The yawning wealth gap between black and white families is one of the starkest legacies of America’s history of racist social policymaking. As far as simple statistical comparisons go, I can’t recall any representations of it as striking as this chart from a recent report by the left-wing think tank Demos and the Institute on Assets and Social Policy at Brandeis University. As it shows, the median white household headed by a high-school dropout is wealthier today than the median black household headed by someone who went to college. The latter category includes those who at least attended a two- or four-year college, but not graduate degree holders.
That’s how much of a head start white Americans have. The median black American who pursues higher education is still poorer, judged by net worth, than a white person who never finished 12th grade.
What accounts for these differences then? One major factor is that middle-class white families have been able to accumulate some wealth over generations, whereas black families have been less able to do so thanks to policies like redlining that prevented them from buying homes and building equity. (This, as you might remember, was the crux Ta-Nehisi Coates’ case for reparations.)
“Many popular explanations for racial economic inequality overlook these deep roots, asserting that wealth disparities must be solely the result of individual life choices and personal achievements,” the authors write. “The misconception that personal responsibility accounts for the racial wealth gap is an obstacle to the policies that could effectively address racial disparities.”
In other words, people need to understand that even when black families make the “right” choices, they still end up behind.
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By Elliot Booker — 4 years agoBLACK FARMERS AND AGRICULTURIST ASSOCIATIONApril 5, 2016Eddie and Dorothy Wise’s farm was purchased by a neighboring white farmer for $260,000 at a public, forced, auction yesterday. The farm was sold as part of a foreclosure despite an established pattern of discrimination by local county FSA agents, a global expression of concern, a concerted effort of local advocates, and a Color of Change petition of 30,000 signatures calling for a halt to the foreclosure. We are heartsick, emotionally exhausted, and angry at this callous disregard for the livelihood of one of our brothers and sisters and their family. We also find it morally reprehensible.This post isn’t meant to summarize all that has been going on with this tragedy. Read up on this page https://www.facebook.com/BFAA.org/ to learn more details. When you do, you’ll find a lot of support among not only the Black farming community, but other groups and individuals concerned with the disappearance of the family farmer in this country and around the world. You’ll also find a handful of folks who ask questions and wonder about the financial skills and practices of the Wises. We want to take a minute to address this latter group because they reveal a hidden iceberg of suspicion and doubt that is a handmaiden of white supremacy and oppression.For these folks, there is always suspicion that Black folks are trying to pull a fast one, to get over, or otherwise get something undeserved and unearned through hard work. A damning criticism indeed in our society of believers in the fabled Horatio Alger story of upward mobility. In that story, success is earned through hard work, thrift, and discipline, a set of morally imbued characteristics that suggest character and virtue. So, by extension, those who suffer, are poor or otherwise not successful, are seen somehow as moral failures. They have, in this narrative, a character flaw, a defect. They are, somehow, morally deficient. The problem is, the characters in Horatio Alger’s novels were inventions just like the myth of the American Dream. Myths are powerful things, though, and serve important functions. They provide guidance just as frequently as they conceal truth. They don’t, however, describe reality. To view the Wise case as a personal failing is to ignore historical evidence, subscribe to a false notion of individualism, and support racializing views that reinforce white supremacy.Fact. Financial hardships and bailouts are everyday occurrences in modern agriculture, finance, and industry – recall the bank bailouts of 2009. Icons of success receive innumerable forms of assistance that directly contradict their self-proclaimed Horatio Alger narratives.Fact. Eddie and Dorothy Wise, like Black people across the US, were treated unfairly in matters directly affecting the securing and operating of their farm.To ask questions about why they missed payments, incurred so much debt, weren’t able to market their goods, etc. is to completely miss the point. Farmers and business people everywhere have financial struggles, only non-white folks also experience discrimination. The burdens of small producers everywhere are daunting. Pile on discrimination and it is impossible.But even worse, to ask these questions is to embrace a view of Black Americans that relies on racial stereotypes, fears, and a wholly imaginary white pathway. That white pathway, like the Horatio Alger stories, says that “I’m successful because of my effort. I didn’t get any help. I made tough choices.” It’s harmful and inaccurate to believe that story because it is applied in the reverse to the unsuccessful, impoverished, or destitute. Without knowing anything about others, it is too easy to simply say that those who aren’t successful must not be doing something right. They must not be working hard enough, be thrifty enough, or have enough personal character. These beliefs are factually unsupported, but mythically