The yawning racial wealth gap in the United States is no accident, but rather, driven by unjust public policy decisions—from the re-segregation of education to the redlining of home ownership to poverty wages, according to a new analysis by Brandeis University and the public policy organization Demos.
Owning a home, then equal pay for equal work, and then having a college degree are the three factors that can make the biggest difference in closing the racial wealth gap, which is how non-whites in America are vastly less wealthy than most whites.
If blacks and Latinos owned homes as widely as whites, then median black household wealth would grow by $32,113, and median Latino wealth would grow by $29,213, a new study by Demos, a progressive think tank, and the Institute for Assets and Social Policy at Brandeis University has found.
Owning a home, then equal pay for equal work, and then having a college degree are the three factors that can make the biggest difference in closing the racial wealth gap, which is how non-whites in America are vastly less wealthy than most whites.
If blacks and Latinos owned homes as widely as whites, then median black household wealth would grow by $32,113, and median Latino wealth would grow by $29,213, a new study by Demos, a progressive think tank, and the Institute for Assets and Social Policy at Brandeis University has found.
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When discussing race, the conservative argument is best expressed by the famous words of Chief Justice John Roberts: “The best way to stop discrimination on the basis of race is to stop discriminating on the basis of race.” Translation: America has done bad things in its history, but those bad things are gone now, so we should move past those horrors and look forward.
Conservatives believe that if blacks and Latinos simply work hard, get a good education and earn a good income, historical racial wealth gaps will disappear.
The median white household has $111,145 in wealth holdings, compared to $7,113 for the median black household and $8,348 for the median Latino household, according to a recent study called The Racial Wealth Gap: Why Policy Matters. [...]
On Labor Day, let’s all take a moment to thank our bosses for the rights and benefits they have so generously granted us.
Oh wait, that’s right. Decent wages and working conditions were never gifts. Workers organized, fought, and in many cases died for each and every improvement in our working lives. And workers are fighting today—to protect the rights we’ve won, and to advance new and needed labor laws.
It is with great sadness that we announce the passing of Senior Fellow Wallace C. Turbeville, a beloved member of the Demos family since 2012. Wallace “Wally” Turbeville was among our country’s most respected and influential thought leaders and advocates for systemic financial reform as a core fight in the struggle for economic and racial justice.
Doing “everything right” — making all the optimal life choices to build wealth and get ahead, despite obstacles — is still not enough for black and Latino households to accumulate as much wealth as their white counterparts.
When it comes to jobs, the fast food industry represents the worst of our economy: paying poverty wages; offering irregular, part-time hours; and providing few benefits. Wage theft and workplace safety hazards are rampant. An executive who has built his personal wealth on a fast food business model that treats working people as cheap and disposable is among the worst possible choices to lead the Department of Labor. Yet Donald Trump has selected fast food CEO Andrew Puzder for the responsibility of protecting American workers.
Much of America’s greatness is due to the contributions of immigrants. One of our founding fathers—Alexander Hamilton—was an immigrant from the Caribbean.
President Trump called last night for “one of the largest increases in national defense spending in American history.” He has proposed increasing the military budget by $54 billion—a proposal that would require great sacrifice from working people in the form of cuts to vital health care, education and environmental services.
Congressional Republicans and the Trump administration apparently believe that extremely basic workplace protections are too onerous to ask U.S. businesses to uphold.
With so many eventual graduates starting at community colleges, we should take a hard look at institutional aid policies, which reward incoming freshmen much more than transfer students.
Today is Equal Pay Day. Counting from January, the average woman has just earned as much as the average man did by December 31. In other words, it took her 15 months to earn what the average man earned in 12.
