The racial wealth gap explained

[Cassandro]

False inherited wealth is used often to create a business

What percentage of Americans does this apply to?

 

[IM2]

So how many baby mommas you got

As many as you do white ---.

 

[IM2]

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.

Incorrect. White parents may have done that, but it made my college possible, that and an athletic scholarship.

 

[Cassandro]

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

So poverty causes poverty?

 

[Cassandro]

“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.”

Nice statistical cherry-picking. The median white single parent has zero children out of wedlock and an ex-spouse who has significantly contributed to her wealth.

 

[Hafar1014]

As many as you do white ---.

I got married first and stayed married raised three very successful children.

 

[DGS49]

"Education" is not a thing. To say that someone, "attended college" covers a huge range of experiences, many of which are utterly worthless.

What college? What major (if any)? How many years? Community college, no major, one semester? Ivy league college, Engineering major, left before graduating due to exigent circumstances? Both of them check the "some college" box. They as far apart as imaginable.

Same is true for a college degree. What college, what major, QPA?

When Americans of African ancestry go to college, they rarely merit going to better schools (DEI considerations aside), and even more rarely do they have majors with any academic rigor.

But once they get out into the Real World, nobody is holding them back. Public sector jobs are plentiful, as are jobs with NGO's, foundations, and such, and those employers positively welcome POC's. Big corporations do the same. In fact, most corporations welcome POC's who present well (not a guarantee) and seem competent.

Among the working class, small businesses and contractors are frantic to get people who are even willing to show up and do a day's work. They don't care about race or even education in most cases. Many don't care if you can speak English.

But single motherhood is a huge deal, and denying it serves no valid purpose.

 

[IM2]

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

Wrong. White racists like you are arguing a position that was debunked shortly after Moynihan first made it. Since then,, loads of studies show that your position is bunk. Whites have tried making statements about the black culture since whites first believed that black people needed to be slaves in order to find the truth of the "Christian" god. They have been wrong now for over 400 years. You carry on that tradition of being white, totally wrong, but refusing to drop your debunked bs argument.

ALL RISE!

Todays lesson: THE RACIST DUMB, IGNORANT DEBUNKED WHITE CLAIM ABOUT BLACK FAMILY AND THE WEALTH GAP.

Let us begin with the number 1 reason that families split up.

"About 50 percent of marriages in the United States end in divorce or separation."​

Top 10 Marriage Failure Reasons | Divorce.com

Top 10 Reasons Marriages Fail explained in plain language, with practical tips, examples, and checklists from Divorce.com to help you move forward with con

divorce.com

So you need to concern yourself with issues in white families. But since you ran your mouth:

Divorce Statistics: Top 10 Marriage Failure Reasons

1. Financial Burdens or Undiscussed Debts​

Discussing finances with your partner can always cause friction in a marriage, especially if one party hasn't been candid about their financial situation.

Sometimes, married couples contemplate getting a divorce when there's been a lack of open communication about money problems in the first place.

It's no secret that many people struggle with financial issues such as debt, student loans, spending, budgets, and bills, but how couples deal with these issues is the true test of their love. It also may not be easy sharing financial struggles with a loved one.

Still, one mustn't wait too long to have a serious discussion with their spouse about money problems that could severely impact the marriage. Student loans or credit card debt could cause feelings of resentment if not addressed honestly, especially if a married couple is looking to buy a home together.

If you want to speak with your spouse about financial issues but don’t know how, maybe it’s time to seek advice from a counselor or financial advisor.

Top 10 Marriage Failure Reasons | Divorce.com

Top 10 Reasons Marriages Fail explained in plain language, with practical tips, examples, and checklists from Divorce.com to help you move forward with con

divorce.com

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 “uncontrolled pay gap” relative to white men and that on average, black men earned eighty-seven cents for every dollar a white man earned. The Payscale study showed that black men are paid less compared to all other men. Even when black and white men had the same job, experience, education, and worked at the same geographic location, the study shows a controlled pay gap whereby black men earned less. Executive-level black men still earn less than white men at that same level. At that level, black men are paid ninety-seven cents for every dollar a white man is paid but face the same executive responsibilities and are expected to produce the same or superior results.

