Reply to "A Cheap, Race-Neutral Way to Close the Racial Wealth Gap..

Forum Index » Off-Topic

Reply to ""A Cheap, Race-Neutral Way to Close the Racial Wealth Gap.."

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]A white high school dropout earns more than a black college grad because institutions protect white mediocrity by deferring black opportunity.[/quote]

I don't believe this. [/quote]

I have heard this several times, and I don’t believe it either.  [/quote]
It is possible, but still anecdotal. It is possible if white kid dropout and go ahead and work for minimum wages and black kid drop out choose not to work at all; then the income of the white kid will be higher than black’s kid income.[/quote]

Do you trust Duke? 
https://socialequity.duke.edu/portfolio-item/what-we-get-wrong-about-closing-the-racial-wealth-gap/
[i]"At every level of educational attainment, the median wealth among black families is substantially lower than white families. White households with a bachelor’s degree or postgraduate education (such as with a Ph.D., MD, and JD) are more than three times as wealthy as black households with the same degree attainment.

Moreover, on average, [b]a black household with a college-educated head has less wealth than a white family whose head did not even obtain a high school diploma.[/b] It takes a postgraduate education for a black family to have comparable levels of wealth to a white household with some college education or an associate degree (Hamilton et al. 2015 and Meschede et al. (2017), who use the Panel Study of Income Dynamics)."[/i]

https://socialequity.duke.edu/wp-content/uploads/2019/10/what-we-get-wrong.pdf

Figure 1 on page 6. 
[img]https://i.ibb.co/6t93C84/figure1.png[/img]
[/quote]

That is wealth, not "earnings." The data on earnings suggest otherwise:

https://nces.ed.gov/pubs2010/2010015/figures/figure_29.asp

[/quote]

The combination of these two charts indicates that black families are even worse at saving money than white families (because we already know white families don't, and black income-wealth disparity is even higher).[/quote]

Nope. Black people save more than white people.

[i]“The finding advanced in peer reviewed articles in economic journals is clear: there is no evidence that black Americans have a lower savings rate than white Americans once household income is taken into account (Hamilton and Chiteji, 2013). For example, Maury Gittleman and Edward Wolff (2004) using data from the Panel Study on Income Dynamics (PSID), tracked the financial position of black and white families and found that,[b] once income is controlled, if anything, black families actually have a slightly higher savings rate than their white counterparts.[/b]
21
 
This mild savings rate advantage is indicative of even greater thriftiness among blacks, since they typically have more kin obligations to assist low-income relatives which, further reduces the ability to save (Chiteji and Hamilton 2002; and Heflin and Patillo 2006). If anything, it appears that blacks generally live more frugal lives than whites; a study conducted by the Institute on Assets and Social Policy using the 2013 Survey of Consumer Finances found that, at comparable levels of income, whites spend 1.3 times more than blacks (Traub et al.).”[/i]

https://socialequity.duke.edu/wp-content/uploads/2019/10/what-we-get-wrong.pdf

[/quote]

Then where did their wealth go? [/quote]

They never had it. Started with little to none. Made less. Couldn’t buy a home to build equity. Or bought a home in a less-desirable neighborhood with less equity. Little to pass down to kids.

They were left behind as white Americans went to college (GI Bill) and lived the American dream (redlining increases value of white neighborhoods). . 
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics