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(CNBC)   Black families in the US have 90% less wealth than white families. And that gap has worsened over time   (cnbc.com) divider line
    More: Fail, White people, treatment of black Americans, Black people, median black family, Race, white Americans, White American, black CEOs of Fortune  
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463 clicks; posted to Business » and Politics » on 03 Jul 2020 at 12:26 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-07-03 12:18:27 PM  
Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.
 
2020-07-03 12:41:08 PM  
All the wealth gaps are getting worse.
The blacks are getting a shrinking piece of the shrinking working class pie.
And we all know that it's mathematically impossible for them to do so forever - the poor can only get so much poorer.
So - when do we do something about it? We can't allow fewer and fewer people to control more and more of the wealth indefinitely.
 
2020-07-03 12:41:11 PM  
In 2016, white families reported having $171,000 in wealth, or about 10 times the wealth black families reported having ($17,400)

These numbers don't ring true to me. $17,400 is an enviable nest egg, even if it means that it could be wiped away by a serious illness. It seems that most people aren't even in that boat.
 
2020-07-03 12:42:19 PM  
But a black man was President.

Ergo we beat racism.

Yay us.
 
2020-07-03 12:46:12 PM  

We Ate the Necco Wafers: In 2016, white families reported having $171,000 in wealth, or about 10 times the wealth black families reported having ($17,400)

These numbers don't ring true to me. $17,400 is an enviable nest egg, even if it means that it could be wiped away by a serious illness. It seems that most people aren't even in that boat.


We're counting housing wealth. If your family has a mortgage with equity in it, that's wealth.
 
2020-07-03 12:56:48 PM  

jso2897: All the wealth gaps are getting worse.
The blacks are getting a shrinking piece of the shrinking working class pie.
And we all know that it's mathematically impossible for them to do so forever - the poor can only get so much poorer.
So - when do we do something about it? We can't allow fewer and fewer people to control more and more of the wealth indefinitely.


The truth is, we can and have allowed that very thing up until now, and I don't see an end date. Which makes it indefinitely.

And if we don't do something about it to correct it in a controlled manner; it will correct itself in an uncontrolled manner. (ie: disastrously). I see zero political urgency on either side to address this issue at a party level. (there are good pols like Sanders and Warren that speak on it often)

All man-made systems are subject to the laws of nature. And an imbalance suggests a vacuum, which the system itself will tolerate only so long. Hell, this virus may be the catalyst for that correction. Hope not, we'll see.
 
2020-07-03 1:16:03 PM  

pkjun: We Ate the Necco Wafers: In 2016, white families reported having $171,000 in wealth, or about 10 times the wealth black families reported having ($17,400)

These numbers don't ring true to me. $17,400 is an enviable nest egg, even if it means that it could be wiped away by a serious illness. It seems that most people aren't even in that boat.

We're counting housing wealth. If your family has a mortgage with equity in it, that's wealth.


If the net wealth in this country is positive, are we in a personal debt crisis like we're frequently told? The numbers don't add up. Most people live paycheck to paycheck.

Either there are outliers throwing off these averages (and it's unclear that it's an average or median, to be fair), or people have more money stashed away than we think. Frankly, I have to believe it is the former, because 6 months of salary in net worth is a very comfortable cushion that I don't think the majority of the people in this country possess.
 
2020-07-03 1:24:34 PM  

pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.


Your guilt is showing.
 
2020-07-03 1:24:41 PM  
How many are single parent households?
 
2020-07-03 2:02:40 PM  
Household is a fairly meaningless term... If my wife and I each have X and then we split up there are now two households with X/2.

https://www.bls.gov/opub/mlr/2013/art​i​cle/marriage-and-divorce-patterns-by-g​ender-race-and-educational-attainment.​htm

Blacks get married at much lower rates than whites, but get divorced at about the same rate. This is, undoubtedly, a huge factor in these numbers.
 
2020-07-03 2:19:06 PM  
those study exclude billionaires ? because they already own more then half the country if you want to compare average working white and black people including those rich fark wont paint the proper picture.
 
