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I don’t really think y& #39;all are ready to have the racial wealth gap conversation.
Primarily because we still have so many people that feel that if it’s not raining in their front yard, then rain doesn& #39;t exist at all.
Primarily because we still have so many people that feel that if it’s not raining in their front yard, then rain doesn& #39;t exist at all.
Anytime we have discussions about race and oppressive systems there is always one group that denies its existence simply because they haven& #39;t experienced it themselves.
There& #39;s also that the group that loves to bring up their very specific situation where they felt discriminated against while ignoring the context of reality where laws, practices and policies specifically excluded them from benefits.
Not one person being mean to them.
Not one person being mean to them.
Then there is this:
70% of white people think that Black people use racism as an excuse for failure and 63% of Americans believe that “Blacks not trying hard enough” is to blame for their not getting ahead than any racial discrimination (Pew Research Center January 2012).
70% of white people think that Black people use racism as an excuse for failure and 63% of Americans believe that “Blacks not trying hard enough” is to blame for their not getting ahead than any racial discrimination (Pew Research Center January 2012).
But here are the facts:
In 1862, Congress passed the Homestead act which distributed 246 million acres over the next 60 years to 1.5 million families.
In 1862, Congress passed the Homestead act which distributed 246 million acres over the next 60 years to 1.5 million families.
Today, that land would be worth between $740 billion to $1.6 trillion as of 2015 which is the equivalent of giving approx. $500,000 to $1,000,000 per family.
Of the 1.5 million families that received homestead land, 99.73% went to white families. Researchers estimate that up to 93 million Americans today are direct beneficiaries of that program.
In 1944, the Federal Gov invested $95 billion via the GI bill to create opportunities for returning soldiers, that is the equivalent of $700 billion dollars today but less than 2% of that money went to Black veterans that is nearly $45 billion denied to Black soldiers.
Between 1934 and 1962 the federal government provided over $120 billion in federal homeowner subsidies to American households less than 2% of this money went to African American families.
According to the Economic Policy Institute Black Americans with a 660 FICO credit score are three times more likely to receive a higher interest mortgage than white Americans with a 660 FICO credit score.
Also the Economic Policy Institute found that 85% of Black people we need to have Bachelor degrees for Black Americans to have the same employment rate as white Americans who have a 36% rate of college degree attainment. Right now, Black bachelor’s degree holders are at 24%.
Lastly, researchers from George Washington University found that Black homeowners receive 18% less value for their homes than white homeowners.
That’s $48,000 per home and $156 billion in cumulative losses.
That’s $48,000 per home and $156 billion in cumulative losses.
This is why it is so important not to be color blind.
Especially in the finance world!
Especially in the finance world!
And while I& #39;m at it:
No, we don’t want the Black National Anthem played at NFL games.
No, we don’t want Black Lives Matter painted on the street.
No we don’t want realtors to stop using the word “master bedroom.”
No, we don’t want the Black National Anthem played at NFL games.
No, we don’t want Black Lives Matter painted on the street.
No we don’t want realtors to stop using the word “master bedroom.”
We want equal treatment under the law.
We want murderers, especially those with badges in jail!
It. Is. Simple.
We want murderers, especially those with badges in jail!
It. Is. Simple.