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You want to know why black people remain in the streets? Why there is so much destructive anger tht Cotton & Trump want to put down with US military force, read this absolutely devastating @washingtonpost piece. More than half of black Americans unemployed washingtonpost.com/business/2020/…
“The historical data reveal that no progress has been made in reducing income and wealth inequalities between black and white households over the past 70 years," wrote economists Moritz Kuhn, Moritz Schularick and Ulrike I. Steins in analysis of U.S. incomes/wealth since WW II.
MY GOD. "You would have to combine the net worth of 11.5 black households to get the net worth of a typical white U.S. household."
Higher education has long been touted as a ticket to the middle class, but for black Americans that hasn’t been as true as one might hope.The typical black household headed by someone with an advanced degree has less wealth than a white household with only a high school diploma.
"A white household whose head has only a high school diploma has almost ten times the wealth of a black family with the same education. The fact that black families start off with so much less wealth makes it’s difficult to catch up, research has found."
This is absolutely horrifying. I have no words. "The latest Labor Department figures, from April, show that 48.8 percent of black adults were employed, tying two months in the early 1980s for the worst rate on record."
"It’s a similar story among black businesses. An analysis of Labor Department data by University of California, Santa Cruz found more than 2 out of 5 black small businesses have been forced to shutter during the pandemic -- well over twice the rate of white businesses."
THIS IS IMMORAL. "More than 1 in 5 black families report they often or sometimes don’t have enough food -- more than three times the rate for white families. Black families are also almost four times as likely as whites to report they missed a mortgage payment during the crisis."
Black Americans are THE only group who earn less than they did in 2000.
Whew, and this. “The black population was penniless to deal with this health crisis,” said Hamilton. “The little wealth black people had is typically tied up in their home."
"There are no actions that black Americans can take unilaterally that will have much of an effect on reducing the racial wealth gap,” concluded a 2018 report on the wealth gap from the Samuel DuBois Cook Center on Social Equity.
If the progressive platforms that come out of these protests do not contain a clear call for reparations, it will be hard to take them seriously.
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