2020-07-03 2:25:15 PM  

We Ate the Necco Wafers: In 2016, white families reported having $171,000 in wealth, or about 10 times the wealth black families reported having ($17,400)

These numbers don't ring true to me. $17,400 is an enviable nest egg, even if it means that it could be wiped away by a serious illness. It seems that most people aren't even in that boat.


I don't doubt there is a huge wealth disparity between white and Black families, but the number crunching can be misleading.  If you take me and Jeff Bezos, together our average net worth is $83 billion.  Using medians helps a little, but not a lot.
 
2020-07-03 2:55:29 PM  

8 inches: pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.

Your guilt is showing.


Explain to the rest of us why you think this is a retort.
 
2020-07-03 3:03:01 PM  
That 10% seems familiar.   Is that from Two Corinthians or some where else in the collection?
 
2020-07-03 3:04:14 PM  

gnosis301: 8 inches: pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.

Your guilt is showing.

Explain to the rest of us why you think this is a retort.


Excuses for failings doesn't solve inequalities.

And neither does reverse racism.

/The rest of us understand that.  You...not so much I'm guessing.
 
2020-07-03 3:25:43 PM  

8 inches: gnosis301: 8 inches: pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.

Your guilt is showing.

Explain to the rest of us why you think this is a retort.

Excuses for failings doesn't solve inequalities.

And neither does reverse racism.

/The rest of us understand that.  You...not so much I'm guessing.


You mean like how you're making excuses for a failing system?
 
2020-07-03 3:26:23 PM  
Was the "obvious" tag was in the unemployment line?
 
2020-07-03 3:38:47 PM  

SafetyThird: How many are single parent households?


mchb.hrsa.govView Full Size


Having two incomes presents the opportunity to generate more wealth than a single income.

Having a single income and another adult to raise the children presents the opportunity to generate more wealth than only having a single person to generate income and then have to pay for childcare.

Now, the correlation of the above graph to Hispanic wealth doesn't seem to mesh, until you take into account that immigration from low wealth Hispanics is fueling the growth of that portion of the population.  If you could hold that population relatively static from an immigration standpoint like it is for folks who are African-American or White, you'd see their wealth numbers start to improve.

Fact is that a two parent household is better for raising kids, better for generating wealth, better for retaining wealth, and better for setting up your children to generate wealth.

Along the way, the media and entertainment biz, in conjunction with the left, decided to wage war on families, and it managed to do the most damage among the populations that needed the family structure the most.

Gotta love the portrayal of single moms in the media, as being self sufficient and everything is great...as opposed to the reality of being stretched thin, barely keeping their heads above water, and having a boyfriend who isn't all that interested in completing someone else's saved game.
 
2020-07-03 3:44:24 PM  
We could solve this with forced borgification.  Make all people a part of the collective.  One singular consciousness.  No separate ideas.  No races.  No genders.  Just Borg.

Problem solved.

And not the Borg with a queen retcon.  Original style.
 
2020-07-03 3:59:47 PM  
So they can't just buy more money?  Weird.
 
2020-07-03 4:11:07 PM  

pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.


Please define "deserve."

Also, if something is unjust, why would your moral requirement to fix it depend on the circumstances of your birth, or whether you "deserved" them?
 
2020-07-03 4:13:54 PM  

8 inches: pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.

Your guilt is showing.


Our economy is entirely dependent on stealing from the rest of the world. Before doing that we stole from the people who lived here and the people we forcefully brought here. We benefit from hundreds of years of this behavior. Should we not feel guilty? Should we not feel ashamed that we are hypocrites who steal and have stolen from so many others and point back at them and tell them to pull themselves up by their bootstraps?

If you ignore this reality in capitalism - that there must be losers for there to be winners, and the losers vastly outnumber the winners, and that the winners exploit the losers with amazing cruelty - then you are a good german and nothing more.
 