Stephen Miller, Black Workers Still Earn Less than Their White Counterparts, www.shrm.org/resourcesandtools/hr-topics/ compensation/pages/racial-wage-gaps-persistence-poses-challenge.aspx

The “conservative” judgment of the single parent, unwed mother, and fatherless home because of irresponsible black men has problems. The National Women’s Law Center also showed that black women are paid less than other women. Black women are paid sixty-three 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.” Black women in high-wage occupations earn sixty-four cents for every dollar a white man earns. On average, that is 40,000 dollars per year less than white men in those same occupations. This renders the unwed mother, fatherless home opinion meritless relative to income and poverty because a black couple can get married, daddy lives at home, and the family still makes less than whites. This is not about lack of education. Nor is it about the field of study.

Brandie Temple and Jasmine Tucker, Equal Pay for Black Women, https://nwlc.org/resource/equal-pay-for-black-women/,

“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

Kokoyachuck found that blacks and Hispanics with college degrees were paid less than whites and Asians with comparable education. His study showed that blacks and Hispanics who graduated in S.T.E.M majors earned less than whites and Asians with degrees in those same majors.

“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, Education Alone Can’t Close The Racial Wage Gap, https://www.mediapost.com/publications/article/ 348809/education-alone-cant-close-the-racial-wage-gap.html

So, let’s review. In low-wage paying occupations, Black men are paid 87 cents for every dollar a white man makes, and black women sixty-three cents. In high-paying occupations, black men earn ninety-seven cents for every dollar a white man makes, and black women 64 cents. A black married couple will earn less than a white couple even when all other factors are the same.

Blacks’ economic difficulties have nothing to do with a man sitting in a house with his wife and children.

​

 

[IM2]

"Education" is not a thing. To say that someone, "attended college" covers a huge range of experiences, many of which are utterly worthless.

What college? What major (if any)? How many years? Community college, no major, one semester? Ivy league college, Engineering major, left before graduating due to exigent circumstances? Both of them check the "some college" box. They as far apart as imaginable.

Same is true for a college degree. What college, what major, QPA?

When Americans of African ancestry go to college, they rarely merit going to better schools (DEI considerations aside), and even more rarely do they have majors with any academic rigor.

But once they get out into the Real World, nobody is holding them back. Public sector jobs are plentiful, as are jobs with NGO's, foundations, and such, and those employers positively welcome POC's. Big corporations do the same. In fact, most corporations welcome POC's who present well (not a guarantee) and seem competent.

Among the working class, small businesses and contractors are frantic to get people who are even willing to show up and do a day's work. They don't care about race or even education in most cases. Many don't care if you can speak English.

But single motherhood is a huge deal, and denying it serves no valid purpose.

DEI includes whites. Stop being white, thinking you can speak about things affecting us. You are another example of the totally wrong white man thinking you can speak to our lived experience.

 

[Cellblock2429]

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

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

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

I got married first and stayed married raised three very successful children.

/----/ Me too.

 

[Toddsterpatriot]

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.

Poor black people don't pay taxes. Is that why they're poor?

 

[Toddsterpatriot]

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.

Math is racist, just ask IM2.

 

[Toddsterpatriot]

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

Now post the study that showed blacks have an average of $15 million in household wealth!!!

DURR

 

[Toddsterpatriot]

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.

Obama took over the student loan program and made college less affordable?

That's awful!

 

[Hafar1014]

Poor black people don't pay taxes. Is that why they're poor?

They pay no income tax but pay all excise and sales taxes

 

[Hafar1014]

What white person beneftted from DEI.

 

[Toddsterpatriot]

They pay no income tax but pay all excise and sales taxes

Not all of them.

 

[Cassandro]

DEI includes whites. Stop being white, thinking you can speak about things affecting us. You are another example of the totally wrong white man thinking you can speak to our lived experience.

This type of jibber jabber may sell in your neighborhood, but it is intellectually vacuous.

 

[Crepitus]

So poverty causes poverty?

Well yes, but that's not what I said.

 

[fncceo]

The racial wealth gap explained​

Yeah! How did Asians get so rich?!