powerful things. That is, there simply isn’t evidence to support that the impoverished are lazy, unmotivated, or otherwise deficient, let alone morally deficient. Even more, it is harmful to assert the validity of the white pathway because it simply isn’t true. Hard work is great, but it isn’t the sole or primary purview of white people. It simply doesn’t explain the differences in poverty rates by race. In fact, there are many more poor white people than poor people of color in the US. The rates are higher for non-whites, but the numbers are clearly higher for whites. Rates of poverty, interestingly, are historically higher in rural areas than urban areas. These rural areas are overwhelmingly white. So, to impugn Eddie and Dorothy Wise’s financial practices is to enlist a host of familiar stereotypes, ignore the profound history of racial inequality, and reinforce a mythical imaginary of white success.The white neighbor who bought Eddie’s farm has had his eye on that property since 1993. Unsurprisingly he wanted to acquire neighboring property. During the farm crisis of the 1980s it was largely seen as bad form to try and purchase a struggling neighbor’s place. Why? Because, as members of a community, folks were to exercise restraint when faced with opportunities that came through the suffering of others. These values stemmed from a lot of things including the social bonds that emerge among community members, the engagement in shared forms of work, and, for many, deeply held Christian beliefs. The purchase of your struggling neighbor’s farm might happen, but only under extraordinary circumstances. To actively pursue it represented a moral failure.At the sale of the Wise farm there were two bidders. It turns out they were working together. One of the bidders was Eddie and Dorothy’s neighbor, the other had no intention of buying the property and simply served to help get the price to a “fair” level. Under normal foreclosure proceedings the person losing their farm typically has around 10 days to make a counter-offer and save their place. These types of protections are commonly seen as a way to give every opportunity to the landowner to stay on their place. This was not an option at this sale. Whether this is legal or not is under investigation. Regardless, to treat your neighbor as an opportunity rather than your responsibility is far from Christian. To aggressively and strategically maneuver to buy your struggling neighbor’s farm is a service to self, not a service to others.Selling the Wise farm illuminates the structural, racial, dimensions of inequality in this country. Buying Eddie and Dorothy Wise’s farm brings into clear view the moral failure of the white, Christian, community.Post Views: 664
By Elliot Booker — 3 years ago
Oppressors are never under any obligation to give justice and equality to those who are oppressed.
The master has no moral justification to the slave because a slave is chattel.
Sadly, shamefully, and sinfully, we are living in these so-called ‘United States of America’ whereby people – especially African-Americans –are still raising the question to politicians and political parties, “What about the Black Agenda?”
Why do we keep raising this question every election cycle to people who don’t really care about the Black Agenda? To be blunt about it, it’s stupid, insane, and irrational.
In asking the question of political candidates about their solutions to decrease Black unemployment, Black poverty, and anything revolving around Black issues gives a direct as well as indirect signal to them as well as to masses of people that we cannot handle our own business. They are under no obligation to help us as long as they see a needy attitude.
Every four years, it’s sickening and disturbing to see Democratic candidates pandering Black people for a vote. They come to our churches, eat our food, take pictures, and suck up so that many people are brainwashed into believing a lie.
During these interactions, there’s little deep discussion about issues that impact masses of people.
There’s little deep discussion about their absence in neighborhoods and communities they fail to visit until it’s voting time.
Whenever African-Americans (definitely not all) become so comfortable in asking politicians and the government for a handout, progress and prosperity will never be made. Why? Because self-determination and self-expectation will be sidelined.
The success of any race and culture has to begin within. If there isn’t the desire to want better, do better, and expect better, a problem will always exist.
The challenge for African-Americans during this election year and future election years is to stop asking White people to address the Black Agenda. In a real sense, when we, as a people, learn to own, operate, and support our own entities, we will create opportunities for people to succeed. And when we learn to take care of our surroundings, we don’t have to worry about foolishness coming in.
While this is only a small step towards empowerment, the goal should be to do for self. It makes no sense to always keep asking the oppressors to help the oppressed.
It’s important to note here that I’m not categorizing all non-Black people as oppressors. I’m not saying all African-Americans are oppressed. But without a doubt, there are systems and institutions that are racist in nature.
The best way to eliminate this mindset is to fight it through political involvement, social interaction, and financial empowerment. Unless there’s a collective effort to want better, nothing will be done.
So what’s the agenda for Black America? Clean up our communities and neighborhoods. Create and support Black-owned businesses. Establish programs that will eliminate Black-on-Black crime.
