..Wealth Gap Among Races Has Widened Since Recession

[Spoonman]

So much for democrats being there for the poor and minorities. only in words, only on the campaign trail

Wealth Gap Among Races Has Widened Since Recession - Yahoo! Finance

..Wealth Gap Among Races Has Widened Since Recession
By ANNIE LOWREY | New York Times – 22 hours ago....Email0
Share0Print.......Yahoo! Finance/Getty Images -

....
WASHINGTON — Millions of Americans suffered a loss of wealth during the recession and the sluggish recovery that followed. But the last half-decade has proved far worse for black and Hispanic families than for white families, starkly widening the already large gulf in wealth between non-Hispanic white Americans and most minority groups, according to a new study from the Urban Institute.

“It was already dismal,” Darrick Hamilton, a professor at the New School in New York, said of the wealth gap between black and white households. “It got even worse.”

Given the dynamics of the housing recovery and the rebound in the stock market, the wealth gap might still be growing, experts said, further dimming the prospects for economic advancement for current and future generations of Americans from minority groups.

 

[Circe]

Well, you can't fix stupid. There it is.

 

[LeftofLeft]

More Americans are on some form of Government welfare. The honest conversation to have is that a large number of minorities are on Government welfare. Is there any wonder for the wealth delta?

 

[ClosedCaption]

So much for democrats being there for the poor and minorities. only in words, only on the campaign trail

Wealth Gap Among Races Has Widened Since Recession - Yahoo! Finance

..Wealth Gap Among Races Has Widened Since Recession
By ANNIE LOWREY | New York Times – 22 hours ago....Email0
Share0Print.......Yahoo! Finance/Getty Images -

....
WASHINGTON — Millions of Americans suffered a loss of wealth during the recession and the sluggish recovery that followed. But the last half-decade has proved far worse for black and Hispanic families than for white families, starkly widening the already large gulf in wealth between non-Hispanic white Americans and most minority groups, according to a new study from the Urban Institute.

“It was already dismal,” Darrick Hamilton, a professor at the New School in New York, said of the wealth gap between black and white households. “It got even worse.”

Given the dynamics of the housing recovery and the rebound in the stock market, the wealth gap might still be growing, experts said, further dimming the prospects for economic advancement for current and future generations of Americans from minority groups.

And you say this is the Dems fault? I agree

You say this is the Repubs fault? I agree

Whats the solution? btw only Repubs say that the wealth gap is not a concern or a problem. Dems don't say it but clearly they are not doing anything to fix it either

 

[Staidhup]

How does a government that restricts and punishes those that create jobs ever have a chance at narrowing the gap? One must first have the opportunity in place to provide upward mobility. This administration has but three goals, expansion of government, expansion of government control, and distruction of the free market.

 

[Circe]

In bad times, the stupider get poorer.

Ummmm, is this a new phenomenon?

I'm guessing not.

 

[editec]

I am going to tell you something that may seem preposterously obvious at first, but give it a minute to sink in and bear in mind the KIND of society we have and what it takes to make money in most cases.

Ready?

The number one cause of poverty in this nation is that so many people have very little money.

 

[Oldstyle]

I'm amused by people who are surprised that the rich get richer in a bad economy.

The fact of the matter is that in an economic downturn, the wealthy have increased opportunities to make money because they have capital to buy things like depressed housing. Down here in sunny Florida, investors have been gobbling up foreclosed homes at bargain rates. They'll make a fortune when the economy finally does come back. Poor people can't do that. They don't have capital to invest.

 

[squeeze berry]

I am going to tell you something that may seem preposterously obvious at first, but give it a minute to sink in and bear in mind the KIND of society we have and what it takes to make money in most cases.

Ready?

The number one cause of poverty in this nation is that so many people have very little money.

define poverty please.

your definition and mine may be quite different.

 

[Erand7899]

So much for democrats being there for the poor and minorities. only in words, only on the campaign trail

Wealth Gap Among Races Has Widened Since Recession - Yahoo! Finance

..Wealth Gap Among Races Has Widened Since Recession
By ANNIE LOWREY | New York Times – 22 hours ago....Email0
Share0Print.......Yahoo! Finance/Getty Images -

....
WASHINGTON — Millions of Americans suffered a loss of wealth during the recession and the sluggish recovery that followed. But the last half-decade has proved far worse for black and Hispanic families than for white families, starkly widening the already large gulf in wealth between non-Hispanic white Americans and most minority groups, according to a new study from the Urban Institute.

“It was already dismal,” Darrick Hamilton, a professor at the New School in New York, said of the wealth gap between black and white households. “It got even worse.”

Given the dynamics of the housing recovery and the rebound in the stock market, the wealth gap might still be growing, experts said, further dimming the prospects for economic advancement for current and future generations of Americans from minority groups.

And you say this is the Dems fault? I agree

You say this is the Repubs fault? I agree

Whats the solution? btw only Repubs say that the wealth gap is not a concern or a problem. Dems don't say it but clearly they are not doing anything to fix it either

That is a different wealth gap, the one between rich and not so rich, that is of no concern. Wealth differences among ethnic groups is of some concern. However, the reasons are not difficult to discern. The root cause is over regulation, and the Obama administration is writing regulations like there is no tomorrow.

