worthy of having a society so are generally ignored by the rulers
The gap is way above the Taurus level. The difference between the top of the middle class at around 250k/yr income and the real rich at 25 million/yr is the separation of societies. The earners are economically and socially very different from the owners. That gap has been growing since Nixon and shows no sign of slowing down any time soon.
The lower income folks are not considered worthy of having a society so are generally ignored by the rulers
I was commenting on the article posted in this thread...
Seems most of that increase for Whites was due to stock market investments (401K, investing, IRA, etc) while the minorities put all their money into housing.
And we all know what happened to housing. The government push to get minorities into homes seems to have backfired.
Seems most of that increase for Whites was due to stock market investments (401K, investing, IRA, etc) while the minorities put all their money into housing.
And we all know what happened to housing. The government push to get minorities into homes seems to have backfired.
This is true, as a black man I was taught the importance of owning a home and how home ownership equals profit and that's not the case currently. I had a couple family members buy and sell and make a quick 60 to 100 grand but the majority of us weren't so lucky.
We needs to invest more and stop thinking homes equal massive profit. I agree with you on this. I don't think the government pushed minorities into homes just poor people who are mostly minorities.
I don't see a point in the government pushing poor into middle class neighborhoods knowing these people are the ones paying the majority of the taxes, you don't want to **** them off.
The only "wealth gap" I'm concerned about is black/white gap, because blacks have been in this country for almost as long as "whites" and in many cases, longer. If we want to look at Hispanics as some monolithic group, then the majority of "them" (whatever the definition is) are a relatively new immigrant ethnic group to the United States, and have very large contingent are recent immigrants or first or second generation only.
Let's talk in a hundred years or so, assuming our current immigration policies do not continue to encourage only the lowest rungs and unskilled of "Hispanic" society to immigrate here. I'd actually be interested in examining the breakdown in wealth among the various races that make up "Hispanics."
How about Asians? I bet their numbers are closer to Whites' numbers. Want to speculate as to why? Oh, you can't handle the truth.
Even recently immigrated blacks . Look at Jamaicans , they do well .
Not all people were meant for our country's work ethic , the Asians decided to come here to a " pass or fail society ". All the whites families wanted to come and try to make a better life 99% of Europe did not .The rest of Asia and Europe is happy with every one getting the same , not striving for excellence .
We have the descendants of slaves who did not have a choice , 99% would not have made the effort to come here . Getting a hand out is not the American way , its what we are stuck with .
If you dragged over the same number of Europeans at random giving them no choice , I bet you would get the same result.
We have motivated Europeans and pot luck Africans .
Read the article. The wealth from Whites came from investing (stock market, 401K, IRA, etc) while the minorities put all their money into housing.
And we know where housing went didn't we ?
Thank the government for pushing minority ownership in housing.
Nobody "pushed" minorities into owning homes. The standards were lowered to allow poorer people (many of whom are minorities) to purchase homes.
Home ownership is one way to stablize neighborhoods. If stability and improvement of minority neighborhoods is a goal we all have, then it was a good idea on paper, just effed up by greedy bankers who made a killing while the gettin' was good, and then took their ball and went home once the *** was up.
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