Top 10% Now Own 77% of American Wealth + Widening Racial Wealth Gap

[Alpha Male]

you asked why they aren't on the graph as Asians.

I said saying Asians is an odd grouping.

Responding to your question.


The economy is rigged for the wealthy. That's why the gap grows.

Regarding your numbers college educated blacks make around 82k a year. I'm not sure what you're getting at or the point went over your head.

Well assuming that is correct, wouldnt that suggest family and education are bigger factors in determining poverty than race?

 

[Alpha Male]

How does the government control family structure? Are people supposed to get married because a politician says so?

It would nice if the democratic leaders stressed family values and education the same way they do Donald Trump’s tweets.

Also it would be nice if people weren’t given incentives to be on welfare and abandon their duties as a parent.

 

[Black Panther]

@Alpha Male do you believe in systemic racism? Especially in regards to African Americans and Latinos being systematically denied economic opportunity? :bpthink:

That is, is it possible that there are systemic factors that limits economic advancements for blacks and latinos that do not fit neatly into "choice" or "predetermined"? :bpthink:

 

[Alpha Male]

@Alpha Male do you believe in systemic racism? Especially in regards to African Americans and Latinos being systematically denied economic opportunity? :bpthink:

That is, is it possible that there are systemic factors that limits economic advancements for blacks and latinos that do not fit neatly into "choice" or "predetermined"? :bpthink:

I believe it has more to do with class, as the data in this thread suggests.

I know there is racism, but I do not believe it is the greatest threat facing minorities in 2017. I think if you come from a good family and work hard then upward mobility will be afforded to you.

 

[Black Panther]

I believe it has more to do with class, as the data in this thread suggests.

I know there is racism, but I do not believe it is the greatest threat facing minorities in 2017. I think if you come from a good family and work hard then upward mobility will be afforded to you.

I'm not really arguing in terms of big or small threats to minorities. Just examining a specific variable that may explain the data.

Do you think that multiple generations of being denied economic opportunity (i.e. housing discrimination, urbanization, white flight, job discrimination, mass incarceration--all of the former contributing to a lack of generational wealth) could be a limiting factor in terms of the wealth gap between whites and blacks?

None of the above phenomena are overtly "racial" per se, but due to many of these phenomena emerging from racist policies of the past century or so, they have racial connotations. (This is key in understanding systemic racism.)

That being said, if all these factors are the reason the majority of blacks and latinos lack generational wealth (capital, investment holdings, property holdings, financial know-how, etc. being passed down), is that simply "classist"?

 

[Alpha Male]

I'm not really arguing in terms of big or small threats to minorities. Just examining a specific variable that may explain the data.

Do you think that multiple generations of being denied economic opportunity (i.e. housing discrimination, urbanization, white flight, job discrimination, mass incarceration--all of the former contributing to a lack of generational wealth) could be a limiting factor in terms of the wealth gap between whites and blacks?

None of the above phenomena are overtly "racial", per se, but they have racial connotations due to many of these phenomena emerging from racist policies of the past century or so.

That being said, if all these factors contribute to the majority of blacks and latinos being lacking in generational wealth (capital, investment holdings, property holdings, financial know-how, etc. being passed down), is that simply "classist"?

Yes no doubt that racist policies in the past have contributed to the disadvantages that black people face today.

But I would also hope you understand that blacks and latinos aren’t the only groups of people who found themselves at the bottom of the economic ladder. Look at all the European immigrants that came here in the early 20th century. The Italians, the Irish, the Polish... all of these people were poor too and relegated to the ghettos. No one gave them anything. Now their families are typically middle/upper class.

This might not apply to you personally, but sometimes I get the vibe that people here have a real resentment towards rich people... especially people born into rich families. It’s not like this wealth came from thin air. If you trace the wealth of any family to it’s source you will find it began with a hard working and/or self made person.

If your grandparents were poor, and your parents were poor, and YOU’RE poor... my best advice to anyone would be to stop waiting for government to lift you up and get to work on it yourself. Nothing is stopping you. Start thinking about yourself and the future of your family.

 

[Black Panther]

The Italians, the Irish, the Polish... all of these people were poor too and relegated to the ghettos. No one gave them anything. Now their families are typically middle/upper class.

Irish, Italians, and other European immigrants were able to integrate into the larger white hegemony by participating in the discrimination of their primary competitors, i.e. free black Americans.

How the Irish Became White

Kinda weird how quickly--in historical terms, that is--discrimination disappeared against these groups. I wonder why?

 

[Black Panther]

Also, just wanted to add:

If your grandparents were poor, and your parents were poor, and YOU’RE poor... my best advice to anyone would be to stop waiting for government to lift you up and get to work on it yourself.

This statement is extremely problematic. It makes several unwarranted assumptions.

This could just as easily be chalked up to the lack generational wealth.

 

[☑︎#VoteDemocrat]

I believe it has more to do with class, as the data in this thread suggests.

I know there is racism, but I do not believe it is the greatest threat facing minorities in 2017. I think if you come from a good family and work hard then upward mobility will be afforded to you.

Yet hiring discrimination exists...

 

[Jatt]

It would nice if the democratic leaders stressed family values and education the same way they do Donald Trump’s tweets.

Also it would be nice if people weren’t given incentives to be on welfare and abandon their duties as a parent.

Most people on welfare need it, they aren't all cheating the system. Most exaggerated problem there is. Companies cheat the system and steal money in way larger numbers than people at the bottom do.

 

[-DMP-]

This is a pretty good thread. Decent points made by both sides

 

[Alpha Male]

Also, just wanted to add:



This statement is extremely problematic. It makes several unwarranted assumptions.

This could just as easily be chalked up to the lack generational wealth.

You're right, it's an assumption.

For example If I see a grown man over the age of 25 in America with no money in his pocket, no money in his bank account, and no job or regular income... I'm going to assume his priorities are out of order.

Now if someone's priorities are out of order, that falls on the people that raised him... not the government.

 

[Alpha Male]

Yet hiring discrimination exists...

In what fields?

 

[☑︎#VoteDemocrat]

In what fields?

I dont know, white man, you tell us.

 

[Alpha Male]

I dont know, white man, you tell us.

You made a pretty declarative statement so I thought you were professing to be an expert on the subject, I'm sorry.