Racial Wealth Gap Analysis

Race holds down black incomes, along with anyone who isn’t white, and has an impact on homeownership among other possessions. With the widening racial divide it would take black Americans two hundred and twenty-eight years to have as much wealth as white Americans have today. Some of these reasons are clear: the unemployment rate among black Americans is roughly twice that of whites, and black people earn, on average, between twelve and twenty-two percent less than white people with similar education and experience. The wealth gap between black and white Americans is much bigger than the income gap, thanks to institutionalized discrimination, persistent racism, and policies that amplify inequality. This has been a steady issue for the past couple centuries, and is …show more content…
If the government does not get a grasp on this economic problem soon, it will cause our economy to do nothing but diminish even more. The persistent diminishing of our economy will slowly but surely cause our country to tap into all of our resources and run them dry. In my opinion this racial wealth gap is huge, and it is an important growing issue that needs to be addressed. According to “a 2013 study [conducted] by [Thomas] Shapiro [it was discovered] that for white families every dollar increase in income yields an increase of $5.19 in wealth; for black households the figure is just sixty-nine cents.” Now you see these numbers in comparison to each other if you still feel that nothing is wrong with the government, or economy, there has to be something going on mentally with you. This country finds just about any way possible to hold us back. For example, “Only forty-one percent of black Americans own their homes, compared with