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The Average Black Family Would Need 228 Years To Build The Wealth Of A White Family Today

If current economic trends continue, the average black household will need 228 years to accumulate as much wealth as their white counterparts hold today. For the average Latino family, it will take 84 years. Absent significant policy interventions, or a seismic change in the American  People of color will never close the gap.

(Need more money)

Basically, wealth is the accumulation of resources, like stocks, bonds, real estate, and money 

Bottom line  Unless things change, the study predicts that in the next 30 years, the average white family’s net worth will grow by $18,000 per year, but growth for black and Hispanic households will be only $750 and $2,250 per year.

• Government spending on wealth-building has more than tripled since 1994 but mostly helps people who already have wealth
• 77 percent of the home mortgage tax deduction benefits households with annual incomes between $75,000 and $500,000
• Two-thirds of all public subsidies for retirement savings go to people whose incomes are in the top 20 percent

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You can email me: Faith Lane

Faithfocusedfinish@gmail.com

https://www.blogtalkradio.com/faithfocusedfinish/2020/02/12/the-average-black-family-would-need-228-years-to-build-the-wealth

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NATE DIED ON MARCH 15TH, 2011 AFTER SUFFERING MULTIPLE STROKES. HE WAS AN AWESOME GAME CHANGER AND INFLUENCER IN MAKING RAP AND HIP HOP A MAJOR PART OF AMERICAN MUSIC AND CULTURE! HE HAD A GIFT OF COMING UP WITH HOOKS THAT WE ALL STILL SING EVERYDAY! THANKS NATE DOGG FOR KEEPING THE VIBES-LIVE