I Don't Think You Guys Understand the Real Cause of the Deficit

IM2

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“The persistent racial wealth gap in the United States is a burden on black Americans as well as the overall economy.” - The economic impact of closing the racial wealth gap, McKinsey and Company

"The racial wealth gap being closed will entail a 4 to 6 percent increase in the US GDP by 2028, McKinsey reports. This is an increase of $2,900 to $4,300 in GDP per capita. We see that closing this gap will not only promote equity, it will also prevent this gap from inhibiting the economic growth of the US."- The economic impact of closing the racial wealth gap, McKinsey and Company

In 2011, DEMOS did a study named “The Racial Wealth Gap, Why Policy Matters,” which discussed the racial wealth gap, its problems, and solutions and outcomes if the gap did not exist. DEMOS determined that policy decisions primarily drove the racial wealth gap in this study.

“The U.S. racial wealth gap is substantial and is driven by public policy decisions. According to our analysis of the SIPP data, in 2011 the median white household had $111,146 in wealth holdings, compared to just $7,113 for the median Black household and $8,348 for the median Latino household. From the continuing impact of redlining on American homeownership to the retreat from desegregation in public education, public policy has shaped these disparities, leaving them impossible to overcome without racially-aware policy change.” -DEMOS

On October 24, 2013, the Kellogg Foundation and Altarum Institute sent out a press release about a report they had done titled, “The Business Case for Racial Equity.” This was a study done by both organizations, using information studied and assessed from the Center for American Progress, National Urban League Policy Institute, Joint Center for Political and Economic Studies and the U.S. Department of Justice.

“Striving for racial equity – a world where race is no longer a factor in the distribution of opportunity – is a matter of social justice. But moving toward racial equity can generate significant economic returns as well. When people face barriers to achieving their full potential, the loss of talent, creativity, energy, and productivity is a burden not only for those disadvantaged, but for communities, businesses, governments, and the economy as a whole. Initial research on the magnitude of this burden in the United States (U.S.), as highlighted in this brief, reveals impacts in the trillions of dollars in lost earnings, avoidable public expenditures, and lost economic output.”
-
The Kellogg Foundation and Altarum Institute

On September 3, 2019, Brentin Mock, wrote an article on the Bloomberg.com CityLab website titled, “White Americans’ Hold on Wealth Is Old, Deep, and Nearly Unshakeable” based on a study done by McKinsey and Company called “The economic impact of closing the racial wealth gap.” In this study McKinsey and Company predicted a bleak future if current race based wealth inequality continues.

“It will end up costing the U.S. economy as much as $1 trillion between now and 2028 for the nation to maintain its longstanding black-white racial wealth gap, according to a report released this month from the global consultancy firm McKinsey & Company. That will be roughly 4 percent of the United States GDP in 2028—just the conservative view, assuming that the wealth growth rates of African Americans will outpace white wealth growth at its current clip of 3 percent to .8 percent annually, said McKinsey.

If the gap widens, however, with white wealth growing at a faster rate than black wealth instead, it could end up costing the U.S. $1.5 trillion or 6 percent of GDP according to the firm.”

Groups like DEMOS, the Kellogg Foundation, Altarum Institute, Pew Research and others have done extensive research on the public policies that created these disparities. As we look at the numbers, we see what has caused our economic problem, and it’s not the loss of jobs by the white working class. The numbers show us that many of our national difficulties do not have to exist. Study after study shows that racism is costing America trillions of dollars. We hear all the rhetoric about debts and deficits by our elected officials. The federal government has basically spent more than what it’s taken in for most of the past 50 years. While we have been continually told over time that our deficit comes from entitlements or programs subsidizing people who don’t want to work, multiple studies show that the damage is self-inflicted. If the deficit is a matter of spending vs. revenue, the fact that racism exists in this country robs the government of the income necessary to stay away from deficits and debt. America has a debt of over 30 trillion dollars. Our debt is due to lost taxable income denied because of racism.

Ani Turner, The Business Case for Racial Equity,
https://altarum.org/sites/default/files/uploaded-publication-files/WKKellogg_Business-Case-Racial-Equity_National-Report_2018.pdf

Brentin Mock, “White Americans’ Hold on Wealth Is Old, Deep, and Nearly Unshakeable,” CITILAB, September 3, 2019,

Dana M Peterson, Catherine L Mann, Closing the Racial Inequality Gaps, The Economic Cost of Black Inequality in the U.S., pg. 4,
Closing the Racial Inequality Gaps


 
A race that, as a whole, has most of its babies born out of wedlock by woman unable to support them is going to have trouble closing the wealth gap.

1. No babies prior to marriage
2. Graduate from high school.
3. Use Pell Grants for vocational school or an A.A. degree,

You’ll go from being poor at age 19 to the middle class by 29.
 
A race that, as a whole, has most of its babies born out of wedlock by woman unable to support them is going to have trouble closing the wealth gap.

1. No babies prior to marriage
2. Graduate from high school.
3. Use Pell Grants for vocational school or an A.A. degree,

You’ll go from being poor at age 19 to the middle class by 29.
Very true. Instead of buying gold chains and weaves blacks should donate to black foundations that help young black men pay for trade school education. The way to the upper-middle class white-collar management class is through the blue-collar manufacturing class.
 
Very true. Instead of buying gold chains and weaves blacks should donate to black foundations that help young black men pay for trade school education. The way to the upper-middle class white-collar management class is through the blue-collar manufacturing class.
Wrong.
 
Lisa, please shut the fuck up with your suggestions. Everything you suggest has been done and is being done. The only difference is that blacks have never received the amount of government assistance whites have, including white jews. This thread is not about your racist ideas. It is about the how racism creates the deficit.

