Closing The Racial Wealth Gap Essay

1209 Words Feb 24th, 2016 null Page
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 and income, from those that had low or no wealth and income. There are two important historical figures that helped point out the differences between the groups, and why the groups…

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