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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The PP who said “people find themselves there because of poor life choices” wins for saying the most ignorant, racist thing I could think of for this thread. Ignorant f*ck. [/quote]

That's ridiculous! Tons of people make poor life choices and it has nothing to do with race. [/quote]

PP, you're thinking backwards. Declaring that poverty is "because of poor life choices", along with the fact that income and assets are highly correlated with race, implicitly declares that racial groups can be characterized by their "poor life choices". The realities are so much more complicated. One simple example: Asians are far less likely than people of other races to enter the workforce without a college degree. Whites are about twice as likely and blacks and Hispanics are about 2.5 times as likely. If a young black or Hispanic adult enters the workforce without the advantage of a college (or advanced) degree, is that a good choice or a poor choice? Regardless, that decision sets the starting point for that person's working life. But also, the white person who enters the workforce without a college degree will ALREADY be paid a higher wage than the black or Hispanic person.

Other pps have mentioned the effect of historical policies on generational assets. White college educated families are more than three times as likely as black college educated families to receive inherited assets worth more than $10K (41% of whites, 13% of blacks). In fact, the AVERAGE inheritance received by those 41% of college educated white families is $150K, while the average inheritance of those 13% of black families is $40K.

So, taking 100 college educated white families and 100 college educated black families, the ration of the intergenerational transfer of wealth is $6.150M to $.520M. Or, for every dollar received by the black families, $11 are received by the white families. The receiving generation doesn't have to do ANYTHING to merit this transfer, well, other than to avoid seriously pissing off their parents. [/quote]

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