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Without Change, African-American and Latino Families Won’t Match Current Average White Wealth for Centuries


#1

Without Change, African-American and Latino Families Won’t Match Current Average White Wealth for Centuries

WASHINGTON - If current federal wealth-building policies remain in place, it will take the average African-American family 228 years to amass the same amount of wealth that white families have today and it will take Latino families 84 years to reach that goal, according to a new report from the Corporation for Enterprise Development (CFED) and the Institute for Policy Studies (IPS).

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#2

I guess it's all in how one presents the issue. The great majority of US poor are white, and this has always been true. The majority of desperately poor -- the homeless, those with $0 incomes -- are white. They share in none of that "average white income." Indeed, we don't even have a means of determining how many there are. How could they be counted? We can add up employment statistics, add up the number of people receiving UI, add up jail and morgue statistics, but without welfare (therefore welfare statistics), we don't know how many are destitute.

We can point out that it has been years since there was any talk about joblessness, homelessness, deep poverty in the black community. They're all gainfully employed, doing alright. Hunger and hopelessness are things of the past for people of color. Right?

It's weird, really. The US shut down/shipped out an entire chunk of our jobs since the 1980s, then ended actual welfare in the 1990s, and our American media would have us believe that there are no consequences. Meanwhile, out here in the real world, not everyone can work (health, etc.) and there aren't jobs for all. The last I heard, there are 7 jobs for every 10 people who still have the means to pursue one (home address, phone, etc.). Well, what happens to all those who are left out?