Streams

The Wealth Gap

Wednesday, March 24, 2010

For every dollar of wealth held by their male counterparts, women of color have one small penny. Mariko Chang, author of a new report from Insight, the Center for Community Economic Development, discusses her research on the racial and gender wealth gap.

Guests:

Mariko Chang

Comments [29]

a. g. from hudson county nj

the utter b. s. that calls'em purportes to pas#26s as "wisdom" is beyond pathetic.......

#27 does it ocure to you that the historical breath of the discussion goes back a little further than the seventies? aren't you just looking for a different entity to blame,so what is your point?

Mar. 24 2010 12:53 PM
John Dufrene from NY

Such an IMPORTANT issue... Such an ASTOUNDING discovery at the most COMPELLING of moment in time and (Mariko Chang) such an INSIGHTFUL guest! HOW COULD SPEND SUCH LITTLE TIME ON THE SEGMENT???

Singed,
Deeply Disappointed in you Brian

Mar. 24 2010 12:47 PM
inquisigal from Brooklyn, NY

I agree with No Name; this should not be dictated by policy, as it creates a victim class that will be stereotyped as such. Education is key: but I disagree that this is purely a "women of color"-only issue.

Some of it is long-term gaps in income equality across the genders, but the other is a new problem that has become prevalent in the decades since women have become more independent, the job market has changed, etc. Gone are the days when most women stay at home, and most men work for the same company for decades. So in its place is a weird, mid-point of women working, but not in quite the same way as a man might, because of child-rearing.

I am not a woman-of-color, and see "white" women making plenty of dubious financial decesions, which honestly add to our "wealth" risk... problems like using shopping as therapy, and putting ourselves in debt because we've been raised to think we deserve to live at a certain "upscale" level, regardless of how much money we actually make; having children before we have a career and a way to provide for ourselves and our offspring; a lack of clearly-defined financial arrangements between spouses; and buying into the romance of so many things in life (certain men, living arrangements, child-rearing, etc) without taking the time to logically think it through and see if it all "adds up" on paper first.

Perhaps a conversation about how life-in-general for women has changed so drastically since the 1970's, and how to smartly adapt to these changes, would be more useful than dictating government policy toward such a specific group of people.

Mar. 24 2010 12:28 PM
Calls'em As I Sees'em from Langley, VA

What a racist and sexist segment. What a pessimist view of the world with no advancement, no achievement... where the successful are to be punished and failures are to be rewarded... liberals live in a dismal world filled with envy and absolutely no responsibility. The jews, italians, irish, etc. came to America poor as dirt... they were discriminated against and persecuted and yet the kids of earlier immigrants went to school, studied hard and moved up the ladder. They didn’t cry “give me,” they merely asked “let me.”

What this lady, Brian/NPR, and Obama all have in common is that they don't feel people of color can advance on their own - they need help from big brother and it is a pernicious lie. These liberals and liberal politicians need to end their plantation mentally of the people they profess to want to help and challenge them to run free! End the Welfare State - teach people to fish. Remember - “[T]here is no trade or employment but the young man following it may become a hero.” Walt Whitman

Mar. 24 2010 12:16 PM
the truth from BKNY

ALAN, "women of color" includes Asian as well as all of the other unnamed groups of color, italian, scottish, german, polish, irish et al...i am sure you get the point!

Mar. 24 2010 11:58 AM
the truth from BKNY

TIM, that's not it

Mar. 24 2010 11:57 AM
sadf

Is raising children too expensive to do?

Mar. 24 2010 11:46 AM
no name from Nj

These coversations never further the issue, they reinforce stereotypes. When I now walk into a situation people will now make assumptions about me.

I am African-American and live in a neighborhood where this not the case. This was further reinforced be the NYTimes recently article on freakanomics about African American women.

It's hard to progress if the whole world thinks your poor and undesirable.

This is a complex issue, historical issue and one that has to be solved within the African American community, not by policy. Education.

It's hard to find your way if you don't know who you are.

These conversations don't help they hinder. I'm glad you all have found it fascinating.....

Mar. 24 2010 11:46 AM
a. g. from hudson county nj

where you on venus[serena] or do you take the medias version on anything that coincides with a specific idea that you have a vested interest in believing as gospel truth. there's no politics in reporting- RIGHT!

Mar. 24 2010 11:45 AM
James

Bravo Brian!

