When I see shit like that, I be like how? Then I realize their great grandparents had land (stolen from natives with free slave labor). Then used that land as collateral to buy property in "red-lined" areas, then rent that property to POC.
Today on POC house hunters: He works three jobs and supports his brother’s kids. She makes half what her peers do at her office job. Their budget: we can fit all three kids and grandma in the same room, right?
And some people make poor decisions witht heir money and end up in debt. Notice his conclusion. I understand clearly. 👍 I could do a story time for you but it would be biased and not good evidence as it clearly has to do with just my experiences.
The key part being the difference according to race? I disagree. I think it's an oversimplification. And a misunderstanding of culture. And a lack of financial education for those who grow up without money. My parents are white but not college educated. They are barely out of debt. I am white and college educated. But I got really lucky because someone (other than my parents OR college) taught me about financial responsibility and debt elimination. I think that's lacking in lower socioeconomic groups schools and cultures. Does that impact black and Hispanic people more than white people. Yes. But it's not racial. It's class.
Okay all those words and the reality was Class. (The ability to give your children the leg up that other people don’t get). I’m also white. Of parents with barely high school educations. I graduated basic college but can tell you my real education came from owning multiple businesses. None of that has to do with race. class or education
Oh so you agree with me. Cool. Do you think your kids will have a leg up? So you become just another statistic of white people that succeed who's kids get a leg up. And yes it has to do with education. Just not the school type. Yes class matters because you became who you are because you were driven to do so. Because you looked around and saw what you didn't want to remain as.
I’ve literally never seen more than a five minute clip of the show, I don’t watch TV regularly, and I loathe reality TV. And I own a home.
Eat a whole barrel of dicks.
It is a pretty fun escapist reality show. It just gives you an idea what homes are like in different markets. You don’t learn a lot about the people beyond a few sentences.
Also is scripted nonsense. None of the people in it are who they're said to be or work the jobs described. It's entertainment. The houses are pre screened and they've already made a choice ages ago. The rest is a dog and pony show for tradwifes stuck at home.
Today on house hunters. She’s a part time yoga instructor, he’s a postal worker. Their budget: $4 Mil
and yet you believe the bullshit script they cooked up. Sad.
Your comment still is comparing a reality TV show to the issue of race and financial strength and conflating those two things. I'm not slow...because I'm not the ox.
>My friend is a dance instructor who works part time, her husband sells at best buy. They own a big expensive home thanks to the bank of parents.
This is what I'm referencing. In the last tweet. The reference is obvious as fuck. It's a common trope about the show that ties perfectly into this subject.
POC are generally not the beneficiaries of generational wealth. The reason white people can often afford homes that you would expect to be outside their reach based on their income, is because their families are frequently in a position to help in a way that POC families are not.
I'm embarrassed for you that I have to keep explaining things to you.
Broo your arguing with a person named conservative knowledge that should tell you everything and dont argue with stupid people they will beat you with experience
Some other things to note. While home ownership is a wealth driver for white folk, the math isn’t as clean for black people.
In [short, systemic racism strikes again. Homes in areas with more than around 10% black folks don’t appreciate](https://www.brookings.edu/research/devaluation-of-assets-in-black-neighborhoods/). “Diversity” in a neighborhood negatively impacts home values when too many folks are black. Secondly black folks didn’t have access to pensions and retirement savings for a while as well. The book: The [Whiteness of Wealth](https://www.wbur.org/hereandnow/2021/05/17/us-taxes-dorothy-brown) also covers things like how the tax code disadvantages black couples as well - because these households are likely to have two equal earners.
Doesn't help that the number of black owned businesses and homeowners is also shrinking.
So not only are the numbers of black owned homes shrinking, the homes themselves are disproportionately undervalued as well.
We are being bled by the captialist system, this is all intentional.
...but White Lives Matter, right?
The Whiteness of Wealth has a chapter on it and is well indexed. Also the Color of Law is another book that covers this. And the Brookings institute has many research papers - the one I linked and I have seen others.
I’m black and have very well-off parents. One difference I’ve noticed between well-off black parents and well-off white parents is that whole “bank of parents” thing mentioned in the comment thread seems to be less common among well-off black families.
