Tags: black wealth | inequality | median net worth | obama

Median Black Family Is Worth $1,700 After the Obama Years

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Friday, 07 April 2017 02:04 PM Current | Bio | Archive

The Racial Wealth Gap is real and it's growing. In recent years, the calcification of wealth among the rich has only exaggerated the impact of our nation's sad historical legacy. Wealth in America is an asset that is clearly divided across racial, and class lines. We see it in everything from education to incarceration. In this video Attorney Antonio Moore details the growing financial consequence of race in America.

1) White American families own 90 percent of the wealth, with the top 10 percent of white homes controlling a staggering 65 percent of the nation's wealth.

2) Black American Households altogether possess only 2.6 percent of the national wealth, with the large majority of that small sliver in the hands of baby boomer retirees.

3) When you deduct depreciating assets like the family car, the middle black family of three is worth only $1,700.

4) The top 8 million white homes are worth $1.4 million dollars or more.

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Antonio Moore, an attorney based in Los Angeles, is one of the producers of the Emmy-nominated documentary "Freeway: Crack in the System." He has contributed pieces to the Grio, The Huffington Post, and Inequality.org on the topics of race, mass incarceration, and economics. Follow him on YouTube Channel Tonetalks. For more of his reports, Click Here Now.

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AntonioMoore
The Racial Wealth Gap is real and it's growing. In recent years, the calcification of wealth among the rich has only exaggerated the impact of our nation's sad historical legacy.
black wealth, inequality, median net worth, obama
223
2017-04-07
Friday, 07 April 2017 02:04 PM
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