Closing the racial wealth gap is something that is important to many individuals, and according to Patrick McCarthy and Sara Johnson (2016) writing an article that points out the effects of the gap and how to fix the gap seems like a simple way to guide those in need. Both McCarthy and Johnson noted that many of the individuals that are suffering are individuals of color that do not having savings to fall back on. They are also living under federal government restrictions that are increasing the odds of not achieving the American dream of owning a home. However, for many Whites not having savings or federal restrictions are unknown, which gives Whites an advantage over individuals of color with having their American dream. McCarthy and Johnson (2016) also stated a few ways that individuals of color can change the wealth gap, such as by starting saving accounts at early ages. Which can help with higher education or buying a home in the future. Another example, is having the government allow individuals that receive any form of federal assistance have a saving account of more than one thousand dollars, which will help individuals become less dependent on federal assistance.
From the beginning of time there has always been a way to tell the difference between individuals with wealth …show more content…
For example, class is seen as objective (things that can be counted) and status is seen as subjective (opinion of individuals) (Gilbert, 2015). Weber also pointed out the importance of power and how it was administrated (Gilbert, 2015). The reason that these facts are relevant to the racial wage gap is because many African Americans and Latinos have had both their class and status stripped away from them because of their lack of resources, and they may feel powerless against the policies and injustice that are holding them back from achieving the same goals as White
From the beginning of time there has always been a way to tell the difference between individuals with wealth …show more content…
For example, class is seen as objective (things that can be counted) and status is seen as subjective (opinion of individuals) (Gilbert, 2015). Weber also pointed out the importance of power and how it was administrated (Gilbert, 2015). The reason that these facts are relevant to the racial wage gap is because many African Americans and Latinos have had both their class and status stripped away from them because of their lack of resources, and they may feel powerless against the policies and injustice that are holding them back from achieving the same goals as White