The racial wealth gap explained

[Cellblock2429]

I've tried many times to get this across to a certain segment of the board with very limited success. Please watch the short video and tell me if you see the problem or if you think it's wrong.

If you think it's incorrect explain why.

/——/ Let’s see how many descendants of today’s Black rappers and athletes who are worth millions leave anything to their kids.

 

[Winston]

I mean over two hundred years of the wealth that was that land passed down, from one generation to the next, without any taxes paid on capital gains because of the step-up.

Over 200 years, and how many descendants?

You've discovered why black people are on welfare and don't have any assets, it was you.

Yes, there is some responsibility there. But an inferior public education system only makes things worse. Yet at it's core, racial wealth inequality continues to perpetuate because of an inequitable tax system and insufficient social insurance.

 

[Winston]

/——/ Let’s see how many descendants of today’s Black rappers and athletes who are worth millions leave anything to their kids.

Rumors have circulated that Michael Jordan, at 63, recently signed his will, allegedly distributing his $3.8 billion net worth among his five children, though not equally. Jeffrey Jordan is rumored to receive the largest share, around $1.2 billion, followed by Marcus with $900 million, Jasmine with $700 million, and twin daughters Victoria and Isabel each with $500 million in a protected trust.

Google Search

 

[Crepitus]

The difficulties experienced by blacks has one main cause. 73% out of wedlock births and no father in the family. This is the foundation of poverty crime and adverse childhood experiences.

It takes two parents and incomes to raise healthy well developed children into adults. Thats been proven by developmental psychology and data that ties high crime rates with blacks and single mothers.

YOu're backwards. poverty causes it, not the other way around.

 

[Crepitus]

Yeah well, life is not fair and cherry-picking the worst-case scenario to put up against the cherry-picked best-case scenario, is just a bunch of cherry-picking.

As far as what it means to us today, well Aesop took care of that about 2600 years ago in the fable about the Wolf and the Lamb.

That's not what happened in that video.

Try again.

 

[Crepitus]

/——/ Let’s see how many descendants of today’s Black rappers and athletes who are worth millions leave anything to their kids.

Part of this is growing up being educated in how to manage money.

Difficult to do it your family doesn't know how to teach you.

 

[Bitterhook]

That's not what happened in that video.

Try again.

Yes it is, and saying it isn't doesn't change that, nor does it require me to try again.

 

[Hafar1014]

YOu're backwards. poverty causes it, not the other way around.

Single mothers have one income when not on welfare that causes poverty. Assuming they are even working. Poverty normal in the black culture after decades of welfare

 

[Crepitus]

Single mothers have one income when not on welfare that causes poverty. Assuming they are even working. Poverty normal in the black culture after decades of welfare

Way to ignore the whole point.

 

[Bitterhook]

Part of this is growing up being educated in how to manage money.

Difficult to do it your family doesn't know how to teach you.

It's difficult to do a lot things without learning.
Education is available, learning take efforts, it is achievable and there are no excuses.

If you want to blame culture for the wealth gap, that could play some part, as well as we don't all start in a box with our entire life planned out for us.

Augustus Jackson was black, one of the richest men in Philadelphia, and died before the Civil War.

 

[Hafar1014]

Way to ignore the whole point.

Youre wrong single mothers cause poverty
Single-mother households are heavily associated with poverty, with a 2021 poverty rate over 30% compared to 9.5% for two-parent homes. This is driven by structural factors like lower average education, limited job opportunities, high childcare costs, and systemic, low-wage employment, rather than the mother’s action alone.
Office of Juvenile Justice and Delinquency Prevention (.gov) +3
Key findings regarding single mothers and poverty:

• High Poverty Risk: Children in single-mother families are over five times more likely to live in poverty than those in two-parent households.
• Economic Disadvantage: Roughly 30% of single-mother families live below the poverty line. In 2020, 23% of these households were in poverty, compared to 4.8% of married-couple households.
• Root Causes: Factors contributing to this include limited education, lack of secure, high-paying jobs, and high costs of childcare.
• Food Insecurity: Single-mother households are more than three times as likely to experience food insecurity as married-couple households.
• Employment Challenges: While most single moms work, they are more likely to work in low-wage, part-time jobs with few benefits.
• Systemic Factors: The high poverty rate is partly due to systemic, societal, and policy-related factors, including inadequate social support compared to other high-income nations.
  National Partnership for Women & Families +5

Note: The data indicates that single motherhood is a strong risk factor for poverty, but it is not the sole cause, as various structural and economic factors are involved.

• Moms' Equal Pay Day Spotlight: Single Mothers, Poverty, and the ...
  Aug 15, 2023 — How to Solve the Wage Gap. Ultimately, the wage gap is just one of the many factors that explain single mothers' exceptionally hig...
  
  National Partnership for Women & Families
  
  
  
  
• Single Mothers & Self-Reliance - BYU Marriott
  Single-mother families are five times more likely to live in poverty than two-parent families. Why do single-mothers families stru...
  
  BYU Marriott School of Business
  
  
  
  
• Sidelined and Struggling: The Harsh Reality of Food Insecurity for ...
  Single Mother Households Are Disproportionately Food Insecure. In 2022, The United States Department of Agriculture (USDA) reporte...
  
  Move For Hunger
  
  
  

Show all

 

[IM2]

Single mothers have one income when not on welfare that causes poverty. Assuming they are even working. Poverty normal in the black culture after decades of welfare

This is why whites in the lineage of evil need to quit running their mouths about black families or black culture. Whites have received welfare in its variouss form sinc 1910. Blacks were excluded until the 1960's. However:

“The median white single parent has 2.2 times more wealth than the median black two-parent household and 1.9 times more wealth than the median Latino two-parent household.”

