The economic divide between races in the US is just as big as it was in 1968
saturday June 6th 2020
A key indication of how systemic the problem of racism is in the US, is the state of who holds the majority of the economic health.
In 1968, the average middle-class Black household had $6,674 in wealth compared with $70,786 for the typical middle-class White household, according to data from the historical Survey of Consumer Finances that has been adjusted for inflation. Fast forward 48 years and in 2016, the typical middle-class Black household had $13,024 in wealth versus $149,703 for the median White household.
To break down what wealth actually means, it basically takes into account not just a person’s wages, but homes, stock-market investments and other assets. The conclusion, the more wealth you have, the more of a comfortable and safe life you live. And, perhaps more importantly, it is passed on to the next generation, creating a firm foundation for generational wealth.
To find out more about this, read this article by The Washington Post