With just $0.05 a day, this Blueprint will make us strong, firm warriors in the battle to end poverty-->

Truth is in favor of you and me; for the truth of our enemies whom we have been serving here in the U.S.A. for over 400 years (whom we did not know to be our enemies by nature) is the truth that the Black Man must have knowledge of to be able to keep from falling into the deceiving traps that are being laid by our enemies to catch us in their way which is opposed to the way of righteous of whom we are members. ~ The Honorable Elijah Muhammad

Monday, September 8, 2014

The Racial Wealth Gap in the U.S., Or, Whites Own Almost Everything. How Did White People Get So Rich?

Demos continues to highlight the nation’s extraordinary racial wealth gap with Matt Bruenig’s review of the Federal Reserve’s recently released 2013 Survey of Consumer Finances (SCF). While the median white family has a net worth of $134,000, figures drop precipitously for families of color. As of 2013, the median Hispanic family’s worth is $14,000. The median black family has a net worth of $11,000. Research has long singled out wealth accumulation—what families own minus debt—and not income as the key driver of upward mobility for both parents and their children.

Wage gap and income inequality growing

“While the economy is picking up steam, income inequality and wage gaps are an alarming trend that must be addressed,” said U.S. Conference of Mayors President Sacramento Mayor Kevin Johnson.  

“This Task Force, led by New York City Mayor Bill de Blasio, will recommend both national and local policies that will help to give everyone opportunity.  We cannot put our heads in the sand on these issues,” he said. 

The report also shows the gap between low and higher income-households is growing and will continue into the foreseeable future. In 2012, the latest year for which figures are available, 261 (73 percent) out of 357 metro cities had a larger share of poorer households (those making less than $35,000 per year), than upper income households of above $75,000.

U.S. wealth gap widens since Great Recession–study

The wealth gap in the U.S. has been widening since the Great Recession despite the 2008 financial crisis destroying billions of dollars in wealth. The recovery saw the richest restore much of their losses— unlike average Americans, researchers found.

The wealthiest 5 percent of Americans had 24 times the wealth of the average household in 2013, up significantly from 16.5 times as much in 2007, AP said, quoting a study by the University of Michigan.

A large part of the explanation for the yawning gap that now separates the rich from everybody else in America is the collapsed housi

Hard Work or Hardly Working? How White People Got So Rich Part 2

* Hard Work or Hardly Working? How White People Got So Rich Part 1

* Hard Work or Hardly Working? How White People Got So Rich Part 3

* Hard Work or Hardly Working? How White People Got So Rich Part 4

And remember We rescued you from Pharaoh's people, who afflicted you with the worst of penalties, who slew your male children and saved alive your females: in that was a momentous trial from your Lord. —Holy Qur'an, Surah (Chapter) 7, Verse 141

wilson_gompers06-07-2011.jpg

 

There is nothing mystical or mysterious about how White people established their superior position in America—and it had absolutely nothing to do with either merit or “hard work.” The list of benefits that Whites granted to themselves—mostly by gangster force and wily deception—is the untold reality behind the building of their vast portfolios of plunder. Within this four-part FinalCall.com News series, we see every sector of American society implementing profoundly racist policies and programs that are respected and enforced by every other sector. The executive, judicial, and legislative branches of government, private industry, the media, the labor movement, religious institutions, and the corporate world—ALL have agreed on one thing: White Supremacy must prevail. Here is how they do it:

DISCLAIMER

Know4LIFE's Raw Info. is a blog designed to bring alternative news and information that is relevant to the Black and disadvantaged communities. As such, any and all views and opinions expressed herein, regardless of authorship, do not represent the views or opinions of any author's employer or people, institutions or organizations that the author may or may not be related to or affiliated with unless explicitly stated otherwise. Raw Info. includes links to other sites/blogs operated by third parties. These links are provided for convenience and informational purposes only. As such, the information, opinions, products, and/or services contained therein do not reflect the views and opinions of or represent endorsement Know4LIFE. All images that appear on Raw Info. are under the copyright of their respective owners. Know4LIFE does not claim credit for any image unless explicitly stated. If you own the rights to any image appearing on Raw Info. and do not wish for it to appear, please notify Know4LIFE immediately and the image shall be promptly removed.