Wish that had applied to me. First generation to go to college and now part of 1% and supporting two sets of parents.


for being part of the 1%, you guys have terrible reading comprehension. The PP did not say EVERY white person relied on inter-generational transfer to boost wealth. It is taking the group as a whole that encompasses tens of millions of people.

No. I never said that I am representative of all caucasians. That was another poster. You should check your own reading comprehension.

http://thefederalist.com/2014/08/29/liberals-will-never-fulfill-dr-kings-dream-of-a-race-blind-society/

This is a good article (irrespective of the publication), that explains the factors that have effected, among other things, poverty in the AA community.

Anonymous wrote:I would say most (not all but most) DCUM'ers got half or more of their education paid for by their parents. That is intergenerational wealth transfer.

I also bet 5% of them got help with a mortgage or graduate degree.

Probably 10-20% of them will receive an inheritance when their parents die.

First, you are pulling numbers out of your butt with nothing to back them up.
Second, the DCUM population is not indicative of the rest of the country.

I would say most (not all but most) DCUM'ers got half or more of their education paid for by their parents. That is intergenerational wealth transfer.

I also bet 5% of them got help with a mortgage or graduate degree.

Probably 10-20% of them will receive an inheritance when their parents die.

Anonymous wrote:

Anonymous wrote:

Wealth is highly dependent for most people on intergenerational transfer.

You really believe that? Really? All white people have inheritances? Really? Wish somebody had told that to my grandparents.

Wish that had applied to me. First generation to go to college and now part of 1% and supporting two sets of parents.

for being part of the 1%, you guys have terrible reading comprehension. The PP did not say EVERY white person relied on inter-generational transfer to boost wealth. It is taking the group as a whole that encompasses tens of millions of people.

That's why you get the gap between asian-americans leading all in median income BUT behind on median wealth.

Anonymous wrote:

Anonymous wrote:You do understand that Aid to dependent Children encouraged women not to have men in the hosue?

Well, you are going to have a real problem defending this point because black women were not eligible for ADC until the 1960's. From 1935 until then it was a program only for single white women, as black women were expected to work.

Anonymous wrote:You do understand that Aid to dependent Children encouraged women not to have men in the hosue?

Well, you are going to have a real problem defending this point because black women were not eligible for ADC until the 1960's. From 1935 until then it was a program only for single white women, as black women were expected to work.

It's also wealth from real estate. Because of redlining, many black families were unable to move into neighborhoods that were upper middle class and were unable to build the same wealth. Also, in law school, I worked on inheritance during slavery. Slave masters were unable to leave anything to black people, even if they wanted to..such as their children.When they did, they were considered mentally incompetent and the will was changed.

Anonymous wrote:

Anonymous wrote:One of the main causes is unreported income. Blacks/Hispanics on average earn way more unreported income than whites. Some of it from illegal activities like drug dealing/trafficing, prostitution, no green card, etc. And some just from your typical legal but cash only type jobs. For many, there is no benefit to reporting their income.

WOW. you are extremely obtuse.

You can't be serious.

Anonymous wrote:Asians

huh?

Anonymous wrote:You do understand that Aid to dependent Children encouraged women not to have men in the hosue?

More like required.

Anonymous wrote:One of the main causes is unreported income. Blacks/Hispanics on average earn way more unreported income than whites. Some of it from illegal activities like drug dealing/trafficing, prostitution, no green card, etc. And some just from your typical legal but cash only type jobs. For many, there is no benefit to reporting their income.

WOW. you are extremely obtuse.

One of the main causes is unreported income. Blacks/Hispanics on average earn way more unreported income than whites. Some of it from illegal activities like drug dealing/trafficing, prostitution, no green card, etc. And some just from your typical legal but cash only type jobs. For many, there is no benefit to reporting their income.

You do understand that Aid to dependent Children encouraged women not to have men in the hosue?

Anonymous wrote:

Your timeline is wrong. The Moynihan report, which highlighted the troubling trend in single parent black families, predates the great society programs.

You do know that welfare predated the Great Society?

judt AFDC and unemployment really.