By Christopher Ingraham Christopher Ingraham Reporter covering all things data Email Bio Follow March 14 at 9:21 AM Few data points more clearly illustrate how decades of discrimination affected black Americans than the racial wealth gap. As of 2016, the typical black family had a net worth of $17,100, roughly one-tenth the $171,000 accumulated by a white household, federal research shows.
But in February, research by the Federal Reserve Bank of Cleveland concluded that differences in black and white wealth can almost entirely be explained by disparities in black and white incomes. If confirmed, the finding could help lawmakers better understand which policies would be most effective at closing the racial wealth gap.
But in order to save money, you have to be bringing in enough income to cover all your expenses. And black families tend to earn much less than white ones: In 2016, for instance, the typical black family earned $35,400, while the typical white household brought in $61,200. Those differences persist even when you control for other factors, like education, that can have a significant effect on earnings.
One vivid illustration of this: If black and white incomes had been similar starting in 1962, their model shows, the black-white wealth gap would have all but disappeared by 2007. They found that tweaking other model parameters, like inheritances and investment composition, had a much smaller overall effect.
tanakajimha
Why is everyone upset over people that are wealthy? Trying to kill the American Dream of being wealthy? Sad
A NEW EXPLANATION,? I LOVE ALL YOU OVER EDUCATED GENIUSES WITH YOUR CHARTS AND FIGURES THE EXPLANATION IS SAME OLD ONE ITS ALWAYS BEEN 'THEY STILL DON'T WANT THE BOTTOM HALF OF THE PEOPLE.'TOO HAVE A DAMN THING' SO THEY DO ALL THEY CAN TOO KEEP IT THAT WAY.
I can't read this because don't even have a $1 to spare. My guess is because African Americans have WORST leaders that are primarily paid to manage, delude &keep true knowledge &thus wealth at bay? They copy White people who hold back talent with integrity to manage their own.
Could this have anything to do with the % of single earner households?
We don't need a new explanation, we know what the problem is. The country is full of racists and many of them are crafting policies that keep people beaten down.
bezos include in amazonprime
How on earth is this a new explanation
The Democrat Party. Simple.
Institutional welfare
Saved you a click:
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This is unsustainable. This is the poolulation of most small towns in America. This means a town is added every single day!!
Keep pushing wealth what goes around comes around
Were athletes part of this study?
WP race baiting - again.
It's pretty interesting how the wealth line drops at the end of a GOP Administration but always rises at the end of a DEM Administration.
A new explanation Have u ever heard of journalism?
China Police
Enjoy poverty’s lessons
Soy boys too the rescue after we find our way out of mommies basement
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