Saturday, June 19, 2021

America - the Unequal Nation

 In 'The Black Tax: The Cost of Being Black in America', Shawn Rochester offers a statistical breakdown of the economic figures which shed light on slavery's legacy and the debilitating laws enacted during the grim Jim Crow era and the wealth gaps that have widened even more in recent decades.

"Around $50 trillion of economic resources and labor has not been paid to Black people since slavery..."

By the end of 2020, the homeownership rate for Black families stood around 44%, compared with 75% for white families.

A typical middle-class Black household a wealth amount of approximately $13,024 compared to a staggering average of $149,703.

In 1968, a typical middle-class black household had $6,674 in wealth compared with $70,786 for the typical middle-class white household, according to data adjusted for inflation. 

In 2016, the typical middle-class black household had $13,024 in wealth versus $149,703 for the median white household, an even larger gap in percentage terms.

Black households had $8,762 in cash or equivalent liquid assets, compared with $49,529 for white households in 2016.

The real reason why Juneteenth is a point of contention for the GOP -

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