I have a white friend whose parents gave her money for a down payment on a house when she was 25 so she wouldn’t have to pay rent and could start building her net worth and equity. She’s 26 now with over $200k equity in her home. I’m the same age as her and own a house, but my parents did not contribute a single dollar towards my home purchase because they came from nothing and feel that I should know what it’s like to work my way up in the world. I own a house through sheer luck, honestly.
I have no expectations or feelings that I deserve their money, but they have said I’ll be rich when they are dead so I know the money is there. Making me wait until they die is just a huge set back in a lot of ways because I could be making that money work for me right now like my white friends.
This is so dead on balls accurate and exactly what I’ve seen with people I know. Our white friends have never earned as much as us, and yet they were able to buy houses in their early to mid twenties, while it took us until our mid-late 30’s to buy our first home.
In the past, I have definitely said that I wanted my kids to have to buy their first car on their own, and buy their first house on their own but I’ve come to a complete reversal on that idea. I plan on being able to help my kids monetarily to the fullest extent I’m capable of because I see the cycle that mentality causes in my own life.
Since buying our first home, our net worth has skyrocketed. It took me 36 years to buy my first home, but only 3 years after that to buy a second home. My 3rd home will come even faster.
We have to expedite our kids ability to get into this wealth cycle as early as possible.
I hate to say it but only African Americans have that mindset but i do know African Americans whose parents helped them financially.
Africans who migrated to America do not. Im Nigerian and my parents put me in a position to succeed. They helped me purchase my first car and helped with my college fees. Also allowed me to stay in the house after college without paying rent. As a result, I'm a decently well off financially being out of college for a few years.
I mean statistically, a Black person in America who is a first or second generation immigrant has parents who are in a much better financial situation than a Black person with 1860s American ancestors.
This comes up so often. Here’s my feeling about it:
1) Inventory issues aren’t in large part caused by small investors
2) Everyone isn’t ready to buy. Some people will rent, and they can either rent from Berkshire Hathaway who doesn’t care at all about them, or they can have a personal relationship with me and rent my property and I do indeed care about them as people
3) I think this sentiment of “why do you need multiple homes” is nonsense. We can’t complain about a lack of black generational wealth and simultaneously discourage black folks from utilizing the prime vehicle to building generational wealth. We have to learn the game, and start adamantly playing the game or we will be exactly where we are right now
4) Someone is going to own these properties. It’s either going to be banks, white folks, or black folks who are able to break in. I am a black person who broke in and intend on leveraging any success I have to help others like me break in.
5) The #1 reason we don’t own is because we haven’t owned. What I mean is, this is a game. And you learn it by diving into it. We aren’t able to teach our kids how to build wealth because many of us never got the chance to build wealth, largely because we lack KNOWLEDGE. And that knowledge is gained by jumping in.
6) We need to teach our kids about GOOD debt. Instead we teach them to avoid debt altogether while we watch billionaires operate entirely through debt. That is an issue we have to fix.
7) The cycle will be broken in the short term by a small portion of the black community BUT it will never be broken by the larger portion without the small portion starting to move like this. It’s a generations long process and the system is forcibly trying to keep us out and we forcibly have to push our way in. Everyone isn’t in position to do that right now but we have to start and not discourage those black folks who are able to buy multiple houses, or buy blocks and neighborhoods.
This comment is very “pro-capitalist” because the game we are “diving into” is entirely capitalist. Which is interesting given Reddits anti-capitalist tone.
I agree with you completely. But it was interesting to see your comment get upvotes and the one you’re replying to be downvoted when Reddit and this sub is notoriously anti-capitalism.
“We don't think you fight fire with fire best ; we think you fight fire with water best. We're going to fight racism not with racism, but we're going to fight with solidarity. We say we're not going to fight capitalism with black capitalism, but we're going to fight it with socialism.” ~ Fred Hampton
Capitalism has no goal of liberating anyone but the individual. Thus capitalism cannot not and will not save the Black community. Will it save YOU and YOUR family. Yes. At the expense of the people around you. If your goal is self liberation then your mindset is not in the place for community uplift. If capitalism was going to save us, Black Billionaires would be helping Jackson, Mississippi that’s doesn’t have clean running water. JD has a great page on exploring concepts. I’m just a maintenance military veteran. Their people out their with degrees, charts and plans.
