Racial Wealth Gap...

What about inheritance?
 
Reba said:
Interesting theory. Is there a graph for that? I'd be curious to see it.

Granted, maybe I don't know "many" white people but the ones I know aren't well off enough to pay for their kids' college without a lot of scholarship help, student loans, financial aid, and extra jobs. They weren't sending them to the Ivy League, either. :dunno:

I work at a college, and I see lots of poor kids attending.
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And those poor kids are racking up more debt than the ones coming from mid-upper mid class families, thus creating a disadvantage at the beginning of their career.
 
jillio said:
And don't forget the female plumber who should be making the same as the male plumber.
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That's fine with me. I thought the topic was "Racial Wealth Gap."
 
jillio said:
And those poor kids are racking up more debt than the ones coming from mid-upper mid class families, thus creating a disadvantage at the beginning of their career.
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The poor kids are all races. So what does that prove?
 
Reba said:
The poor kids are all races. So what does that prove?
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That all races of kids that are poor will start out with a decided disadvantage. However, that disadvantage becomes greater for the kids of a minority race, because they will face inequities in employment that white kids don't face.
 
Reba said:
For those who work at equivalent jobs, and regardless of race, correct?

That is, a black plumber would make the same dollar amount per hour as a white plumber.
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Eh? Is there any doubt?
We need to stop punishing those who do not go to college. That is what we are doing.
Many people simply are not college material, and we condemn them to a lifetime of poor pay. It the attitude that cleaning maids and grill cook deserve no more than minimum wage is what keeps our civilization from being better than it is.
 
jillio said:
That all races of kids that are poor will start out with a decided disadvantage. However, that disadvantage becomes greater for the kids of a minority race, because they will face inequities in employment that white kids don't face.
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Sigh . . . So poor kids of all races are poor kids.

Now, what are the inequities in employment, and how do we solve them?
 
Reba said:
Sigh . . . So poor kids of all races are poor kids.

Now, what are the inequities in employment, and how do we solve them?
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affirmative action? :dunno:
 
Daredevel7 said:
Thanks for the clarification, but I have already thought about this. In a way, it's actually worse just because of the extremely high net worth. Don't you think that in theory, the difference in median income should be about the same as in the net worth? Why is a white person more likely to own a home? People who have stable incomes are more likely to own a home, period.

My theory? Many white people come from a well off family who pays for their college (or simply help them out financially), allowing them to start their careers/lives debt-free. Thus they can easily buy a house after only a few years of working. Many poor people who DO try to get careers get into deep debt from college, and they simply cannot afford to own homes for a long time. This also explains why Asians net worth is lower even though their income is the highest of all.
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No, I don't think the difference between income should be the same as wealth. Wealth represents how a person use their income to generate more more value. So basically two people with identical incomes could have the opposite amount of wealth because one person chose to invest wisely, and another didn't.

IMO, it's the difference in education that shows why there's such a huge disparity.

I didn't bother with looking up for links to use as reference but historically Hispanic/Black people lags behind the Asians/Whites in college attendance and obtaining degrees. This is probably an indicator why many of the minorities don't attain jobs with better pay. Although the minorities still face another obstacle with clear evidence that racism exists in the job force/wage levels. Education also plays a part in how people manage their wealth. Educated people are more likely to use their money to generate wealth while uneducated people aren't.

So to sum it up, racism and education are probably the primary reason why there's such a huge disparity in wealth between the minorities and majorities.
 
Reba said:
Sigh . . . So poor kids of all races are poor kids.

Now, what are the inequities in employment, and how do we solve them?
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Are you telling me that you are not aware of inequities in employment opportunities that are in existence for the minorities?
 
Reba said:
I don't know. You tell me. What about inheritance?
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My family works and makes sure everyone gets their estates when they die. As a result, their wealth builds up. So, with that in mind, a lot of blacks don't have that.

I predict that Asians will catch up in a couple of generations.
 
Reba said:
We've had that for decades, so how could there still be a racial wealth gap if that were the solution?
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It takes decades to correct an inequity that has been in existence for centuries.
 
Reba said:
We've had that for decades, so how could there still be a racial wealth gap if that were the solution?
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Financial disparities were also in place for more than decades.
 
Beowulf said:
Eh? Is there any doubt?
We need to stop punishing those who do not go to college. That is what we are doing.
Many people simply are not college material, and we condemn them to a lifetime of poor pay. It the attitude that cleaning maids and grill cook deserve no more than minimum wage is what keeps our civilization from being better than it is.
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I disagree. People who don't attend college still can get skills that are highly valued. It's up to those people to obtain skills that will increase their earning potential. Maid/cooks don't usually require much skill to use, anyone could do those jobs which is why they get paid so low.

For example... a cook at a top restaurant would definitely earn more money than a cook at McDonald's despite having similar jobs.. Why? because the top restaurant requires more skill at cooking than the one at McDonald's. Anyone can be a cook for McDonald's but not any cook can work at a top restaurant.

Those without college degrees and low paying jobs aren't being punished. They simply didn't acquire or display skills to merit higher wages.
 
Warped said:
I disagree. People who don't attend college still can get skills that are highly valued. It's up to those people to obtain skills that will increase their earning potential. Maid/cooks don't usually require much skill to use, anyone could do those jobs which is why they get paid so low.

For example... a cook at a top restaurant would definitely earn more money than a cook at McDonald's despite having similar jobs.. Why? because the top restaurant requires more skill at cooking than the one at McDonald's. Anyone can be a cook for McDonald's but not any cook can work at a top restaurant.

Those without college degrees and low paying jobs aren't being punished. They simply didn't acquire or display skills to merit higher wages.
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There is still a huge inequity that punishes those who are not in skilled professions.

Society has a way of saying, "Look! This is what you need to be successful" and then devising ways to keep the minority population and the poor population from having the opportunities necessary to achieve that which they are told they must have.
 
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