2020-07-03 4:20:03 PM  
The Cleveland Fed released a study a last year - the initial conditions drop off fairly quickly as factors in the wealth gap.  It's not entirely due to income gaps, but... it's mostly due to income gaps.

https://www.clevelandfed.org/newsroom​-​and-events/publications/economic-comme​ntary/2019-economic-commentaries/ec-20​1903-what-is-behind-the-persistence-of​-the-racial-wealth-gap.aspx

That's theoretical modeling - I can't help but wonder how much financial literacy has an impact.  Like, I grew up with a dad that dragged me against my will to things like car purchases, estate planning meetings, home closings, etc.  I balked at the time, but I also entered adulthood understanding what things like compound interest and escrow accounts were.  

I'm a white guy living in an area that has a large affluent black population.  Many of them are the first generation to reach that level of income. (I.e. low-to-mid 100Ks for the household).  The number of BMWs, Lexuses, Land Rovers, Infinities, and Mercedes Benzes, almost always with black drivers is stunning, and almost always late models.  The white folks (at almost the same income levels)  tend to drive Hondas, Toyotas, Subarus, the occasional pickup or domestic... but rarely luxury cars, and often a few years old.

Perhaps the black luxury car owners have acquired such magnificent levels of wealth that they're unphased by the cost of buying or leasing new luxury cars every few years, but somehow I doubt it.  I can't imagine just going and buying a luxury car - we're far from rich, but well north of the white median in the. I would feel foolish seeing it every day, and thinking about how it could be intergenerational wealth that I could pass on to my kids to help them pursue their dreams, how it could be security if my life somehow hits the skids, etc.  I'm sure some of it due to family influences; there's a tacky "ick" factor with tacky, gaudy displays of luxury goods.  I somehow doubt black families (or white families - I see you, $50,000 pickup dude) who didn't grow up in a home where building wealth over faux displays of luxury would have that same gnawing guilt.

(Note - the above isn't to say that "those people are responsible for their predicament," but rather to look at all the facets that come together to retard the growth of black intergenerational wealth)
 
2020-07-03 4:24:11 PM  

Biohazard Banana Suit: If you ignore this reality in capitalism - that there must be losers for there to be winners, and the losers vastly outnumber the winners, and that the winners exploit the losers with amazing cruelty - then you are a good german and nothing more.


I think that drinking all that bleach based on Trump's medical advice has affected your brain.
 
2020-07-03 4:27:00 PM  
Not to worry.
This will all change once they start playing the black National Anthem at football games.
 
2020-07-03 4:27:40 PM  

BMFPitt: Biohazard Banana Suit: If you ignore this reality in capitalism - that there must be losers for there to be winners, and the losers vastly outnumber the winners, and that the winners exploit the losers with amazing cruelty - then you are a good german and nothing more.

I think that drinking all that bleach based on Trump's medical advice has affected your brain.


Yeah I drank some bleach and it made me a revolutionary anti-capitalist.
 
2020-07-03 4:35:02 PM  
Here we see a shocking example of idiocy in a species, as poor white people and poor black people fight each other, while billionaires suck all of the wealth out of both people.  Look at this fellow here, strutting around figuring he's rich because he has poorer neighbors, despite both people being one medical bill away from homelessness.

/you read this in a bbc nature documentary voice
 
2020-07-03 4:46:51 PM  

Biohazard Banana Suit: 8 inches: pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.

Your guilt is showing.

Our economy is entirely dependent on stealing from the rest of the world. Before doing that we stole from the people who lived here and the people we forcefully brought here. We benefit from hundreds of years of this behavior. Should we not feel guilty? Should we not feel ashamed that we are hypocrites who steal and have stolen from so many others and point back at them and tell them to pull themselves up by their bootstraps?

If you ignore this reality in capitalism - that there must be losers for there to be winners, and the losers vastly outnumber the winners, and that the winners exploit the losers with amazing cruelty - then you are a good german and nothing more.


"Stole".

LOL
 
2020-07-03 4:59:33 PM  
gar1013:
Along the way, the media and entertainment biz, in conjunction with the left, decided to wage war on families, and it managed to do the most damage among the populations that needed the family structure the most.


