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America’s growing inequality is well-documented. Less discussed is its intersection with another of the country’s defining trends, growing diversity.

Racial disparities in wealth are vast. And addressing inequality now and in the years ahead, means thinking seriously about the racial wealth gap and the steps we can take to ameliorate it.

The idea of a property-owning democracy has long roots in American political thought. In their book, The Citizen's Share, Joseph R. Blasi, Richard B. Freeman and Douglas Kruse argue that the Founding Fathers wanted everyone (well, everyone who was white and male) to own a small slice of property. Both Madison and Washington praised the relatively equal distribution of property in the United States (compared with Europe). Thomas Jefferson wrote, "It is not too soon to provide by every possible means that as few as possible be without a little portion of land.

The idea of a property-owning democracy is no longer the reality in the United States. Edward Wolff finds that the wealthiest 10 percent own 90.9 percent of all stocks and mutual funds, 94.3 percent of financial securities but only 26.5 percent of the debt. For the middle class, their home makes up 62.5 percent of their limited wealth.

The 2016 presidential election will be the second since the court's disastrous Citizens United decision and the first without the full protections of the Voting Rights Act in place. That means big donors will have more sway over elected officials to dictate the agenda.

When Bartels compared the policy preferences of the rich and poor to actual policy results (with controls) his results were disturbing. He finds that low-income preferences had virtually no effect on policy outcomes.

Buckley gave us the dubious principle that unlimited spending on elections is a form of “free speech.”

But even if young white women are aware of how affirmative action could likely benefit them -- and how likely it is that they, in fact, have already benefitted from it -- it’s possible these millennials view efforts to remedy the effects of racism as unnecessary, just as they view efforts to remedy the effects of sexism.  

The human tragedy of Flint, Michigan is agonizing. Thousands of children have been subjected to lead and other chemical poisoning, not to mention adults, just to save a few dollars in a process driven by raw politics and underlying racism.