The Asset Value of Whiteness: Understanding the Racial Wealth Gap | Demos

No metric more powerfully captures the persistence and growth of economic inequality along racial and ethnic lines than the racial wealth gap.

www.demos.org

pg. 10

 

[IM2]

Youre wrong single mothers cause poverty
Single-mother households are heavily associated with poverty, with a 2021 poverty rate over 30% compared to 9.5% for two-parent homes. This is driven by structural factors like lower average education, limited job opportunities, high childcare costs, and systemic, low-wage employment, rather than the mother’s action alone.
Office of Juvenile Justice and Delinquency Prevention (.gov) +3
Key findings regarding single mothers and poverty:

• High Poverty Risk: Children in single-mother families are over five times more likely to live in poverty than those in two-parent households.
• Economic Disadvantage: Roughly 30% of single-mother families live below the poverty line. In 2020, 23% of these households were in poverty, compared to 4.8% of married-couple households.
• Root Causes: Factors contributing to this include limited education, lack of secure, high-paying jobs, and high costs of childcare.
• Food Insecurity: Single-mother households are more than three times as likely to experience food insecurity as married-couple households.
• Employment Challenges: While most single moms work, they are more likely to work in low-wage, part-time jobs with few benefits.
• Systemic Factors: The high poverty rate is partly due to systemic, societal, and policy-related factors, including inadequate social support compared to other high-income nations.
  National Partnership for Women & Families +5

Note: The data indicates that single motherhood is a strong risk factor for poverty, but it is not the sole cause, as various structural and economic factors are involved.

• Moms' Equal Pay Day Spotlight: Single Mothers, Poverty, and the ...
  Aug 15, 2023 — How to Solve the Wage Gap. Ultimately, the wage gap is just one of the many factors that explain single mothers' exceptionally hig...
  
  National Partnership for Women & Families
  
  
  
  
• Single Mothers & Self-Reliance - BYU Marriott
  Single-mother families are five times more likely to live in poverty than two-parent families. Why do single-mothers families stru...
  
  BYU Marriott School of Business
  
  
  
  
• Sidelined and Struggling: The Harsh Reality of Food Insecurity for ...
  Single Mother Households Are Disproportionately Food Insecure. In 2022, The United States Department of Agriculture (USDA) reporte...
  
  Move For Hunger
  
  

Show all

Wrong.

 

[Bitterhook]

This is why whites in the lineage of evil need to quit running their mouths about black families or black culture. Whites have received welfare in its variouss form sinc 1910. Blacks were excluded until the 1960's. However:

“The median white single parent has 2.2 times more wealth than the median black two-parent household and 1.9 times more wealth than the median Latino two-parent household.”

The Asset Value of Whiteness: Understanding the Racial Wealth Gap | Demos

No metric more powerfully captures the persistence and growth of economic inequality along racial and ethnic lines than the racial wealth gap.

www.demos.org

pg. 10

You should take that to your Representatives in Congress if you think it worth the effort.
Maybe they can pass some more foolish legislation regarding white people running their mouths.

Other than that, as already mentioned, Aesop took care of the rest about 2600 years ago in the fable about the Wolf and the Lamb.

 

[Hafar1014]

Wrong.

So how many baby mommas you got

 

[Hafar1014]

This is why whites in the lineage of evil need to quit running their mouths about black families or black culture. Whites have received welfare in its variouss form sinc 1910. Blacks were excluded until the 1960's. However:

“The median white single parent has 2.2 times more wealth than the median black two-parent household and 1.9 times more wealth than the median Latino two-parent household.”

The Asset Value of Whiteness: Understanding the Racial Wealth Gap | Demos

No metric more powerfully captures the persistence and growth of economic inequality along racial and ethnic lines than the racial wealth gap.

www.demos.org

pg. 10

Thats because 73% of black women are single mothers far more then any other culture.

 

[Woodznutz]

How much did the average white person inherit in the 19th century? In the 20th century?

My brother, sister, and I paid for our father's funeral. He left nothing.

 

[Woodznutz]

The difficulties experienced by blacks has one main cause. 73% out of wedlock births and no father in the family. This is the foundation of poverty crime and adverse childhood experiences.

It takes two parents and incomes to raise healthy well developed children into adults. Thats been proven by developmental psychology and data that ties high crime rates with blacks and single mothers.

Mostly true, and even if a single black mother raises her children the right way that's no guarantee of generational wealth. Her kids will likely get into college with gov't help and graduate with loads of debt.

 

[Winston]

Mostly true, and even if a single black mother raises her children the right way that's no guarantee of generational wealth. Her kids will likely get into college with gov't help and graduate with loads of debt.

Single black mother, kid in college, and she has been living below the poverty level? It just don't happen. I mean it is rare. But statistically speaking the chance of her child even attending college is pretty small, and graduating, it is in the single digit percentage rate.

I mean this thread is about racial wealth inequality and generational wealth. You know why student loans were created? So the college fund, that the parents had saved, could be used to invest in the stock market, and they could borrow the money and pay a lower interest rate than the return they got from the market. That is exactly what my father did. Those student loans didn't make college more accessible to the poor, it made it even less accessible.

 

[Woodznutz]

Single black mother, kid in college, and she has been living below the poverty level? It just don't happen. I mean it is rare. But statistically speaking the chance of her child even attending college is pretty small, and graduating, it is in the single digit percentage rate.

I mean this thread is about racial wealth inequality and generational wealth. You know why student loans were created? So the college fund, that the parents had saved, could be used to invest in the stock market, and they could borrow the money and pay a lower interest rate than the return they got from the market. That is exactly what my father did. Those student loans didn't make college more accessible to the poor, it made it even less accessible.

Some parents may have taken advantage of the student loan program and found other uses for their money, but the program greatly increased accessibility of low-income kids to go to college.