Portraying something is not waging war on the opposite.

Your victim complex is showing, and you're ignoring a whole host of other factors. Like police targeting black communities, arresting fathers, and even murdering them. But that doesn't fit your victim complex narrative, does it?

Nope, must be that evil media and those evil Leftists waging war on you by portraying an upper middle-class woman as being capable of doing two things at once.

Never mind the plenty of single moms depicted as struggling, nope. Ignore that, like you ignore everything outside of that one cherry-picked fact.
 
2020-07-03 5:14:36 PM  
I am so sick of blacks acting like victims.  When you are born you are worth the same as any other baby.  The money I have is from hard work, not because I was born white or male.  If someone is poor its because they made bad choices, not because of racism.  The problem is the black community never wants to take any responsibility for their actions.  It's always *someone elses* fault.  It is never their fault.
 
2020-07-03 5:21:08 PM  

goshes: I am so sick of blacks acting like victims.  When you are born you are worth the same as any other baby.  The money I have is from hard work, not because I was born white or male.  If someone is poor its because they made bad choices, not because of racism.  The problem is the black community never wants to take any responsibility for their actions.  It's always *someone elses* fault.  It is never their fault.


Hey yeah cool, this is definitely how things go in out society with a 100% inheritance tax, schools funded by the Federal government with no local funding disparities or redlining, free college, universal single payer healthcare and no private education.

Well technically I suppose our society does maybe fall short of that equality in a few ways but I'm sure that given your commitment to equal opportunity, you'll fully agree with me that we need to implement all of those reforms immediately so that every baby has the same shot in life.
 
2020-07-03 5:27:43 PM  

goshes: I am so sick of blacks acting like victims.  When you are born you are worth the same as any other baby.  The money I have is from hard work, not because I was born white or male.  If someone is poor its because they made bad choices, not because of racism.  The problem is the black community never wants to take any responsibility for their actions.  It's always *someone elses* fault.  It is never their fault.


I know.  They needed to work hard to come out of a rich vagina like Donald Trump did.  Or buy more money like Mitt Romney did.
 
2020-07-03 5:51:09 PM  
Oh, so just because up until the 60s we excluded them from universities that their own tax dollars paid for, they're like "Boohoo, we were unfairly excluded from participating in society."

Speaking as a libertarian, I'm fine with it.
 
2020-07-03 5:56:57 PM  

goshes: I am so sick of blacks acting like victims.  When you are born you are worth the same as any other baby.  The money I have is from hard work, not because I was born white or male.  If someone is poor its because they made bad choices, not because of racism.  The problem is the black community never wants to take any responsibility for their actions.  It's always *someone elses* fault.  It is never their fault.


Who is voting this post Smart?

It is juvenile, small minded, and lacks depth or nuance. It is the opposite of smart.
 
2020-07-03 6:34:35 PM  

Telos: gar1013:
Along the way, the media and entertainment biz, in conjunction with the left, decided to wage war on families, and it managed to do the most damage among the populations that needed the family structure the most.


Portraying something is not waging war on the opposite.

Your victim complex is showing, and you're ignoring a whole host of other factors. Like police targeting black communities, arresting fathers, and even murdering them. But that doesn't fit your victim complex narrative, does it?

Nope, must be that evil media and those evil Leftists waging war on you by portraying an upper middle-class woman as being capable of doing two things at once.

Never mind the plenty of single moms depicted as struggling, nope. Ignore that, like you ignore everything outside of that one cherry-picked fact.


Hey, you know that show with the dad who's a bumbling idiot, and nobody in the family seems to respect him?

Am I not being specific enough? Oh yeah, because that's like most of them.

Hey, you know the Disney movie where the father is rarely present, or if he is, he's emotionally distant...or maybe he's okay but BAM now he's dead?

There are two shows I can think of that were big hits that showed a family where the husband and wife were good role models:  Good Times and The Cosby Show.

