The study found that between 1983 and 2013, Black household wealth only grew from $67,000 to $85,000. Latino household wealth went from $58,000 to $98,000, while White household wealth skyrocketed from $355,000 to $656,000.
If these rates continue, by 2043, the average wealth growth per year for Black households will be $765, for Latinos $2,254, and for Whites, $18,368.
Dedrick Asante-Muhammad,Director of the Racial Wealth Divide Project at CFED, said of these disproportionate economic disparities: “To make it even worse, it’s 228 years to even catch up to where Whites are today.
“In 2043 when minorities will be the majority, that wealth disparity will be a million dollars. We’re going in the wrong direction.
“We are not on a path toward racial economic equality, we’re on a path to growing inequality as the country is becoming more and more people of color.” Asante-Muhammad added, “That’s going to be a severe problem for the national economy.”
Emanuel Nieves told NewsOne Now guest host Joia Jefferson Nuri there are a number of “systematic barriers” that are limiting the ability of Latino and African-American families from building wealth.
Nieves cited employment disparities, income inequality, low rates of entrepreneurship, lack of access to capital and a lower return on investment in higher education as the main culprits halting wealth creation for minority families.
NewsOne Now panelist A’Shanti Gholar added equal pay to the list of barriers that prevent African-American and Latino families from building wealth. She said, “If you are a young Black woman coming out of college and you are immediately paid less” and existing public policies revolving around equal pay add on to the conundrum of wealth disparities.
Christopher Prudhome, President of Vote America Now, added the lack of investments in the financial markets as another barrier to wealth building in minority communities and the inability of many minority families to afford occupational licensing for certain professions as a stumbling block.
Prudehome said, “In certain states it costs $10,000, $12,000 to get certain occupational licenses.”
“We know that most Black communities and Black families cannot afford that type of school or education” to obtain the licenses for many high paying occupations. Prudehome added, “That is a major difference in entrepreneurship.”
This is Jaquavion Slaton, the 20-year-old who was was shot & killed by Fort Worth Police on Sunday. Community demanding release of body camera video, but FWPD hasn’t said when/if that will happen. #WFAApic.twitter.com/iakQyWrRCl
Continue reading 64 Black Men And Boys Killed By Police
64 Black Men And Boys Killed By Police
UPDATED: 9:54 a.m. EDT, August 14, 2019 --
Police shooting and killing Black males is all but a centuries-old American tradition among law enforcement in the U.S. But the fact that this apparent rite of police passage was still thriving in 2019 and expected to continue well into 2020 and beyond should give any American citizen pause as more and more names of Black males continue to be added to a growing list of victims with what seems like a new shooting every week.
READ MORE: Police Shootings And The Public Execution Of Black People
Other victims' names include, but certainly, aren't limited to: Tamir Rice; Botham Shem Jean; E.J. Bradford; and Michael Brown.
As NewsOne continues covering these shootings that so often go ignored by mainstream media, the below running list Black men and boys who have been shot and killed by police under suspicious circumstances can serve as a tragic reminder of the danger they face upon being born into a world of hate that branded them as suspects since birth.