Wealth Disparity

1940 Words 8 Pages
This paper provides an insight reasoning on the wealth disparity in the United States. After all the social movements that have upraised over the years for equality. The wealth disparity remain the same. It continues to be intertwine with politically and racially. Corporation increases the wealth disparity with their political agenda in mind. According to Shapiro, Thomas in the article, "Race, Homeownership, and wealth" he defines the two as followed; Wealth is defined as " the total value of a family’s financial resources minus all debts” (Shapiro, 2006); Income “represent the follow resources earned in a particular time” (Shapiro, 2006). The two definition have two very meaning but there often misused. Thomas also explains how “Income and …show more content…
The common belief believe the wealthiest people earn their wages. That is a common misconception because they never earn their wages they inherited it. The truth is that thought racism, white supremacy, and oppressive actions the wealth grew over the years. In the article, I will argue how the wealth gap increases through social institutional and systemic racism. In the article, "Race, Homeownership, and wealth" Thomas explains how systemic racism correlates with the wealth gap. For instance, mention early how wealth is what you owned. Thomas explains how “Wealth, then, is a particular kind of money utilized to launch social mobility, create opportunities, and status, or pass along advantages to one’s children” (Shapiro, 2006). This allows for saving in retirement, safer neighborhood and supporting their children’s college. Wealth is a tool for social mobility. This explains and demonstrates that you are born into becoming rich. This also mean that they have a financial cushion when a finical crisis happen like the great recession. This stems from white privilege only certain individuals were give opportunities just how wealth gives opportunity. The wealth gap starts on which individuals are privileged enough to …show more content…
In the article, Double Divide, by Meizhu Lui explains how the government has taken land from the Native Americans. Native Americans like African Americans have been groups subjected to crucial harmful acts by the government. For instance the Homestead Act. This Act allowed for land to be transferred to whites from Native Americans. It gave 160 acres of land to farms from Native Americans for free. Native Americans were kicked out their land and forced to move cruelly by the government. After the Homestead Act of 1862 came the dawns Act of 1887. This act not only transfer acres of land to whites but it forces Native Americans to assimilate to western culture. This erases their identity and culture by forcing them to acclimate. In conclusion, the land has been transferring over white from Native Americans in a span of 200 years. Native Americans remain on the poorest minority in the United States and it no thanks to the U.S government. The systemic racism that Native Americans have faced over the years has not only taken their wealth but, their identity as well. Native American did not have a chance in building wealth their land was always given away by the U.S government. Lui also explains how the racial wealth divides increase as with the government policies that benefited white families. The homeowner loan corporation in 1933 was created so that people will

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