The guy who played the dad quit Good Times out of frustration due to the fact the show wanted to focus on JJ's buffoonery. We all know what happened with Bill Cosby - although even without the charges, he had people working to undermine the example he was trying to set via his public persona.
 
2020-07-03 6:40:22 PM  

pkjun: goshes: I am so sick of blacks acting like victims.  When you are born you are worth the same as any other baby.  The money I have is from hard work, not because I was born white or male.  If someone is poor its because they made bad choices, not because of racism.  The problem is the black community never wants to take any responsibility for their actions.  It's always *someone elses* fault.  It is never their fault.

Hey yeah cool, this is definitely how things go in out society with a 100% inheritance tax, schools funded by the Federal government with no local funding disparities or redlining, free college, universal single payer healthcare and no private education.

Well technically I suppose our society does maybe fall short of that equality in a few ways but I'm sure that given your commitment to equal opportunity, you'll fully agree with me that we need to implement all of those reforms immediately so that every baby has the same shot in life.


Why should there be an inheritance tax?

Why should my family be punished for not squandering everything, just because you have parents that didn't care enough to work hard and sacrifice to make a better life for you?

My dad made it through college and grad school without help from his father, who was basically broke. He did so through ROTC and working, and then served in the armed forces during a period where his chance of dying to fight a useless war in Southeast Asia was extremely high.

His hobbies include work and not spending money on anything that doesn't appreciate in value.

Why should the 80 hour weeks he put in, and the luxuries sacrificed along the way, go to benefit you?  He paid his taxes, so you already got your pound of flesh.
 
2020-07-03 6:49:41 PM  

gar1013: Why should there be an inheritance tax?


Because every other transaction one can engage in other than donating to charity is taxed, so inheritance should not be different.  In terms of taxing without negative externalities, inheritance taxes are ideal.

Now 100% is obviously stupid, but at a bare minimum it should be the same rate as income tax after a reasonable minimum threshold.
 
2020-07-03 7:06:36 PM  

gar1013: pkjun: goshes: I am so sick of blacks acting like victims.  When you are born you are worth the same as any other baby.  The money I have is from hard work, not because I was born white or male.  If someone is poor its because they made bad choices, not because of racism.  The problem is the black community never wants to take any responsibility for their actions.  It's always *someone elses* fault.  It is never their fault.

Hey yeah cool, this is definitely how things go in out society with a 100% inheritance tax, schools funded by the Federal government with no local funding disparities or redlining, free college, universal single payer healthcare and no private education.

Well technically I suppose our society does maybe fall short of that equality in a few ways but I'm sure that given your commitment to equal opportunity, you'll fully agree with me that we need to implement all of those reforms immediately so that every baby has the same shot in life.

Why should there be an inheritance tax?

Why should my family be punished for not squandering everything, just because you have parents that didn't care enough to work hard and sacrifice to make a better life for you?

My dad made it through college and grad school without help from his father, who was basically broke. He did so through ROTC and working, and then served in the armed forces during a period where his chance of dying to fight a useless war in Southeast Asia was extremely high.

His hobbies include work and not spending money on anything that doesn't appreciate in value.

Why should the 80 hour weeks he put in, and the luxuries sacrificed along the way, go to benefit you?  He paid his taxes, so you already got your pound of flesh.


I dunno man I'm not the one claiming all babies enter the world with the same wealth. If that's how the world should work, one way to make that happen would be to prevent lazy-ass babies from inheriting money that other people earned.

/Don't worry bout me, I'm fine, I don't need your daddy's money
//But then again you wouldn't catch me dead bragging about how hardworking my daddy is online
 
2020-07-03 7:32:48 PM  

We Ate the Necco Wafers: goshes: I am so sick of blacks acting like victims.  When you are born you are worth the same as any other baby.  The money I have is from hard work, not because I was born white or male.  If someone is poor its because they made bad choices, not because of racism.  The problem is the black community never wants to take any responsibility for their actions.  It's always *someone elses* fault.  It is never their fault.

