Wealth inequality between whites and minorities reaches highest point since 1989
53 replies, posted
[quote]The Great Recession hit all Americans hard, but only whites have seen their wealth rise during the recent recovery.
And that's widening the already massive wealth gap between whites and other racial and ethnic groups to near record levels.
White households' median wealth ticked up to $141,900 in 2013, up 2.4% from three years earlier, according to a Pew Research Center report released Friday.
Net worth for black households dropped by a third during that time to $11,000. Hispanic families experienced a 14% decline in wealth to $13,700.
Whites have 13 times the net worth of blacks, the largest wealth gap that's existed since George H.W. Bush was president in 1989. The ratio of net worth between whites and Hispanics now stands at more than 10, the widest it has been since 2001.
Minority households' median income fell 9% between 2010 and 2013, compared to a drop of only 1% for whites. So minority households may not have been able to sock away as much or may have had to use more of their savings to cover expenses.[/quote]
[url]http://money.cnn.com/2014/12/12/news/economy/wealth-by-race-pew/[/url]
Would like to know how jews and asians stand among the minorities.
To spice up the problem of the wealth gap, they made it a racial issue too. Oh, those media and their click bait tricks...
[QUOTE=AntonioR;46721052]To spice up the problem of the wealth gap, they made it a racial issue too. Oh, those media and their click bait tricks...[/QUOTE]yeah wonder how it looks next to a normal wealth inequality chart
I feel like 2014 has just been the year of discrimination.
[QUOTE=MightyLOLZOR;46721131]I feel like 2014 has just been the year of discrimination.[/QUOTE]
Every year is the year of discrimination for somebody.
I call shenanigans.
I'm white but I've made less than $10,000 this year and I've never made more than $13,000 a year in the last 10 years.
[QUOTE=GiGaBiTe;46721209]I call shenanigans.
I'm white but I've made less than $10,000 this year and I've never made more than $13,000 a year in the last 10 years.[/QUOTE]
Wealth, not income.
[editline]15th December 2014[/editline]
I also don't think you anecdote can stand against Pew's [URL="http://www.pewresearch.org/fact-tank/2014/12/12/racial-wealth-gaps-great-recession/"]research [/URL]but feel free to break it down for us if you still call shenanigans.
Recessions always harm those who are less economically stable more than those who have enough wealth to survive any economic crisis. It is not surprising that poorer households lost more of their worth than richer ones, and that inequality between those households increased.
It's still awful, though.
[QUOTE=wraithcat;46721046]Would like to know how jews and asians stand among the minorities.[/QUOTE]
[url]http://www.pewsocialtrends.org/2012/06/19/the-rise-of-asian-americans/[/url]
[QUOTE=wraithcat;46721046]Would like to know how jews and asians stand among the minorities.[/QUOTE]
Being Jewish does not constitute a ethic minority. Thats an identity of a religion.
[QUOTE=AntonioR;46721052]To spice up the problem of the wealth gap, they made it a racial issue too. Oh, those media and their click bait tricks...[/QUOTE]
the 'they're using the race card!'-card becomes less compelling when you decide to slap it onto anything that vaguely mentions racial inequality.
i wonder what that reminds me of...
One of the problems I see in Buffalo (I'm guessing this also applies to other places, but I may be wrong) is that many minorities abuse the welfare system a lot, and just live off of food stamps without working at all.
[QUOTE=GiGaBiTe;46721209]I call shenanigans.
I'm white but I've made less than $10,000 this year and I've never made more than $13,000 a year in the last 10 years.[/QUOTE]
october was cold, so global warming doesn't exist
I've always thought bringing race into the income/wealth gap kinda of undermines the severity of the subject. It gets people hung up on race instead of huge gap that exists between the extremely wealthy and everybody else.
[QUOTE=spiritlol;46722457]I've always thought bringing race into the income/wealth gap kinda of undermines the severity of the subject. It gets people hung up on race instead of huge gap that exists between the extremely wealthy and everybody else.[/QUOTE]
There is no such thing as too much information when crafting policy.
[QUOTE=Code3Response;46721610]Being Jewish does not constitute a ethic minority. Thats an identity of a religion.[/QUOTE]
Uh nope - jews are an ethnic first, religion second.
