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Thread: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Blacks:

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    Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Blacks:

    The wealth gap between blacks and whites has ballooned since the middle of the Reagan administration, nearly tripling between 1984 and 2009, according to a new Brandeis University study.

    The study, released Wednesday, found that the median white household held a net worth of $265,000 by 2009, eight times more than the median black household's net worth of just $28,500. That division will continue to haunt black Americans for years to come, according to Tatjana Meschede, a co-author of the study.


    Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Blacks: Study


    How is this happening? I know the average wages in this country have remained stagnant, but my impression has been that black folks slowly but surely have shattered the glass ceiling in many industries. I guess I was wrong.

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Implying what exactly? Using the Reagan through Bush (careful not to mention Clinton in between) period for this "study", carefully omitting any Obama years as well, shows us just what? While statistics can be fun to use, what policy is supposed to be "responsible" for this? Note the article's closing statement:

    The Census Bureau reported last year that the median white household held a net worth of $110,729 in 2010, while the median black household held a net worth of just $4,995, a disparity even greater than that reported by the Brandeis University study.
    Does that then "prove" that Obama has made it even worse?
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    The Jim Crow Laws still at work I see.

    Great book, explains it all.

    Smoke a blunt-JAIL!

    Crash the housing market-$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$

    'MERICA

    The New Jim Crow:

    The New Jim Crow: Michelle Alexander, Cornel West: 9781595586438: Amazon.com: Books

    Once in a great while a book comes along that changes the way we see the world and helps to fuel a nationwide social movement. The New Jim Crow is such a book. Praised by Harvard Law professor Lani Guinier as "brave and bold," this book directly challenges the notion that the election of Barack Obama signals a new era of colorblindness. With dazzling candor, legal scholar Michelle Alexander argues that "we have not ended racial caste in America; we have merely redesigned it." By targeting black men through the War on Drugs and decimating communities of color, the U.S. criminal justice system functions as a contemporary system of racial control—relegating millions to a permanent second-class status—even as it formally adheres to the principle of colorblindness. In the words of Benjamin Todd Jealous, president and CEO of the NAACP, this book is a "call to action."

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Quote Originally Posted by 66gardeners View Post
    The wealth gap between blacks and whites has ballooned since the middle of the Reagan administration, nearly tripling between 1984 and 2009, according to a new Brandeis University study.

    The study, released Wednesday, found that the median white household held a net worth of $265,000 by 2009, eight times more than the median black household's net worth of just $28,500. That division will continue to haunt black Americans for years to come, according to Tatjana Meschede, a co-author of the study.


    Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Blacks: Study


    How is this happening? I know the average wages in this country have remained stagnant, but my impression has been that black folks slowly but surely have shattered the glass ceiling in many industries. I guess I was wrong.
    The wealth gap has been an ever widening chasm for everyone. By placing this into a white black paradigm the article is aiding in what I feel is the root of racism. Dividing a whole by its parts. Focusing on the distinction of race rather than the disparity in wealth.

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Quote Originally Posted by JackFrost View Post
    The Jim Crow Laws still at work I see.

    Great book, explains it all.

    Smoke a blunt-JAIL!

    Crash the housing market-$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$

    'MERICA

    The New Jim Crow:

    The New Jim Crow: Michelle Alexander, Cornel West: 9781595586438: Amazon.com: Books

    Once in a great while a book comes along that changes the way we see the world and helps to fuel a nationwide social movement. The New Jim Crow is such a book. Praised by Harvard Law professor Lani Guinier as "brave and bold," this book directly challenges the notion that the election of Barack Obama signals a new era of colorblindness. With dazzling candor, legal scholar Michelle Alexander argues that "we have not ended racial caste in America; we have merely redesigned it." By targeting black men through the War on Drugs and decimating communities of color, the U.S. criminal justice system functions as a contemporary system of racial control—relegating millions to a permanent second-class status—even as it formally adheres to the principle of colorblindness. In the words of Benjamin Todd Jealous, president and CEO of the NAACP, this book is a "call to action."
    Are you trolling or are you serious? Because if you are trolling, then yes,
    If you are serious... you have the big problem.

    And here I do not use trolling with the intention of calling you a troll. But with the thought that you are in fact making a mockery of the "new jim crow" book which is utter non-sense.

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Quote Originally Posted by Rainman05 View Post
    Are you trolling or are you serious? Because if you are trolling, then yes,
    If you are serious... you have the big problem.

    And here I do not use trolling with the intention of calling you a troll. But with the thought that you are in fact making a mockery of the "new jim crow" book which is utter non-sense.
    If you are familiar with Milton Friedman's work, you will also notice most bad laws, like minimum wage and the war on drugs as described in the book, have the most adverse affects on the black community.

    The racial wealth gap is simply a result of bad laws. It affects all races, the black community more so than others.

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Quote Originally Posted by JackFrost View Post
    If you are familiar with Milton Friedman's work, you will also notice most bad laws, like minimum wage and the war on drugs as described in the book, have the most adverse affects on the black community.

    The racial wealth gap is simply a result of bad laws. It affects all races, the black community more so than others.
    That is actually true, but that is not what Jim crow laws were about.

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Quote Originally Posted by ChezC3 View Post
    The wealth gap has been an ever widening chasm for everyone. By placing this into a white black paradigm the article is aiding in what I feel is the root of racism. Dividing a whole by its parts. Focusing on the distinction of race rather than the disparity in wealth.
    Exactly!

    The racial wealth disparity has been with us for a long, long time, but it is not new racism that has increased the gap, it is the simple fact of wealth concentration that has increased the gap between the super-wealthy and the rest, and this exagerrates the already existing racial gap.

    I think a lot of people completely misunderstand the idea of redistribution. They think it is a socialist buzzword for stealing from the productive, but in fact all government throughout all of history have engaged in redistribution and POLICY determines redustribution, the only differences were to whom and from whom. Czarist Russia engaged in redistribution during the era of feudal serfdom, the output of serfs were redistributed under law to the nobles to the point where the Nobles owned virtually 100% of everything. The way to understand redistributive policies is to see what the outcome is. If wealth is increasing concentration to one group and decreasing in another, you have redistributive policies. The Communist Revolution of 1917 implemented redistributive policies, and the result was that where wealth was concentrated, it was (for lack of a better word) taxed at 100% (plus decapitation in many cases) and was distributed to the people (realistically, it was redistributed to the party and then concentrated again in party leaders).

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Quote Originally Posted by JackFrost View Post
    If you are familiar with Milton Friedman's work, you will also notice most bad laws, like minimum wage and the war on drugs as described in the book, have the most adverse affects on the black community.

    The racial wealth gap is simply a result of bad laws. It affects all races, the black community more so than others.
    Sounds like more of a condemnation on culture, not economics.

    Saying that minimum wage and drugs are more of a black issue than a white issue is probably more racist than anything you were trying to defend. Congratulations on that.

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    Re: Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Bla

    Quote Originally Posted by 66gardeners View Post
    The wealth gap between blacks and whites has ballooned since the middle of the Reagan administration, nearly tripling between 1984 and 2009, according to a new Brandeis University study.

    The study, released Wednesday, found that the median white household held a net worth of $265,000 by 2009, eight times more than the median black household's net worth of just $28,500. That division will continue to haunt black Americans for years to come, according to Tatjana Meschede, a co-author of the study.


    Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Blacks: Study


    How is this happening? I know the average wages in this country have remained stagnant, but my impression has been that black folks slowly but surely have shattered the glass ceiling in many industries. I guess I was wrong.
    Perhaps you could start listening to those who have been screaming about the impact of illegal immigration.

    I doubt it though.

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