Youre a fucking idiot.
Over the course of 7 years, the Obama Administration has invested more than $4 billion in HBCUs, because these institutions are vital engines of economic growth and proven ladders of advancement for generations of African Americans.
www.ed.gov
Those who are Native American alone or in combination with other races measure as 4.86 million individuals, or
1.60 percent of the nation's entire population. The national poverty rate for Native Americans was at 25.4%
- Comparatively, Black households—who account for 13.4 percent of the U.S. population—held just 4 percent ($4.6 trillion) of total household wealth.
The COVID-19 pandemic has inflicted devastating effects on the U.S. economy, with job losses especially concentrated among women, minorities, and low-wage workers. Economists have described the uneven and unequal economic recovery from the COVID-19 recession as a “K-shaped” recovery...
www.brookings.edu
You are a fucking. IDIOT.
Black people hold $6 of assets for every $100 owned by Whites
White households account for 80.4% of real-estate holdings
The conclusion is sobering, but not surprising: For Black America, the wealth gap is pervasive.
Even in this era of Black Lives Matter, the coronavirus pandemic is worsening racial economic inequality. Many of the forces that have stunted Black wealth for generations -- among them slavery, segregation and institutionalized discrimination -- have been further exposed by the public-health crisis.
That’s the takeaway from data released by the Federal Reserve in June, which provides one of the first comprehensive looks at the racial dynamics of the U.S. economy as Covid-19 began forcing businesses to close and people to stay at home.
African Americans held only 1.6% of corporate stock and mutual-fund shares in the U.S. as of March 31 compared with almost 91.6% by White investors, who have gained from the roughly 45% rise in the S&P 500 since then.
Assets by Race/Ethnicity
Part of the gap in wealth holdings is their share of the population, which is 13.4% compared to 60.1% for non-Hispanic Whites. Further, White Americans are older on average which generally means they had more time to accumulate wealth.
Financial Disparity
But it also lies in systemic inequalities that have hindered Black Americans’ ability to accrue wealth and then pass it on to heirs.
Real estate is often considered one of the surest ways to do to that, with more than 70% of White households owning their own homes since the early 1990s. Less than half of Black families owned a home at the end of the first quarter.
Home-Ownership Gap
White Americans also hold a larger proportion of their assets in private businesses than Black Americans.
Where Assets Are Held
Vast differences in income have widened the wealth gap. More than a third of White households earned in excess of $100,000 per year in the first quarter -- a share twice as large as that for Black households.
High Incomes
The decline of unions has had a significant impact on the inequality, said economist Catherine Ruetschlin, an adjunct assistant professor at the University of Utah who has studied the racial wealth gap. The trend has reduced the bargaining power of workers, especially the Black middle class, since the 1970s.
Some of the barriers to asset growth for Black families began decades ago, according to Frank Paré, a financial planner and president of PF Wealth Management Group in Oakland, California.