Stop blaming White people and other non-Blacks for some of the ills that’s plaguing us as African-Americans. Get involved politically and not become party loyalists. Develop a liberating mindsets
The Black Agenda isn’t about asking others to do for us when in fact we can and should do for ourselves.
By: Dr. Sinclair Grey III
There are options:
“One Million Conscious Black Voters and Contributors” (OMCBV&C)
PLEASE JOIN http://www.iamoneofthemillion.com/Post Views: 343
By Elliot Booker — 2 years ago
By Steve Julal
More than half of all businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements, and attics are being transformed into the corporate headquarters of the newest entrepreneurs–home-based business people.
And, with technological advances in smartphones, tablets, and iPads as well as rising demand for “service-oriented” businesses, the opportunities seem to be endless.
Is a Home-Based Business Right for You?
Choosing a home business is like choosing a spouse or partner: Think carefully before starting the business. Instead of plunging right in, take the time to learn as much about the market for any product or service as you can. Before you invest any time, effort, or money take a few moments to answer the following questions:
- Can you describe in detail the business you plan on establishing?
- What will be your product or service?
- Is there a demand for your product or service?
- Can you identify the target market for your product or service?
- Do you have the talent and expertise needed to compete successfully?
Before you dive headfirst into a home-based business, it’s essential that you know why you are doing it and how you will do it. To achieve success your business must be based on something greater than a desire to be your own boss and involves an honest assessment of your own personality, an understanding of what’s involved, and a lot of hard work. You have to be willing to plan ahead and make improvements and adjustments along the way.
While there are no “best” or “right” reasons for starting a home-based business, it is vital to have a very clear idea of what you are getting into and why. Ask yourself these questions:
- Are you a self-starter?
- Can you stick to business if you’re working at home?
- Do you have the necessary self-discipline to maintain schedules?
- Can you deal with the isolation of working from home?
Working under the same roof that your family lives under may not prove to be as easy as it seems. It is important that you work in a professional environment. If at all possible, you should set up a separate office in your home. You must consider whether your home has space for a business and whether you can successfully run the business from your home. If so, you may qualify for a tax break called the home office deduction. For more information see the article, Do You Qualify for the Home Office Deduction? below.
Compliance with Laws and Regulations
A home-based business is subject to many of the same laws and regulations affecting other businesses, and you will be responsible for complying with them. There are some general areas to watch out for, but be sure to consult an attorney and your state department of labor to find out which laws and regulations will affect your business.
Be aware of your city’s zoning regulations. If your business operates in violation of them, you could be fined or closed down.
Restrictions on Certain Goods
Certain products may not be produced in the home. Most states outlaw home production of fireworks, drugs, poisons, sanitary or medical products, and toys. Some states also prohibit home-based businesses from making food, drink, or clothing.
Registration and Accounting Requirements
You may need the following:
- Work certificate or a license from the state (your business’s name may also need to be registered with the state)
- Sales tax number
- Separate business telephone
- Separate business bank account
If your business has employees, you are responsible for withholding income, social security, and Medicare taxes, as well as complying with minimum wage and employee health and safety laws.
Money fuels all businesses. With a little planning, you’ll find that you can avoid most financial difficulties. When drawing up a financial plan, don’t worry about using estimates. The process of thinking through these questions helps develop your business skills and leads to solid financial planning.
Estimating Start-Up Costs
To estimate your start-up costs include all initial expenses such as fees, licenses, permits, telephone deposit, tools, office equipment and promotional expenses.
In addition, business experts say you should not expect a profit for the first eight to ten months, so be sure to give yourself enough of a cushion if you need it.
Projecting Operating Expenses
Include salaries, utilities, office supplies, loan payments, taxes, legal services and insurance premiums, and don’t forget to include your normal living expenses. Your business must not only meet its own needs but make sure it meets yours as well.
It is essential that you know how to estimate your sales on a daily and monthly basis. From the sales estimates, you can develop projected income statements, break-even points, and cash-flow statements. Use your marketing research to estimate initial sales volume.
Determining Cash Flow
Working capital–not profits–pays your bills. Even though your assets may look great on the balance sheet, if your cash is tied up in receivables or equipment, your business is technically insolvent. In other words, you’re broke.
Make a list of all anticipated expenses and projected income for each week and month. If you see a cash-flow crisis developing, cut back on everything but the necessities.
If a home-based business is in your future, then a tax professional can help. Don’t hesitate to call if you need assistance setting up your business or making sure you have the proper documentation in place to satisfy the IRS.Post Views: 343