Thomas Shapiro, professor of law and social policy at Brandeis University, and Algernon Austin, director of the Race, Ethnicity and the Economy Program at the Economic Policy Institute, discuss the widening wealth gap between African Americans and whites. Learn more about how communities accumulate wealth and attempts to narrow the racial and ethnic gaps at Insight Center for Community Economic Development
Comments [30]
Phoebe,
I think you're really missing the point that the poster "the truth" is not articulating very well.
Many minorities fail to see the urgency over gay marriage because they haven't seen so much attention given to the economic disparity between whites and blacks. Or whites and hispanics.
I myself feel that gay marriage and other hot-button social issues have served as a wedge to distract and divide us while the real issues were the widening income gap and the thievery on Wall Street.
Please consider this. For the record, I was once a vocal supporter of gay marriage, and I did vote in California against Prop 8, thus I voted in support of gay marriage. But I am not happy that it is distracting us from, let's face it, REAL issues.
Get the state out of the marriage business and back in the business regulation and oversight.
That's their job. Not marriage.
Antonio: I agree with you entirely, and in most cases I would also think those who manage money well would also have access to wide sources of information on options available with a higher credit score.
At Phoebe, me thinks she thinks I am an unable to recognize satire...what a laugh!
HJS - Yes
PHOEBE - Thanks yor opinion really matters too me
Phobe: Good point. But at the very least one who manages money well, and understands the nuances (awareness of credit card aprs, penalties if late on bills) should not get railroaded in my opinion..
Phoebe you make my life worth living!!
where will they post the links from this segment? i am trying to find incite.org/insight.org/insite.org and am having no luck.
maybe they're referring to incite? www.incite-national.org...
?
thanks leo glad you're a fan!
@10 Truth: HJS would be engaging you in something known as satire. And doing it well, I may add.
hjs - you continue to be an idiot. What substances do you consume to enhance your stupidity. Because I'm sure that God blessed you with a brain - USE IT!
Antonio: A high FICO score reflects use of credit which fits models in place with the reporting agencies. This doesn't necessarily correlate with income or education, but a high score would certainly reflect an inate ability to handle money sensibly.
Matthew 19:23-24 (New International Version)
23Then Jesus said to his disciples, "I tell you the truth, it is hard for a rich man to enter the kingdom of heaven. 24Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God."
Is there a cultural componenet of this? If wealth roughly corresponds to savings, do blacks spend more on consumption as status indicators than whites do? For instance, I have noticed than blacks at all levels tend to dress better than whites (whereas a white person would wear ratty jeans and a T-shirt as almost arefverse status symbol, the comparable balck person will be wearing a suit and tie). Or where wealthy white might drive a beat up 10 year old car, a black in acomparable position would be dring a BMW or a Mercedes.
Question doesn't high FICO scores correlate with high income jobs or at least better then average education levels? Basically if I went to a bank and they said "hey antonio your FICO score is 850, what do you think of a mortgage rate of 10%.." wouldn't a person just look at any listing of current rates and say "wtf?"
truth, you know people who choose to be gay?
How is he defining "family" for purposes of comparison? Do these families have two earners in each comparison? Are the statistics for white and non white families similar in terms of number of children, number of persons employed, etc.? I am not assuming anything, just wondering about the variables.
With income & credit score adjustments, a much higher take-up rate of subprime loans in black and hispanic communities is an interesting statistic. Was this due to local agents, possibly within the same communinity, thinking they can use trust to sell "bad" loans as any central policy from the banks would be easily exposed and open them to discrimination suits?
I'm not buying the reasons Mr. Austin is giving for this alleged disparity. Where are these studies published? When were they published and by whom? I think a lot of this disparity is more closely connected to disparaging attitude of many blacks toward education, as well as extreme consumerism among blacks for items that decrease in value is probably more responsible. Also, what solutions are the guests proposing to fix the disparity? By the way, I am black and I am tired of race always being thrown out as the first reason for every ill in the community.
Noo Okee there are Riches in Heaven, my Father has many mansions etc...read the Bible...*heavy sigh*
@hjs: That's funny!
HJS..you know people who choose to be poor?
so everyone in heaven is poor? sounds great
Wow, hispanic and asians not even in the equation, how bad off must they be?
Improve how? How do you catch up with that kind of lead time? Whites are passing on the property earned on the back of my great great grandparents to their children, so they start out ahead of the game.
Did he just say "downwardly mobile"? wow
what's the big deal some people choose to be poor. when it's time to be judged rich people won't get into heaven
Oh by the by I have a paid for vehicle too!
Wondering where this info was derived from. No one asked me what my liquid net worth was what investments I hold, how much my house is worth...I must have missed that call.
Let's get to the point. What do your guests think about gay African American marriage?
Can the guests recommend some CURRENT LITERATURE ON THIS ISSUE? Thanks, in advance.
if we took out all the rich white people what would the gap be between working class whites and working class blacks?
Leave a Comment
Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.