Zone1 Wealth of Two Nations: The U.S. Racial Wealth Gap, 1860-2020

[Hector12]

Well, I don’t like to use that phrase…..

Because I am a Christian Judeophile I do use the phrase.

 

[IM2]

The black proportion of national wealth has remained basically the same since slavery. Whites on average are born into at least 6 times more wealth than blacks and they are born into what they did not personally produce. On the other hand, blacks are born into deficts they did not create. Since racism caused this, simply not talking about race or being "colorblind" is not going to cure this economic disparity.

 

[DGS49]

Talk of "wealth gap" and "income gap" is nothing more than putting a nice face on ENVY.

If some people are poor and/or wretched, that is a subject worth pursuing...how do "we" create the greatest opportunities for those at the bottom of the pile to improve their lot? EVERYBODY can agree that this is a worthwhile endeavor.

When you talk about GAPS, however, what you are saying is that "some people have too much" income or wealth. According to whom? According to what standard?

Anyone who has even the most superficial understanding of Economics knows that the economy of the U.S. (and most other nations) is not a fixed amount. New wealth is constantly being created, but the GAP philosophy is based on the "fixed pie" view, which is economic nonsense. Just because one person (or a group of people) have a lot of wealth DOES NOT MEAN that there is less wealth (or less income) available for everyone else.

Elon Musk is the world's richest man by most estimates, and yet there is NO ONE who has suffered because of his accumulation of wealth. In fact, he is making tens of thousands of people richer than they would have been otherwise, due to his entrepreneurial ventures.

Name any billionaire who has made other people poorer by their individual activities in accumulating wealth. There may be a few (Geo. Soros), but for the most part, such people are a boon to society, and should be celebrated, not scorned for the sin of being wealthy.

American Black people can accumulate wealth as easily as anyone else. Their CULTURE, however, is the biggest impediment to their success, statistically speaking, and one need go no further than their illegitimacy rate to find the main culprit. Get all the free education you can. Get a job and keep it. Spend your money wisely. Get married and don't have kids until you can afford to raise them properly.

It's no secret.

 

[Lisa558]

Talk of "wealth gap" and "income gap" is nothing more than putting a nice face on ENVY.

If some people are poor and/or wretched, that is a subject worth pursuing...how do "we" create the greatest opportunities for those at the bottom of the pile to improve their lot? EVERYBODY can agree that this is a worthwhile endeavor.

When you talk about GAPS, however, what you are saying is that "some people have too much" income or wealth. According to whom? According to what standard?

Anyone who has even the most superficial understanding of Economics knows that the economy of the U.S. (and most other nations) is not a fixed amount. New wealth is constantly being created, but the GAP philosophy is based on the "fixed pie" view, which is economic nonsense. Just because one person (or a group of people) have a lot of wealth DOES NOT MEAN that there is less wealth (or less income) available for everyone else.

Elon Musk is the world's richest man by most estimates, and yet there is NO ONE who has suffered because of his accumulation of wealth. In fact, he is making tens of thousands of people richer than they would have been otherwise, due to his entrepreneurial ventures.

Name any billionaire who has made other people poorer by their individual activities in accumulating wealth. There may be a few (Geo. Soros), but for the most part, such people are a boon to society, and should be celebrated, not scorned for the sin of being wealthy.

American Black people can accumulate wealth as easily as anyone else. Their CULTURE, however, is the biggest impediment to their success, statistically speaking, and one need go no further than their illegitimacy rate to find the main culprit. Get all the free education you can. Get a job and keep it. Spend your money wisely. Get married and don't have kids until you can afford to raise them properly.

It's no secret.

Shhhh….they call you “waaaacist!!” if you dare suggest that blacks can determine their own outcomes.

 

[westwall]

"After emancipation, proposals to provide former slaves with land so they could survive economically were largely defeated. Thus in 1870, the wealth gap between Black and White Americans was a staggering 23 to 1. That's equivalent to just $4 of wealth for Black Americans for every $100 for White Americans.

