Compared to white people:
*Black-owned homes devalued 23%
*Black-owned property taxes 13% higher
*Bank fees 2x higher for black customers
*Black-owned biz closed at twice the rate in pandemic
*Black people w/ NO criminal record earn $10k less than white people w/ criminal record
Sources on all that
1. Homes devalued…
2. Property taxes…
3. Bank fees…
4. Small business closures…
5. Pay/criminal record comparison…
*Black college grads have 50% less wealth than white high school dropouts
*Top 10 most-audited counties are 79% people of color
*Black-white homeowner gap is bigger now than 120 years ago
*Electoral college gives white people 16% more voting power than Black people
Sources on that:
1. College/high school dropout wealth gap:…

2. Most audited counties:…

3. Homeownership gap…

4. Electoral college…
*All Black Americans combined have half the wealth of richest 400 ppl
*White ppl get inheritance at 3x the rate of Black ppl
*Black college grads have $25k more in student debt than white grads
*Black families have $166k less wealth than white families, more than pre-Civil Rights
Sources on that
*Black wealth total:…
*Student loan debt:…
*Wealth gap:…
*Black-owned businesses get 3% of all biz loans
*Black unemployed workers get unemployment benefits at half the rate of white workers
*Black people own 1% of all stocks
*Net worth of older Millennials with a college degree: 10x higher for white grads than Black grads
Sources on that
*Black-owned business loans…
*Unemployment benefits gap…
*Black-owned stocks…
*Millennial college grad net worth comparison…
*Since the Civil War/slavery ended, Black families have gone from holding 0.5% of all wealth to 1.5%
*Black ppl are 4x more likely than white ppl to be arrested for marijuana
*Where it's legal, black people own 4% of cannabis businesses
*0% of Fortune 500 CEOs are black women
Sources on that
*Marijuana arrests…
*Cannabis business owners…
*Fortune 500 CEOs…
*Black wealth "growth"…
*Scooter startup Bird got more funding than all Black women startups combined last year
*Black sons of ppl in the richest 1% are arrested at same rate as white sons of ppl in poorest third
*20 years after college, white students have 5% of loan left vs 95% left for Black students
Sources on that
*Startup funding…
*Arrest rates by parents' wealth…
*Student loan payoff rate…
*Black students are 2.5x likelier than white students to be arrested at school after controlling for poverty
*1950: black men made 51 cents for every $1 white men made. Now: 51 cents
*Corporate stock buybacks/dividends in last 15 years benefited white ppl 72x more than Black ppl
Sources on that
*Student arrest rates…
*Stock buyback/dividend gap…
*Male income gap unchanged in 70 years:…
*Americans think Black people have 90% of the wealth white people do. It's actually 10%
*Black homeowners are still 5x more likely to be in old redlined areas, 50 years after redlining was outlawed
*Facial recognition is 100x more likely to misidentify black faces than white ones
Sources on that
*Wealth gap perception vs reality…
*Redlining still exists today…
*Facial recognition bias…
*37% Black families have $0 net worth, 2x rate of white families
*Under the post-WWII GI bill, 0.1% of homes went to Black vets
*Black Americans are 3x likelier than white ppl to be killed by police
*In 8 cities the rate of police killing Black men is higher than U.S. murder rate
Sources on that
*$0 net worth…
*GI Bill…
*Killed by police death rates…
*Police killing Black men vs. U.S. murder rate…
*Black-owned small biz were 3x less likely than white-owned biz to get PPP bailout
*Covid death rate is 2x higher for Black ppl than white ppl
*Historically-Black Howard U. grads pay $3,500 more for loans than similar NYU grads
*Min wage workers 2x likelier to be Black than white
Sources on that
*Covid death rate…
*Higher interest rates for Black people…
*Minimum wage worker disparity…
*PPP disparity…
*Black grads are 5x more likely than white grads to be in default on student loans…
*Black voters are 74% likelier than white voters to wait at least 30 minutes at the polls
whoops - broke the thread. Continues here
OK I'll stop there. These are just the stats I have compiled through my own research in the last year. Many people have much more information and are better-equipped to explain this and offer solutions.

But i think it's important for white people to talk about this.

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More from @DanPriceSeattle

9 Aug 20
There are a lot of easy and popular public policy wins we could go after right now

But we are all too hung up on hating the other side and the horse race to force our elected officials to do anything about it
Want examples? A small UBI, mental health care access, educational access including early childhood and before and after school care, shoring up social security, medicare, and medicaid, expansion of medicare to cover everyone who wants it,
immigration reform with guest worker programs and a path to citizenship, adoption reform to make adoption way easier and without sacrificing safety, ending mass incarceration, beefing up gun safety protections, police reform,
Read 6 tweets
30 Jul 20
A brief story of the huge wealth transfer quietly transforming America:

The small business recovery has plateaued. For 2 months, revenue has been down 15-20%, the same as the 2009 peak.

Basically small biz have settled in to a Great Recession 2.0

22% have already closed
(1/4) Image
So small businesses are being decimated. How are big corporations doing? Thriving.

The value of the 500 biggest companies is up 8% in the last year.
Zoom in to the 100 biggest (mostly tech) companies? Up 35%.

The bigger a company is, the better it can weather this storm.
(2/4) ImageImage
What effect has this had? Nearly a fourth of small business owners have lost their life savings this year.

Net worth gain this year for owners of:
Amazon: $87 billion
Tesla: $43B
Microsoft: $21B
Walmart: $15B
Google: $15B
Facebook: $10B
Oracle: $6B
Twitter/Square: $4B
Read 4 tweets
12 Jul 20
The brilliant 1st century jewish rabbi Jesus was executed at 33 years old because his message was threatening to the unjust power and wealth establishment at that time
He was asked about taxes and if it was theft -- He said "if Ceasars picture is on the money, how can it be theft for Ceasar to ask for a cut?"
Taxes are generally something the rich attack more than anyone else

It's no secret that avoiding taxes is one of the top priorities for many rich people -- They think it's beneficial to them to be able to use all public resources and infrastructure and not pay for it
Read 6 tweets
1 Jul 20
In March my company made news when our employees voluntarily took temporary 20% pay cuts to ensure 0 layoffs

Our situation has improved & I just announced to our employees that everyone will be paid back in full - at a personal cost of $1M. They saved our company and deserve it.
here's the backstory on the pay cuts…
let me adjust something here: the full cost to me is actually closer to $750k; I had miscalculated one of the figures and want to be transparent about that.

The backpay will be sent to employees as soon as next week as a separate paycheck.
Read 5 tweets
24 Jun 20
RIP Mikey

You taught me so much about life, taking things as they come, being in the moment. You were so kind and caring to me and the people I love. Image
You inspired countless others to adopt dogs

We didn’t meet until you were almost 8, but I feel so lucky we got almost 10 years together

Thanks for being such an amazing friend

I miss you so much and will think about you for the rest of my life Image
Read 21 tweets
16 Jun 20
A record number of companies are headed to bankruptcy. Most are doing massive layoffs and may not survive. How are there execs doing? A thread

Hertz: Gave execs $16M in bonuses, including $700k to its brand-new CEO. And it laid off two-thirds of employees…
JC Penney: Is bankrupt and just gave execs $6.5 million in bonuses, including $4.5 million for the CEO. Most of its 85,000 employees have been furloughed. It is $4.3 billion in debt.…
Chuck E Cheese: headed to bankruptcy, gave execs $3 million in bonuses, including $1.3 million to its CEO. It it also $1 billion in debt and pays $100M on interest alone on that debt. It furloughed most of its employees. It's owned by private equity…
Read 34 tweets

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