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I've seen many articles about that - home ownership and yes, I agree. Also - wealth is often handed down from generation to generation so .. we did get a little head start on that.
Now how to fix it ~ not up to me.
I had no wealth handed to me. NONE. I did everything by myself. Anyone can do it, it's all about motivation. That's what's lacking.
So according to Wealth Inequality by Race | Demos ......, if you are white and have a net worth of over 1 million dollars, that would put you in the top 10% of all white families. If you have a net worth of 200k, that would put in in the top 40%. These percentages represent millions, upon millions of white people. People who are celebrating life in stable communities. If you are black and have a net worth that is simply 100k, that automatically puts you in the top 20% of all black families. Do you understand the impact that has on our culture? These numbers are bananas!
I don't see how black people can survive from those numbers. Especially in a market that is still very much discriminatory, and it would be hard for anyone to gain wealth period. Shoot I've mentioned it would be hard for white people to build wealth today, but at least most have some wealth. Most have over 100k. Black people have nothing for the most part, yet we can somehow overcome on our own? Why do we even pay taxes if the government is never expected to do anything for us?
Now I hear the things you mentioned residinghere2007 about encouraging kids to get jobs with high starting incomes. I hear you on 401ks. It's good advice. However that will never solve the problem in bringing stability for the black community as a whole. What you would have is a hand full of black people benefiting, while the rest fall by the wayside for trying.
So on the bold, you believe that the majority of black people are incapable of investing in a 401k or educating themselves for a career with a higher income....
That is a very odd thing to think. For you to believe that we are incapable of doing the above and buying homes in higher rates, IMO means you feel we cannot do anything to help ourselves and need a savior. That attitude IMO is the biggest issue in black America today - the idea that we are inferior to other people and are in need of a savior. If you work together in your community toward a common goal, you can achieve some wealth. Economic lynching is not a thing today for blacks like it was in the past.
And again, wealth is not income. People do not live off the value of their property. Most are still paying for their properties that are giving them the bulk of their wealth.
Ummm no. I see black women rolling up in Escalades with their hair and nails all done up, whipping out an EBT card to pay. They are drug dealers? No, they waste their money on status symbols because in their minds, if they look the part, they should also get all the successes.
This is such a played out scenario lol.
It is funny to me particularly because I am a black woman who drives a nice car. I bet many people think I pay for the expensive services and things I buy with an EBT card just because I'm a black woman. EBT cards are regular debit cards in most places. How can you tell they are an EBT. Also many women get child support deposited on an EBT card since their CS is court ordered and automatically debited by the state. It always reminds me of my aunt, who is an RN and who makes about $85k annually who has an EBT card for her CS from her ex. She drives a Benz. She goes shopping every week and gets facials and her nails/toes done every other week. She used her EBT card to pay because she pays for everything else out of her income. Everything is not what it seems and it seems IMO that many people believe all black women have an EBT for government benefits. I've even been asked to "insert my EBT card" before by clerks when I don't have one.
I had no wealth handed to me. NONE. I did everything by myself. Anyone can do it, it's all about motivation. That's what's lacking.
No....everybody cannot do it...ergo...ANYONE cannot do it. Mathematically impossible. Obama could say.....I became president....anyone can do it. Again, not mathematically possible given 340 million people and presidents serving 4 years. Hence, in 100 years (a lifetime) there would be 25 opportunities to be president.....and 340 million people. No....everyone cannot do it if they just try.
The presidency is an extreme example but there is a finite limit of GOOD opportunity. Good opportunity and income is not infinitely available.....if a person just works hard for it. Most people get high income because they know how to do something that not a lot of people know how to do or are willing to do. If you increase the people who know how to do stuff that makes good money.....then it will not pay good money any more, because you can easily find people to do it.
I had no wealth handed to me. NONE. I did everything by myself. Anyone can do it, it's all about motivation. That's what's lacking.
ABSOLUTELY! People would rather see themselves as victims of this or that. There are families in America who through circumstance and emergency situations need and deserve help. BUT are way more who are generational welfare families scamming the system for 3 generations or more. I've seen it everywhere we live. That needs to stop.