Long before you were born, blacks built sucessful communities only to have them burnt down or destroyed by whites who had ideas. So again, please shut the fuck up unless you are going to post on topic.

You won't debate me one on one but you try hijacking my threads with your racist bullshit. We don't need to focus on trade school educations because blacks are already doing that. White women buy weaves, and both whiite men and women buy jewelry. The tanning indusTry is a multi billion dollar industry and there ain't too many blacks payng for it. But a Lot of poor broke ass whites will. So you and woodnutz need to focus on how white racism is costing this country trlLions annually.
 
Lisa, please shut the fuck up with your suggestions. Everything you suggest has been done and is being done. The only difference is that blacks have never received the amount of government assistance whites have, including white jews. This thread is not about your racist ideas. It is about the how racism creates the deficit.

Long before you were born, blacks built sucessful communities only to have them burnt down or destroyed by whites who had ideas. So again, please shut the fuck up unless you are going to post on topic.

You won't debate me one on one but you try hijacking my threads with your racist bullshit. We don't need to focus on trade school educations because blacks are already doing that. White women buy weaves, and both whiite men and women buy jewelry. The tanning indusTry is a multi billion dollar industry and there ain't too many blacks payng for it. But a Lot of poor broke ass whites will. So you and woodnutz need to focus on how white racism is costing this country trlLions annually.
I'd rather focus on how much black problems, like crime, illegitimacy, sickness, lack of educational achievement etc., is costing the productive economy.

Before you can drain the swamp you gotta deal with the alligators.
 
So we're $34 trillion dollars in debt because white people have more money than black people?

Does anyone else see how ignorant that sounds? :laughing0301:
 
Oh good. Another fake lecture from the abominably ignorant IQ2.

How original. Copy and paste isolated snippets of other peoples’ original works and pretend that he knows fuck all about such matters.
Come on Bluto,
 
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I'd rather focus on how much black problems, like crime, illegitimacy, sickness, lack of educational achievement etc., is costing the productive economy.

Before you can drain the swamp you gotta deal with the alligators.
White racists are the alligators.

You just don't get it do you? All of those problems are created by white racism. But since whites have those same problems in greater numbers.....
 
All Rise!

An example of how white racism costs the economy.

“I can say for sure that happens because I did it. Before retirement, I was an Engineer. For the last 20 years of my career, I was a Manager and Director and I hired hundreds of people. I reviewed well over a thousand resumes for all kinds of positions. Everything from Secretaries to Engineering Managers. Both Salary and Hourly. I always culled out the resumes with Black Ethnic names. Never shortlisted anybody with a Black Ethnic name. Never hired them.”

“Since the Fortune 50 company I worked for had a stupid "affirmative action" hiring policies I never mentioned it to anybody and I always got away with it. A couple of times I was instructed to improve my departmental “diversity" demographics but I always ignored it and never got into any trouble. My stereotype is that anybody with a stupid ghetto Black ethnic name is probably worthless. I could have been wrong a couple of times but I was also probably right 99% of the time.

Glad I did it. I would do it again.”

This is a scenario copied millions of times per day. And whatthis does is create unemplyed peope who end up getting government assistance. So what this raciam does is take a potential productive tax paying citizen and turns them into a tax drawing prson onwelfare or other types of assistance.

Here are more.

Payscale did a two-year study from 2017 to 2019, and this is their conclusion: "we find equal pay for equal work is still not a reality." They studied the earnings of white men and men of color using data from 1.8 million employees. They found that no matter how far they advanced, black men made less than white men with the same qualifications. According to the study, “black men were the only racial/ethnic group not achieving pay parity with white men at some level." The study showed that black men had the most significant pay gap relative to white men and that on average, black men earned 87 cents for every dollar a white man earned.

The National Women’s Law Center also showed that black women are paid less than other women. Black women are paid 63 cents for every dollar paid to white men based on calculations used in the study. Where this impacts black single mothers is this study shows a pay difference of over 20,000 dollars per year. "Black women have to work more than 19 months—until the very last day of July—to make as much as white, non-Hispanic men did in the previous 12-month calendar year."

So then if you are a black married couple on average, you make 75 cents for every dollar a white couple makes. This loss in pay again, creates people who don't earn enough to pay taxes, and/or don't earn enough and get public assistance, once agan drawing out money from government revenues without putting any in. And that's just blacks. We can add hispaics most Asians, Pacific Islanders, Native Americans and women to this list.

And don't start with the excuses. blacks with collegedegrees earn as much as whites with no college.

"Even after completing undergraduate and graduate degrees, black and Hispanic workers earned less than non-Hispanic white workers with the same, or often less, education."
- Roy Eduardo Kokoyachuk, ThinkNow Research

And the field of study has nothing to do with it.

"Even when Blacks and Hispanics go the extra mile and earn professional degrees, their incomes still don’t break six figures. Whites and Asians, however, double their incomes by earning professional degrees, allowing them to make well over $100,000 a year."
-
Roy Eduardo Kokoyachuk, ThinkNow Research

White racists aren't too bright. So we will continue to see ignorant responses or personal attacks by the bigots instead of the recognition that white racism is causing our economy to fail. It is also creating defcits because of lost tax revenue.
 
You're too stupid to post a thread that has any truth to it.

But at least you credited the author with a link this time. :laughing0301:
I posted links idot. And you are an idiot of the highest magnitude.

If you only knew. :laughing0301: :laughing0301: :laughing0301: :laughing0301: :laughing0301: :laughing0301: :laughing0301: :laughing0301: :laughing0301: :laughing0301: :laughing0301:
 
You're too stupid to post a thread that has any truth to it.

But at least you credited the author with a link this time. :laughing0301:
IM2 has been posting that SAME single post from ONE racist for two years now. You’d think of racism were that widespread, he‘d be able to find some new material.
 

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