[QUOTE=wraithcat;46721046]Would like to know how jews and asians stand among the minorities.[/QUOTE]
jews aren't even the highest earners in america, hindus are
they're all engineers or doctors though
[QUOTE=AntonioR;46721052]To spice up the problem of the wealth gap, they made it a racial issue too. Oh, those media and their click bait tricks...[/QUOTE]
the wealth gap has always been a racial issue? a major point of sociological study for half a century has been "why are black people almost always poorer than white people?" and it's a very valid question in the same way that looking at glass ceiling issues with women is a very valid topic of research
i dont know why so many facepunch members refuse to acknowledge race as an issue in modern culture. it's like there's this head in the sand response where you think racism doesn't exist anymore despite being pointed to evidence that shows systemic racism still being a problem in the western world
like you're all for being up in arms about police brutality and wealth inequality, but the moment someone points to the facts that say "black people get killed by police more" or "black people are poorer than white people" it's suddenly "wow look at the media trying to create an issue out of nothing..... racism doesn't exist...." and people being incredibly short-minded and looking at short-term causality instead of the bigger picture and saying things like "hmph well maybe black people would be shot by the police less if they weren't all gangsters breaking the law... anyways wealth inequality isn't a race issue" like woah are you people blind or just stupid to not see the connection
[QUOTE=ChestyMcGee;46722665]the wealth gap has always been a racial issue? a major point of sociological study for half a century has been "why are black people almost always poorer than white people?" and it's a very valid question in the same way that looking at glass ceiling issues with women is a very valid topic of research
i dont know why so many facepunch members refuse to acknowledge race as an issue in modern culture. it's like there's this head in the sand response where you think racism doesn't exist anymore despite being pointed to evidence that shows systemic racism still being a problem in the western world
like you're all for being up in arms about police brutality and wealth inequality, but the moment someone points to the facts that say "black people get killed by police more" or "black people are poorer than white people" it's suddenly "wow look at the media trying to create an issue out of nothing..... racism doesn't exist...." and people being incredibly short-minded and looking at short-term causality instead of the bigger picture and saying things like "hmph well maybe black people would be shot by the police less if they weren't all gangsters breaking the law... anyways wealth inequality isn't a race issue" like woah are you people blind or just stupid to not see the connection[/QUOTE]
It's pretty funny that, as much as Facepunch loves to make fun of Fox news, many users seem to say the exact same things concerning some political issues
If you guys think that asians don't get discriminated against, then you're wrong. A homeless vet called me a chinese nigger awhile back.
[QUOTE=ChestyMcGee;46722665]the wealth gap has always been a racial issue? a major point of sociological study for half a century has been "why are black people almost always poorer than white people?" and it's a very valid question in the same way that looking at glass ceiling issues with women is a very valid topic of research
i dont know why so many facepunch members refuse to acknowledge race as an issue in modern culture. it's like there's this head in the sand response where you think racism doesn't exist anymore despite being pointed to evidence that shows systemic racism still being a problem in the western world
[/QUOTE]
I think it's due to the fact that a lot of us come from very ethnically homogenous nations. In these most of your interactions with other ethnics is usually with fairly well off immigrants.
It creates a certain different impression. While there are certain groups even in these nations that are below the ceiling, these tend to be a very small group of the population.
As an example 13% of black americans versus something like .5-1% of roma in my nation. It creates a certain difference in how people see race. What is normal for people from a country with larger ethnic groups is often alien to people with vastly different experiences.
The strong opposition then often comes as a defense against a certain US and to an extent UK pushes of their cultural standards.
Its okay, its not their fault, its the evil white man keeping them down.
I love how Asians are never mentioned when it comes to income inequality. They totally ruin the narrative.
[QUOTE=Pantz Master;46723268]I love how Asians are never mentioned when it comes to income inequality. They totally ruin the narrative.[/QUOTE]
Because it's not that good for asians either
They're better off than hispanics and blacks, but they still aren't anywhere near equal.
[QUOTE=wraithcat;46721046]Would like to know how jews and asians stand among the minorities.[/QUOTE]
From what I read, Asians have a higher mean income than whites in the US.
That doesn't automatically prevent other forms of discrimination
[editline]15th December 2014[/editline]
People love to talk about how much money Jews make but that doesn't help us against being discriminated. Look at what's happening to Jews in France, it's frightening.
[QUOTE=thelurker1234;46723306]Because it's not that good for asians either
They're better off than hispanics and blacks, but they still aren't anywhere near equal.[/QUOTE]
[img]http://www.pewsocialtrends.org/files/2012/06/2012-sdt-asian-americans-002.png[/img]
well I mean, by these measures they're actually better off. Are you sure about that?
[QUOTE=thelurker1234;46723306]Because it's not that good for asians either
They're better off than hispanics and blacks, but they still aren't anywhere near equal.[/QUOTE]
You're right, they're not equal. They are better than equal.
[QUOTE=wraithcat;46721046]Would like to know how jews and asians stand among the minorities.[/QUOTE]
does the good performance of jews and asians somehow negate the fact that blacks and hispanics have lower incomes and are disproportionately effected by economic downturn or..
like i'm having a hard time understanding what point you all are trying to make by talking about asians and jews
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