So you are saying that you are lazy and produce poor quality at work?
Secondly, I agree that many of the solutions noted might fail, however, that is because they are band aid solutions. The only true remedy would be the government instituting a massive "Marshal Plan" aimed, at blacks. Again, that is never going to happen.....but that is the solution.
The black and Hispanics are the lazy ones at work. If I could, I would fire them all. The good workers are the older Asians and the one white male in his forties. I have only been a union worker for five years. My work ethic was developed from working for my parents and other jobs.
When one is handed a work where they can't be fired from, they do indeed become terrible workers. And at this point, the US doesn't owe the black community anything except a ticket back to Africa.
The black and Hispanics are the lazy ones at work. If I could, I would fire them all. The good workers are the older Asians and the one white male in his forties. I have only been a union worker for five years. My work ethic was developed from working for my parents and other jobs.
When one is handed a work where they can't be fired from, they do indeed become terrible workers. And at this point, the US doesn't owe the black community anything except a ticket back to Africa.
Well.....regardless of whether the blacks and Hispanics are lazy at work, the fact that YOU and others are not disproves the argument that unions create lazy and poor quality workers. You seem to be saying, now, that it is not unions that create this propensity, but rather, race and language (blacks and Hispanics).
ABSOLUTELY! People would rather see themselves as victims of this or that. There are families in America who through circumstance and emergency situations need and deserve help. BUT are way more who are generational welfare families scamming the system for 3 generations or more. I've seen it everywhere we live. That needs to stop.
No one every achieved anything of substance ALL ON THEIR OWN!!!! That is one of the biggest lies every told. To hear Donald Trump Tell it.....his success was ALL HIS OWN too....with only a small loan of a million dollars from his father to help him get started....lol
I had no wealth handed to me. NONE. I did everything by myself. Anyone can do it, it's all about motivation. That's what's lacking.
That's cool but this isn't all about you, now is it?
We are talking about a generational trend. Try to stay on topic.
I will readily admit that I benefitted from my parents huge penchant for saving and investing and now my son will benefit as well when I die. Well, actually he's benefitting now. Because instead of taking out huge loans ~ I am able to pay for his college - thanks to money that was left to me.
I had no wealth handed to me. NONE. I did everything by myself. Anyone can do it, it's all about motivation. That's what's lacking.
What did your parents, grandparents and great grandparents do if I might ask?
Did they own a home?
Did you grow up in a safe neighborhood with decent schools?
All of these are contributors to the wealth that someone is able to obtain in their life.
Generational wealth and especially wealth related to housing and where one's home is situated, is VERY important to the outcome of the child and legacy of that family. If your great grandparents were poor and worked their way up, gave your grandparents a better home and educational opportunity, then your parents were able to take advantage of the post WW2 boom and get a nice place in the burbs with great schools, then you have benefitted from their wealth.
My great grandparents were forced to live in the ghetto until around the year I was born. My grandparents also lived in the ghetto until I was a small child. My parents lived in a nicer inner city neighborhood when I was a teen. I went to urban schools that dealt with a lot of poverty, driug use, and gangs. I don't believe that anyone can "make it." I think most can, but when you don't have a decent legacy in your lineage, it is much harder and that tough legacy coupled with the psychological belief that you are "less than" other people that is repeatedly perpetrated by media and stereotypes of yourself as a black person, doesn't help people become motivated to better themselves. Many feel that they cannot do anything, they feel crippled. Both the economic legacy and the idea that they are crippled are a result of the racial oppression that blacks faced.
My generation in my family is the first to really make a decent income and not all of us do. I'm aware that I am much more motivated than many of my cousins and siblings in various ways, but one has to consider that they may have been more motivated had our recent ancestors not been forced to live in dangerous, stalled socio-economic areas. I also dealt a lot with poverty, drugs, gangs, abuse, etc - things that come along with living in the ghetto. Many of these are things that I know I would not have had to endure had my grandparents been allowed to move out of the neighborhood we lived in post WW2 like the Irish and the Polish and the Germans and the Jews were able to do in my area.
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