Fast forward 150 years and that gap has narrowed to about 6 to 1—and yet, a significant gap remains: average per capita wealth of White Americans was $338,093 in 2019 but only $60,126 for Black Americans."

White supremacists need to shut up about this. Blacks are made poor because of race. Republicans want to keep it that way.

How come the Chinese do so much better than you blacks? They were treated worse than 99% of the slaves were. They too had laws passed to allow discrimination against them.

They weren't allowed to vote.
They, along with the Irish, were worked to death building the railroads that truly made the wealth of this nation...the black slaves were too valuable to be exposed to such hard labor, so their owners refused to allow them to do that work.

And here, 150 years later, you wallow in your misery and victimhood, but they, and the Irish, kick your miserable asses in every economic metric.

Why is that?

 

[Hector12]

How come the Chinese do so much better than you blacks? They were treated worse than 99% of the slaves were. They too had laws passed to allow discrimination against them.

They weren't allowed to vote.
They, along with the Irish, were worked to death building the railroads that truly made the wealth of this nation...the black slaves were too valuable to be exposed to such hard labor, so their owners refused to allow them to do that work.

And here, 150 years later, you wallow in your misery and victimhood, but they, and the Irish, kick your miserable asses in every economic metric.

Why is that?

IQ differences.

 

[Woodznutz]

"After emancipation, proposals to provide former slaves with land so they could survive economically were largely defeated. Thus in 1870, the wealth gap between Black and White Americans was a staggering 23 to 1. That's equivalent to just $4 of wealth for Black Americans for every $100 for White Americans.

Fast forward 150 years and that gap has narrowed to about 6 to 1—and yet, a significant gap remains: average per capita wealth of White Americans was $338,093 in 2019 but only $60,126 for Black Americans."

White supremacists need to shut up about this. Blacks are made poor because of race. Republicans want to keep it that way.

Blacks are doing just fine. Just look at all those tv ads. Madison Avenue doesn't advertise to people that don't have spending money. And, if blacks were saving and investing, more of those companies would be advertising their services to them (although there are some that do, which is encouraging).

 

[Lisa558]

Blacks are doing just fine. Just look at all those tv ads. Madison Avenue doesn't advertise to people that don't have spending money. And, if blacks were saving and investing, more of those companies would be advertising their services to them (although there are some that do, which is encouraging).

I went to an upscale steakhouse the other night - had to stick with the $27 hamburger, cheapest thing on the menu - and I’d estimate that at least half the patrons were black.

(This was about 20 miles outside DC, in Maryland. Lots of overpaid government workers, many promoted to high GS Levels due to affirmative action. These black couples easily pull in $300k.)

 

[Ms. Turquoise]

Now it's time to deconstruct this excuse primarily made by right wing whites, although a couple of so called liberals have made the same excuse.

"The dawn of emancipation in the United States saw 4 million former slaves, 90 percent of the Black American population, gain their freedom. But they did so in poverty, as Du Bois describes: A few years prior, they had been counted as wealth, earning and owning nothing in their own name.

After emancipation, proposals to provide former slaves with land so they could survive economically were largely defeated. Thus in 1870, the wealth gap between Black and White Americans was a staggering 23 to 1. That's equivalent to just $4 of wealth for Black Americans for every $100 for White Americans.

The mission of the Opportunity & Inclusive Growth Institute is to conduct and promote research that will increase economic opportunity and inclusive growth for all Americans and help the Federal Reserve achieve its maximum employment mandate. Connect with us to receive emails with Institute news, insights, and events.

Fast forward 150 years and that gap has narrowed to about 6 to 1—and yet, a significant gap remains: average per capita wealth of White Americans was $338,093 in 2019 but only $60,126 for Black Americans."

