WASHINGTON WATCH: Wealth Gap Between Blacks And Whites Has Tripled

Tarhaka Amaana El Bey

Swimming in Debt Sadly: Wealth Gap Between Blacks and
Whites Has Tripled.

The wealth gap in America has been a persistent problem in this country since its founding. Over 400 years of slavery and a series of Jim Crow laws designed to restrict the accumulation of wealth and power has left the black community seeking to rebuild financially from it’s challenged past. To date, African American families have far more debt and far fewer assets than the typical white family in America.

During the recent recession, the wealth gap between blacks and whites nearly doubled, with whites having nearly 22 times as much wealth as African Americans. A new study from Brandeis University’s Institute on Assets and Social Policy says that the growing gap is part of a long-term trend in differences between wealth, debt and income levels between whites and blacks. According to the center, the wealth of whites has grown a great deal over the 27 years, while that of blacks has hardly grown at all: But there is much hope see opportunity for owning your own business go to http://www.newfreehelpgroup.com/.

In 2009, a representative survey of American households revealed that the median wealth of white families was $113,149 compared with $6,325 for Latino families and $5,677 for black families.
Looking at the same set of families over a 25-year period (1984-2009), our research offers key insight into how policy and the real, lived-experience of families in schools, communities, and at work affect wealth accumulation.Tracing the same households during that period, the total wealth gap between white and African-American families nearly triples, increasing from $85,000 in 1984 to $236,500 in 2009.

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