Over regulation makes it extremely difficult and expensive to establish and/or grow new businesses, and the inability to establish and/or grow new businesses impacts all ehtnic groups, but especially ethnic groups that are on the cusp of entrepreneurship.

Larger, well financed, and well established companies can deal with over regulation much more easily than a shirttail startup.

 

[ScienceRocks]

Who's fault is this? The non-whites wish to be the victim so they're falling further behind.

Why the hell do they listen to the idiots(Marxist) telling them to rely completely on government is their own idiocy.

 

[Defiant1]

If the underground economy was factored in the gap would be considerably less.

 

[boedicca]

It would be interesting to do this analysis with a calculation for the amount of capital which would be required in the private sector to fund the entitlement annuity being vacuumed up by so many government dependents (including government employees).

For example, Obama has recently announced that retirement accounts should be capped at $3M, or $205K of income per year.

His guaranteed pension, which is pegged to the salary of the highest paid Cabinet Official in the future, would require an estimated $8M of capital.

Such an analysis would yield a much different picture: entitlement holders don't need wealth because they are parasite on the taxpayer body.

 

[Circe]

I am going to tell you something that may seem preposterously obvious at first, but give it a minute to sink in and bear in mind the KIND of society we have and what it takes to make money in most cases.

Ready?

The number one cause of poverty in this nation is that so many people have very little money.

define poverty please.

your definition and mine may be quite different.

It's a whack at the Federal Reserve.

Besides, I don't believe there is much real poverty ----- I hear people whining and crying and lining up for new iPads. They think they are poor because they've maxed out their credit cards. I am SO not sympathetic.

There is no poverty here. There is incompetence, but no real African/Asian/Arab-type poverty.

 

[Spoonman]

in the 80's under Reagan the attitude of upward mobility was prevelant. success was a good thing. people strived to make money, and lots of it. yuppies were on the rise. but that was the mentality of the period. it was good to work for a corporation, it was good to have money, and it was all viewed in a positive light. even the hippies of the 70's were experiencing the taste of success and changing their attitudes. it was all good. but today, liberals have changed the conversation. that's all looked at as a bad thing. it's a crime to be rich and successful. you are a 1%'r, a corproate whore. the whole attitude has changed. it's no longer how can i improve myself, it's what are you going to do for me? let me see what i am entitled to. the government needs to do more for me.

attitude and outlook are everything. look where we were then and look where we are now

 

[Freemason9]

More Americans are on some form of Government welfare. The honest conversation to have is that a large number of minorities are on Government welfare. Is there any wonder for the wealth delta?

Do farmers count as a minority?

 

[Dragonlady]

Over regulation makes it extremely difficult and expensive to establish and/or grow new businesses, and the inability to establish and/or grow new businesses impacts all ehtnic groups, but especially ethnic groups that are on the cusp of entrepreneurship.

Bullshit. The US job market is the least regulated among the G8 countries, none of which have the wealth gaps that the US has, but all of which have higher minimum wages, universal health care, mandated worker protections and stronger unions

The wealth gap in the US exists precisely because of outsourcing, weak labor laws, weak unions, and a tax code which favours the wealthy. The Republicans have resisted every effort to pass worker protection legislation or shore up union protections. They're the ones who put the tax code into place which has lead to this transfer of wealth, and they're the ones who block every effort to change the status quo.

 

[Spoonman]

More Americans are on some form of Government welfare. The honest conversation to have is that a large number of minorities are on Government welfare. Is there any wonder for the wealth delta?

Do farmers count as a minority?

today? yes, unless they are chinese growers and we are importing their goods

 

[boedicca]

Over regulation makes it extremely difficult and expensive to establish and/or grow new businesses, and the inability to establish and/or grow new businesses impacts all ehtnic groups, but especially ethnic groups that are on the cusp of entrepreneurship.

Bullshit. The US job market is the least regulated among the G8 countries, none of which have the wealth gaps that the US has, but all of which have higher minimum wages, universal health care, mandated worker protections and stronger unions

The wealth gap in the US exists precisely because of outsourcing, weak labor laws, weak unions, and a tax code which favours the wealthy. The Republicans have resisted every effort to pass worker protection legislation or shore up union protections. They're the ones who put the tax code into place which has lead to this transfer of wealth, and they're the ones who block every effort to change the status quo.

Economic illiteracy runs deep it does in this post...yessssssss^^^^^

 

[Spoonman]

Over regulation makes it extremely difficult and expensive to establish and/or grow new businesses, and the inability to establish and/or grow new businesses impacts all ehtnic groups, but especially ethnic groups that are on the cusp of entrepreneurship.

Bullshit. The US job market is the least regulated among the G8 countries, none of which have the wealth gaps that the US has, but all of which have higher minimum wages, universal health care, mandated worker protections and stronger unions

The wealth gap in the US exists precisely because of outsourcing, weak labor laws, weak unions, and a tax code which favours the wealthy. The Republicans have resisted every effort to pass worker protection legislation or shore up union protections. They're the ones who put the tax code into place which has lead to this transfer of wealth, and they're the ones who block every effort to change the status quo.

of course none of that was passed or even proposed during obamas first two years when he had the super majority and didn't need a single republican vote