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Does anyone really believe that the median income for married, white couples with children is over $160k? Use your brains people. One more racist site making up numbers to push their hate.
It's wealth not income. Not even sure if it's net wealth as wealth has no meaning if there's a mountain of debt.
Looks like someone doesn't understand the difference between Wealth and Income.
No, it doesn't. The chart merely shows that two parent white families tend to own their own homes, rather than rent. Home-ownership requires a proven track record of financial responsibility, which is reflected through a Credit Report. Even when credit sores are sufficient, high debt-to-income ratios function as a bar to home-ownership.
It's a matter of culture and life-style, not institutional racism.
Actually it does show institutional racism....
FYI - I know the difference between wealth and income.
The reason why 2 parent black households have less wealth than single parent white families is because of the remnants of housing discrimination.
Two parent black homeowners, even those who have an income that is equal or greater than a white family, if they live in a predominantly black neighborhood, they will automatically have less equity (wealth) in their home because black neighborhoods are valued less than majority white neighborhoods.
This is a remnant of redlining from the 20th century that valued black neighborhoods as less than predominantly white, no matter any other statistics.
The whole credit spiel you stated above has nothing to do with the facts that due to institutional racism via redlining - something that occurred due to FHA loans (that black families could not take advantage of for many years as well BTW post WW2) the legacy of that racism lives on in our homes being valued less.
FWIW, I have a higher net worth than the OP chart as a 2 parent lead, college educated black family. However, that is only because I own 6 homes. Our first home that we purchased in Atlanta was not worth much money because it is in a majority black neighborhood. Even safe, good school having, majority black suburban communities in Atlanta are not worth as much as a majority white district with the same types of homes. This is because of the legacy of racism in America. My equity on my first home was only $20k when we first bought it and that was easily eaten up due to the housing crisis. Due to that crisis and due to having some other investments we purchased other homes in majority black neighborhoods with cash which we rent out and have full equity (wealth). We still only have about $20k on that original home which I still own. The other houses are in much more dilapidated neighborhoods but due to buying in cash we have $60-$100k in equity/wealth for each of those homes and they provide a source of income due to being rented out.
Black families have to buy 3 homes to equal the equity of a white family's home. It doesn't matter if we have good credit or not or if we have a good job and make a good income. Only if we move around predominantly white people can we have an equitable amount of wealth as white families and if "too many" of us move to those areas, white families will leave and that will decrease the wealth of the black families who remain. White flight is still very much occurring in America today.
Does anyone really believe that the median income for married, white couples with children is over $160k? Use your brains people. One more racist site making up numbers to push their hate.
Median income and wealth are not the same thing. Wealth = net worth. Net worth is your total assets minus your total liabilities.
FWIW, I don't believe the average white family has a net worth even equal to the graphics shown. I think the top 1% of whites in America who own the most valuable real estate in the world inflates the white wealth statistics. If we removed the top .5% of white wealth, I'd bet that the statistics would be similar across the board.
Most white people aren't rich. Most of the white people I know are poorer than I am in both income and wealth and that has always been the case my whole life.
Should the salaries of low paying jobs increased twice as much and keep the blacks and Hispanics on their current jobs -OR- bring more blacks and Hispanics to high paying administrative jobs regardless of whatever qualifications they have - OR - leave it as it - which may not be a perfect but to a great extent, it's open to all - YOU EXCEL in academics, develop technical and/or administrative skills, work towards building a career and try for high paying jobs regardless of your skin color?
Put Asians in that graph and see what I am talking about?
The solution is basically for blacks to do what our grandmothers and grandfathers always tell us to do - you have to be 3 times better and have 3 times as much wealth as the average white person.
This was sage advice from my great grandmother and she was right. For us to even be equal to the average white person, we have to be 3 times better.
Also, careers have nothing to do with wealth. See above. Will also note that educational achievement for blacks has grown substantially over the past 30 years and even Asians and specific African immigrants with their superior educations do not get better job opportunities in regards to executive level and senior management positions versus white Americans.
"Who you know" i.e. one's network is much more important in income and career opportunities than your qualifications. Average white people have a wider network of people in higher positions who will put in a good word for them versus the average black person or hispanic or Asian.
Will also note that Asian Americans have the fastest growing poverty rates in America and not all Asian Americans are the same. Specific ethnic groups of Asian Americans have worse educational, wealth, and career statistics than black Americans.
How can anyone have any respect at all for public education, given the results? Even the highest scoring racial/ethnic demographic doesn't even break a 50% proficiency rate.
And Blacks? Only 7% of all 12th grade Blacks are proficient in Math, and 16% in Reading? And anyone wonders why there's such extreme income and wealth gaps?
Come on... /SMH
"Proficient" is just the name they have given to the highest scoring group on the tests. Outside of Lake Wobegon, not all the children are above average.
But I thought Obama was going to fix all of this when first elected and when re-elected? You mean he didn't?
Obama never focused on institutional racism but rather he encouraged an end to personal racism.
Institutional racism is worse in some ways because it keeps populations economically dis-empower.
I went through plenty of personal racism in Catholic high school at a mainly white high school, and a lot more of it in the US Marine Corps. But I encountered little to no institutional racism in either. In other words those institutions did not work to hold me back even though some individuals and some of my peers openly expressed their racism to me.
yup, shows that institutional racism, well- it does really still exist.
Despite what all the naysayers would have you believe on this forum with all their mockery and ridicule of SJW-ers...
(or maybe its like that guy on the radio was saying yesterday- that he is ok with white privilege, and wants his kids to have it too-
at least he's being honest)...
First, this statistic is too broad. The term "Hispanic" is too broad to be meaningful, as is the term "White". On these facts alone, the conversation is meaningless.
However, to ignore these facts for a moment:
How so? Can you point to a single other Black community (omitting Hispanic because it is too broad of a term to be meaningful in this conversation) in the world that matches the quality / wealth / function of white communities? If not, then how can you claim that lower Black prosperity in the U.S. is due to racism?
There are group IQ differences between the groups in question, just as there are between "whites" and Asians, Jews, etc. There are also differences in crime rates. These IQ differences, and relative group propensity toward crime, largely account for prosperity differences between groups.
Moreover, the theory that prosperity differences are due to institutional racism would also imply that, due to their increased prosperity over whites, that Asians and Jews would either be favored more by whites than whites favor themselves or that, somehow, Asians and Jews are able to effect racism against whites to the point that they are kept to a lower degree of prosperity.
So, which is more likely? That group differences exist that determine prosperity, or that Jews and Asians keep Whites down?
Assigning "racism" to prosperity differences ignores a host of other factors, and is in fact racist against whites.
When they stop your anti-white hate and rent seeking, perhaps the minority groups in question will realize that they enjoy an unprecedented and fragile opportunity to live among groups who support them with their institutions and taxes. The result is better prosperity than they would achieve on their own. Attacking those prosperous groups is biting the hand that feeds, and that hand is getting tired of being bitten.
There goes the neighborhood. When a neighborhood gets revitalized, they biotch because values/taxes increase. You cannot win. Enough of the stupid "race" threads.
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