View attachment 835260

How the racial wealth gap has evolved—and why it persists | Federal Reserve Bank of Minneapolis

New dataset identifies the causes of today’s wealth gap

www.minneapolisfed.org

The black proportion of national wealth has remained basically the same since slavery. Whites on average are born into at least 6 times more wealth than blacks and they are born into what they did not personally produce. On the other hand, blacks are born into deficts they did not create. Since racism caused this, simply not talking about race or being "colorblind" is not going to cure this economic disparity.

Thank you!

 

[Ms. Turquoise]

I went to an upscale steakhouse the other night - had to stick with the $27 hamburger, cheapest thing on the menu - and I’d estimate that at least half the patrons were black.

(This was about 20 miles outside DC, in Maryland. Lots of overpaid government workers, many promoted to high GS Levels due to affirmative action. These black couples easily pull in $300k.)

Are you jealous? How do you know they benefitted from Affirmative Action? How do you know how much money they make per year?

 

[Lisa558]

Are you jealous? How do you know they benefitted from Affirmative Action? How do you know how much money they make per year?

1) Because I know that the majority of people in this area are affiliated with the government, and it would take an income of $300k to be able to pay $200 for dinner for a couple. So either they are both GS 14 or 15, OR they earn less and are spending above their means (which is more common among blacks).

2) Because the odds are 2:1 that either one of them got into a program due to their race, or, in the liberal Washington DC area, were promoted because of their race.

As far as jealous, why would I be jealous for spending beneath my means so that I can retire with a 7-figure nest egg and enjoy lots of travel? Or own my house free and clear with no mortgage in a few more years?

 

[Lisa558]

The Smithsonian chart was correct, only that instead of calling the positive traits and behaviors “Traits of Whiteness,” they should have called it ”The Path to a Successful Life.”

Among them were working hard, adhering to schedules, speaking English properly, respecting authority, being part of a nuclear family, being polite, and more.

 

[IM2]

Thank you!

You are welcome sister.

 

[IM2]

Are you jealous? How do you know they benefitted from Affirmative Action? How do you know how much money they make per year?

Lisa is a white female. The number 1 beneficiary of Affirmative action.

Lisa is a stupid.... best ignored.

 

[Hector12]

Lisa is a white female. The number 1 beneficiary of Affirmative action.

Lisa is a stupid.... best ignored.

Lisa558 is Jewish. Jews have never needed affirmative action. Negroes have needed it. When affirmative action is ended by the Supreme Court, millions of Negroes will be fired from jobs their bosses never wanted to hire them for.

 

[Lisa558]

Lisa558 is Jewish. Jews have never needed affirmative action. Negroes have needed it. When affirmative action is ended by the Supreme Court, millions of Negroes will be fired from jobs their bosses never wanted to hire them for.

Thank you. I graduated top of my class and was sought after by many companies.

 

[el midgetron]

 

[el midgetron]

 

[Hector12]

The black proportion of national wealth has remained basically the same since slavery. Whites on average are born into at least 6 times more wealth than blacks and they are born into what they did not personally produce. On the other hand, blacks are born into deficts they did not create. Since racism caused this, simply not talking about race or being "colorblind" is not going to cure this economic disparity.

The gap that really matters is the IQ gap.

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RACE, INTELLIGENCE, AND THE BRAIN: THE ERRORS ANDOMISSIONS OF THE ‘REVISED’ EDITION OF S. J. GOULD’STHE MISMEASURE OF MAN (1996)J. Philippe RushtonDepartment of Psychology, University of Western Ontario. London, Ontario N6A 5C2, Canada

The average IQ for African-Americans was found to be lower than those for Latino-, White-, Asian-, and Jewish-Americans (85, 89, 103, 106, and 115,respectively,

https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.543.2771&rep=rep1&type=pdf

 

[IM2]

Idiots who don't know the facts need not comment. White women WERE the number 1 beneficiary of Affirmative action. Do a search, become better informed.