Average black household wealth is, I believe, close to zero. White is, what, $50,000?
Rick,I'm going to wait until I get more attempts to answer this before I give mine. But I'll give you a clue: in some ways its not as bad as you think, but in others, it's a lot worse.
Wild guess. I'm going to say 65%. But there are a lot of different ways of measuring wealth.
It's 13 times higher for white households than black, or $140,000 to $11.000.
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I read an article about this a couple months ago.
Thats answer if you're talking net worth, if the question is income its about $35,000 to $60,000
Max,As far as I know, based on the most recent I've seen from the Pew Center, you're very close. Of course it varies from year to year, but I think it's roughly 17 times (White vs Black) net worth. I'm not sure about income, but your figure sounds pretty close.I'm sure economists lurking on this blog will note that the lopsided numbers are greatly skewed by the fact that the .01% of EurAmerican billionaires makes it seem the average "white" is doing much better than they actually are. But that's even more reason to finally address this "baked-in" inequality in the USA. Right?
I agree. The numbers are 100% skewed by the economic elite. Take them out of the picture and you're probably looking at a figure closer to $80,000. Still, those numbers reflect poorly, and show that our economic system is inherently unfair. This leads me to the conclusion that not enough money is invested in our poorer comunities, leaving large chunks of the population out to dry.
Max,You seem like a rare breed of Americans who base their opinons on facts, history and rational thinking. You're a prime candidate for my latest book, "RaceMan Answers: America's Toughest Questions on Race, Inequality & More". You can get it as an ebook for $1.99 at Barnes & Noble, Amazon, Kobo, etc.