I had no clue about this stuff. Another reason why I never regret tuning into your show.

Mar. 24 2010 11:44 AM
inquisigal from Brooklyn, NY

I think that single parentdom, and women's sacrifices for their children, are a large part of this.

Just throwing this out there, but maybe women need to stop putting themselves at risk by having children when their own, individual "wealth" is low or non-existant?

Mar. 24 2010 11:43 AM
JP from NJ

What was the wealth gap at the turn of the century when mill owners and coal mine owners made a lot of their wealth off the backs of child labor?

Mar. 24 2010 11:42 AM
Sally Says from Ridgewood

What does she think about minority targeting of for-profit schools like University of Phoenix?

Mar. 24 2010 11:42 AM
the truth from BKNY

Caller, that is why you cannot fall for the hype that a degree is going to bring you some magical wealth...this is a "who you know" not "what you know" or can show on paper world!

Mar. 24 2010 11:40 AM
robert from park slope

The fact that wealth is cummulative over generations is another argument in favor of keeping some level of the estate tax in place.

Mar. 24 2010 11:40 AM
mu-mei

Also, I once heard that the baby boom generation, because their parents (Tom Brokaw's "greatest generation") benefited so much from the post-war boom that they will inherit exponentially more than any other generation. Isn't inheritence a source of most of this disparity?

Mar. 24 2010 11:40 AM
Tim

>>>the truth from BKNY March 24, 2010 - 11:35AM
Funny how she is saying "women of color" and Brian keep translating the into Black Women...Wonder what his point is?<<

Maybe he thinks it's a way for blacks to lump their problems into other groups so it doesn't look like a black problem. And, it allows blacks to attach on to the successes of "people of color" who are not black.

Mar. 24 2010 11:39 AM
hjs from 11211

debra,
he's just thinking about u

Mar. 24 2010 11:38 AM
Mrs L from Brooklyn

One of the key reasons black women do not accumulate wealth at the same rate as black men is because of the disproportionately high number of female-headed households in the black community. The price of raising children or supporting elderly relatives is very high, especially for socially insecure women who lack easy access to childcare, paid leave and other similar benefits.

Mar. 24 2010 11:38 AM
Hugh Sansom from Brooklyn NY

The disparities in distribution are growing in the US at an astronomical rate. The Bush-Obama bailout and economic stimulus packages are aggravating this. The US tax code aggravates this (not least because *earned* income is taxed at a higher rate than *unearned* income). The social security tax is *regressive*, as are sales taxes.

In many many ways the US favors the wealthier getting wealthier and makes the poor poorer.

Mar. 24 2010 11:37 AM
the truth from BKNY

"Chang" she is an "other" "woman of color" herself...I would like to ask her if all she is saying is true for her situation specific.

Mar. 24 2010 11:37 AM
mu-mei

I'm a white jewish woman with a negative wealth. My grad school loans and credit card debt overwhelm a meager 401K from when I was employed.
I've accepted that I will die in poverty.

Mar. 24 2010 11:36 AM
Alan from New York

Does the category "women of color" include Asian women?

Mar. 24 2010 11:36 AM
the truth from BKNY

Funny how she is saying "women of color" and Brian keep translating the into Black Women...Wonder what his point is?

Mar. 24 2010 11:35 AM
Edward from NJ

How much of that dramatic figure is driven by super-wealthy white people? Even within the sphere of white people, is there a big gap between the top, say, 5% and the other 95%?

Mar. 24 2010 11:35 AM
Serena from UWS

Who threw who under a bus? Were you on Mars when Paterson intimidated a battered woman out of pressing charges against his right hand man?

Mar. 24 2010 11:34 AM
Henry

What is the breakout among:

Indians
Chinese
South East Asians
Arab/ME
Children of African/ Caribbean Immigrants
Hispanics
Native Blacks

Mar. 24 2010 11:33 AM
Hugh Sansom from Brooklyn NY

The US has the greatest disparities in distribution of wealth of any industrialized nation -- far greater than *any* European country (including those formerly behind the Iron Curtain). Indeed, there are third world countries which show *less* inequality than the US.

Mar. 24 2010 11:33 AM
a. g. from hudson county nj

given the ease with which the people at n.o.w. threw gov.patterson under the bus[in spite of a record of being progressive towards womens issues] does your guest think that the notion of universal solidarity for women trumps race?
should it?

Mar. 24 2010 11:19 AM

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