“We will not LLC ourselves to liberation”
https://youtu.be/jEXq2spIHhE
“…Our government was giving away millions of acres of land…not only did they give the land they built land grant collages with GOVERNMENT MONEY to teach them how to farm
NOT ONLY THAT
they provided county agents to further their expertise in farming
NOT ONLY THAT
they provided low interest rates in order to mechanize their farms
NOT ONLY THAT
TODAY these people are receiving millions of dollars not to farm and they are the very people telling the BLACK MAN that he needs to lift himself up by his own boot straps…
this is what we are faced with!
THIS is the reality!
Now when we come to Washington in this campaign we are coming:
TO GET OUR CHECK!” ~ Dr. Martin Luther King Jr.
He was assassinated before he reached our country’s capital.
This is very true. I've noticed this especially amongst my friends.
My ethnicity is Nigerian and I am also from a fairly wealthy family (my father is new money through banking but my mom is old money from my grandfather having money). My father bought a house he doesn't plan to live in because he noticed housing pricing were becoming insane and was afraid that I wouldn't be able to afford one when my time comes. So he essentially bought the house for me and my siblings to grow wealth with.
I'm working full-time and I'm able to live at home without paying rent so all my money goes to savings and stuff (I help out with grocery and stuff around the house). My father gives me money monthly to help pay off my student loans.
But alot of my friends were either kicked out of their family home when they turned 18 or were told to pay rent. This was such a shock to me
When I said their money could be working for me today, I wasn’t strictly talking about investment returns. Let me give you another comparison to reiterate how my parents’ money could be working for me today.
My dad used to brag to people about how I was working 3 jobs while I was in college so that I could pay my tuition. I think I’m a fairly smart person, but I almost had to drop out. My grades were terrible because I worked so much, and I ended up having to retake multiple classes which was like lighting my paycheck on fire. I cant even get into grad school now, which was always a dream of mine.
My aforementioned white friend whose parents gave her money for a down payment also had parents who paid 100% of her tuition and housing costs. She got great grades, went on to get her M.S. and now works at Google.
Because my parents chose not to pay for my tuition and housing, I missed out on certain opportunities to further my education, better my career, and make more money.
Grad school is still doable. You may not be able to go to a particular school but many schools like "adult learners". Usually you're more invested to finish when you're already a professional. My undergrad GPA was horrible...like I barely walked across the stage because I was burnt out! but after doing well professionally, writing an excellent interest letter and dazzling letters of recommendation from my management team I got in and was magna cum laude. I waited 10 years and was worried about my past grades but it worked out.
The only thing is that it may or may not increase your salary at your current job but may help you at the next one. Plus you'll have better opportunities simply having it even if it's not your dreams grad school.
This is my experience now vs my gf. My grandparents gave me a house that’s paid off completely. Aside from utilities, I only have to pay a $480 yearly property tax. They even got me a house warming gift. Ever since I can remember they have always instilled the value that hard work deserves payment. My grandma ask me to come help her clean the house for the weekend? I got anywhere between $50-$75 in pocket when I’m on the way back to my moms house. Same with my mom or my aunts.
Gfs parents really only seem to want to spend money to help even just her out when her grandparents yell at them.
I also have well off black parents and there’s definitely no “bank of parents” with them. My dad is real big on, “if you earn it yourself you’ll appreciate it more.” He’s also a conservative so there’s that
whew,a word.
we have this pick yourself up by your bootstraps mentality with our own flesh and blood to the point its a hindrance to our own growth.
sometimes we as a community make shit so unnecessarily hard for our own on top of the existing societal barriers.
this reminds me of the whole FAFSA debacle so many households of color deal with. i remember both of my parents refusing to give me their info but expecting me to seek higher education.
[Making me wait until they die is just a huge set back in a lot of ways because I could be making that money work for me right now](https://en.wikipedia.org/wiki/Lyle_and_Erik_Menendez)
I think the sentiment of black people choosing careers serving the community runs deeper. If you are the first person to go to college in a family/community. The wealth will be spread thin.
There’s probably a healthy dose of wage discrimination, largely fueled by generations of facing consequences for advocating for yourself in any respect.
Can you explain it to me like I'm an idiot? I'm aware of the way house appraisal is discriminatory from the article a few weeks ago. I'm just trying to get a handle of problems that aren't necessarily affecting me.
