You don't understand, that all this wealth? it is primarily owned by just a few hundred families. And these families? Are mostly liberal. . . THEY WANT YOU TO KNOW, and to believe it is because of racism.
Most of racial discussion in this forum boils down to political prostelytizing at the bottom of all of it..
WEALTH don't equal money for starters. Most wealth is in the capital investments that America cannot do without.. It's those fleets of cars at Avis/Budget. It's in factories, real estate, entertainment companies, agricultural land and equipment.. Leftists don't understand wealth and why it can not be simply redistributed like income can..
Ask these guys if they LOVE the concept of the Death Tax... POLITICALLY -- they have to.. But a return to the Death Taxes of old would GUARANTEE no equal chances for current black outperformers to ACQUIRE any degree of wealth.. It's the Iron Ceiling on achieving family security and legacies...
Your opinion is not supported by reality. You talk that leftist shit and that just shows you're an idiot. I had a life and health license and was licensed to sell securities. The company sales strategy was buy term insurance and invest the rest instead of buying whole life plans or annuities. But anyway, we know what wealth is. And if you right wingers knew so much about wealth, you wouldn't advocate a trickle down philosophy.
But let's get straight to the meat. Let me repost these things because it seems like those such as you don't comprehend the big ass bullets America has fired into it's chest every year economically due to racism.
On October 24, 2013, the Kellogg Foundation sent out a press release about a report they had done entitled,
“The Business Case for Racial Equity”. This was a study done by the Kellogg Foundation, using information it had 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
In 2011, DEMOS did a study named
“The Racial Wealth Gap, Why Policy Matters”, which discussed the racial wealth gap, the problems associated with it along with solutions and outcomes if the gap did not exist. In this study DEMOS determined that the racial wealth gap was primarily driven by policy decisions.
“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.”
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. For example, there are almost 17 million black households. 16,997,000 to be exact. There are 17,318,000 Latino households. The median white household had an income of $50,400 a year while the median income was $32,028 for Blacks and $36,840 for Latinos. That difference of $18,372 for blacks and $13,560 for Latinos equals a combined loss of $31,932 for over 34 million households each year. It is a loss of over 1/2 trillion dollars of taxable income annually. In addition, racism erases billions of dollars that can be circulated in our economy. These are huge losses created because of racist public policy.
Over the course of the past several decades we have heard over and over how if we cut taxes we stimulate growth. But it seems that if we erase racism, racist policies and racist policy decisions that adversely affects COMMUNITIES, that we could erase many of the problems we see today. We are talking about serious increases in GDP, deficit reductions, increased tax revenue, more tax payers instead of more needing public assistance, increased corporate profits which means more jobs and yet there remains a great resistance to do this. Again, racism is more than racial slurs or racist comments. Racism in America has had a negative economic impact on the black community, other communities of color and in fact, the entire country.
In order to reach true equality in a capitalist system all must have equal control of capital, especially in our own communities. Blacks have an economy of 1.3 trillion dollars. According to the U.S. Census Bureau, there are 2.6 million Black-owned business in the United States, compared to 22.6 million white-owned businesses. Blacks/African Americans, who make up more than 13% of the U.S. population, only own about 7% of all the businesses in the country, and generate only about 0.5% of total receipts. Out of those 2.6 million businesses, 95 percent were sole proprietorships with no hired employees. 109,000 of these businesses were able to hire employees. Those businesses hired over 975,000 people.
It is apparent that such numbers need to increase. While much is made about foreign trade deficits, Americans face internal trade deficits of our own making.
Racists are very good at instructing everyone as to the percentage of blacks in the population. And they reach hard to extrapolate exaggerated numbers about crime, often conflating murder with total crime. But somehow and really it's done on purpose because we are dealing with racists, are other important statistical data is not discussed.
Blacks are 13 percent of the American population but have 2.6 percent of the wealth. This did not happen because of laziness. Indeed, the historical records shows that blacks have consistently worked as hard or harder than whites and for far less money, including over 230 years for free. Equality in a capitalist system means we have 13 percent of the wealth. We have 1/5 the wealth we should have in proportion to our population.
Before I end this, let me break down what white racism has done to this nation. While certain whites gloat about how successful they have been as a race and lecture others about how they have failed, facts they have created the problems being complained about today. If not for racism everyone would be better off economically, fewer people would be on the public dime, tax revenues would increase at every level with possibly no national deficit or debt. Crime and unemployment would be reduced. More than likely the increased tax revenue could help provide free education and health care to all American citizens. Study after study shows us that many economic problems we have as a country stems from the denying opportunities for people of color due to racism.
This ain't about the death tax and you have to dig deeper than the Pleasantville mentality you currently have to understand how I can say that if not for white racism, taxes would not be a concern.
