Black Spending Power Is an Illusion, but the Racial Wealth Gap is Real 5/15
- Thread starter AlainLocke
- Start date
Has been talked about on here plenty of time before but the "racial wealth gap" is an illusion as well.
For the last 60 years or so all the gains have gone to the top ~5% who are overwhelmingly white.
Remove them from the picture and the wealth gap closes immensely.
Beyond that, the majority of Americans only "wealth" is their home. Homes or "wealth" were passed out to white folks in the 60s and 70s as blacks were barred from the same type of ownership. Take that away and the average white family is no better off than the average black family. In fact blacks have been making gains while whites have been going in the opposite direction.
Talk of the "racial wealth gap" is just a distraction from the fact that the top ~5% in this country are hoarding all the wealth. It keeps white folks complicit cause they feel at least they are better off than the black folks, and it keeps black folks chasing after a dream that's all smoke and mirrors.
For the last 60 years or so all the gains have gone to the top ~5% who are overwhelmingly white.
Remove them from the picture and the wealth gap closes immensely.
Beyond that, the majority of Americans only "wealth" is their home. Homes or "wealth" were passed out to white folks in the 60s and 70s as blacks were barred from the same type of ownership. Take that away and the average white family is no better off than the average black family. In fact blacks have been making gains while whites have been going in the opposite direction.
Talk of the "racial wealth gap" is just a distraction from the fact that the top ~5% in this country are hoarding all the wealth. It keeps white folks complicit cause they feel at least they are better off than the black folks, and it keeps black folks chasing after a dream that's all smoke and mirrors.