Who is voting this post Smart?

It is juvenile, small minded, and lacks depth or nuance. It is the opposite of smart.


I thought it was parody.
 
2020-07-03 7:52:05 PM  

gar1013: Why should there be an inheritance tax?


One word. Trump

Without Daddy's money, he wouldn't have been president.
 
2020-07-03 8:03:07 PM  

jso2897: I thought it was parody.


I thought Trump was parody too. Turns out I was terribly, horribly wrong.
 
2020-07-03 8:57:36 PM  
if only they would learn to pull themselves up by their own bootstraps, like our fearless Prez
 
2020-07-03 9:06:58 PM  

dustman81: gar1013: Why should there be an inheritance tax?

One word. Trump

Without Daddy's money, he wouldn't have been president.


Without Bill Clinton, Hillary would have never been a Senator, Secretary of State or two time failed presidential candidate.
 
2020-07-03 9:22:06 PM  

We Ate the Necco Wafers: In 2016, white families reported having $171,000 in wealth, or about 10 times the wealth black families reported having ($17,400)

These numbers don't ring true to me. $17,400 is an enviable nest egg, even if it means that it could be wiped away by a serious illness. It seems that most people aren't even in that boat.


I thought white families were one $500 bill from having their asses out on the street, or is this a different panic monger thing?
 
2020-07-03 10:16:56 PM  

gar1013: dustman81: gar1013: Why should there be an inheritance tax?

One word. Trump

Without Daddy's money, he wouldn't have been president.

Without Bill Clinton, Hillary would have never been a Senator, Secretary of State or two time failed presidential candidate.


It's a good thing you got your daddy's money.
 
2020-07-03 10:35:43 PM  
I'd strongly recommend reading the 2017 Fed note this is based on if you're interested in the subject; it's better written and includes much more interesting nuance than TFA.

https://www.federalreserve.gov/econre​s​/notes/feds-notes/recent-trends-in-wea​lth-holding-by-race-and-ethnicity-evid​ence-from-the-survey-of-consumer-finan​ces-20170927.htm

/breaks out median and mean, debt/asset breakdown, differences in some factors correlated with wealth, etc.
 
2020-07-03 11:25:28 PM  
And it will get worse because the top 400 richest people are almost entirely white and almost entirely male.

But you get mad at your same-level coworker for making 2 cents per hour more than you do...
 
2020-07-03 11:30:01 PM  

Fano: We Ate the Necco Wafers: In 2016, white families reported having $171,000 in wealth, or about 10 times the wealth black families reported having ($17,400)

These numbers don't ring true to me. $17,400 is an enviable nest egg, even if it means that it could be wiped away by a serious illness. It seems that most people aren't even in that boat.

I thought white families were one $500 bill from having their asses out on the street, or is this a different panic monger thing?


They're probably averaging it...and the fact that white people make up the vast majority of the 1%, that skews things.

/Take away anyone who has more than a million in capital and you'll see equality.
//Of course, people who have that kind of money control the narrative, so it's either a deathly outrage or wildly overblown, depending on which bubble you're in.
 
2020-07-04 1:42:20 AM  

pkjun: Thank goodness there is nothing unfortunate in history that might explain where this gap came from, because that might imply that I didn't deserve the middle-class situation I was born into ... or, worse, that I might have some sort of moral burden to use those advantages to pursue justice. That would be intolerable. No, probably it's just that they lack the appropriate work ethic to be born into accumulated generational wealth.


my sister is a school teacher in a poor district in upstate NY, USA. when school was in session there would be a line of shiny Escalades dropping off children wearing designer clothing head to toe, expensive sneakers and bling. most of the parents are on the government dole, claiming unemployment. and they bring in awesome cash daily slinging dope on the streets. more people like you should get outside and see what the real world is about.
 
2020-07-04 3:39:19 AM  

IlGreven: They're probably averaging it...and the fact that white people make up the vast majority of the 1%, that skews things.

/Take away anyone who has more than a million in capital and you'll see equality.



Nope.

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