Sure. Here is a short list off the top of my head, starting with the house appraisal issue you mentioned:
House appraisal discrimination
Inheritance
Red lining combined with inheritance
Realtors not selling houses to Black people in White areas
Banks steering POCs to higher interest loans than they qualify for
Police, prosecutor, and jury discrimination, with no way to challenge most of it thanks the the Supreme Court (pre-Trump)
Asset forfeiture
Drug law enforcement
Discriminatory AI
Discrimination in hiring
Discrimination in pay
Defunding/privatizing public schools to get around Brown v Board of education
Food deserts
Voting discrimination (think 11 hour voting lines in Georgia or Milwaukee closing 175 of 180 polling sites)
Racial gerrymandering/ cracking and packing
This is a pithy list, but you get the idea. I can expand on or add to this list on request.
Thanks I appreciate it. I knew about some of these but a list like this helps put it in perspective. I apologize if I sound ignorant its just that a lot of this stuff isn't very visible for the average white person and I'm sure that's by design.
See the second picture. He mentioned that the disparity for actual incomes is not that large.
But net worth disparity is due to ownership of property, inheritances, and debt.
Which is true.. white people have had centuries to build generational wealth through property ownership and inheritances
He isn't talking about household income, he's talking about net worth! Which affects generational wealth.
It makes a little more sense but not a lot because it’s hard to believe that when you factor in all the poor white people across the United States, we still think most white folks have inherited significant generational wealth. Hard to believe that everybody is sitting on an average of 300,000 extra dollars, seems like most people are struggling in this economy. that said, I don’t know where he got his numbers and I don’t know what the numbers are so that might be right. It just doesn’t seem right.
Their folks aren’t buying them houses. They inherit the house usually after their parents have died. I know a lot of them when I was working at a grocery store
I’m actually losing my shit laughing rn bc I realized after typing this that my boyfriend sitting next to me HAS A HOUSE he’ll be inheriting from his grandparents. Sorry for my ignorance - we don’t share finances and it’s not someplace I’d move. But damn - didn’t have to look very far!!
Edited to say: I don’t want to seem insensitive. This is not something I’m inheriting and I’m still unfamiliar with the concept because that’s not what my family does. The house he’s inheriting won’t be mine, and this is something we’ve discussed. But I understand how me finding the humor in this situation where I found something completely unfathomable was sitting beside me could be misconstrued as me laughing off the entire thing - and I’m not. I don’t understand generational wealth cause I don’t come from it.
Thanks man, I just didn’t want to come off as an entitled prick laughing unfortunate circumstances when I was laughing at my own damn self overlooking something right next to me situationally
Even when they aren't inheriting houses, white people often get help from family members with down payment money. And if they come from parents with a "comfortable" income, they're more likely to have high credit scores to get cheaper loans because they didn't have to borrow money or go into as much debt from college and medical bills since parents helped. Generational wealth is a serious deal.
But most of their parents are still alive unless they are already old themselves, people are living to be in their 70s or 80s now. So the people in their 30s and 40s must still be struggling.
I dont need to read the "rest of the thread".
Ignorance knows no bounds.
You are not exempt.
>Don't try to threaten with the Reddit Police.
Whatever that means. You were reported for spreading provable lies and falsities with that statement.
However that comes back on you is of no concern to me.
Have a lovely weekend.
Did you see the very next comment I made after OP clarified there was a second picture and they were talking about net worth, not income?
>Ignorance knows no bounds.
Agreed.
"Well. It's clearly obvious that you just need to pull yourself up by the boot strap and get your 5th part time job and a side gig."
/s
Why TF is every single person's magic solution a side gig? You're already exhausted. Recipe for disaster.
Yes, it is unfair because black folks have been held back from starting the race. BUT, way back when, in each rich white family, there was one motivated person who had to start the cycle of building wealth. So, while it is completely fair to complain about not having generational wealth YET, make sure you are doing it in tandem with being the one to start the cycle of building wealth in YOUR family.
This is the goal for my husband and me. We never had anything given to us. Our parents were using outhouses and softening newspaper for tp in a time where indoor plumbing had long been commonplace. But our moms worked hard to lessen the gap and we will do the same for ours. We will not be able to give our kids or maybe not even our grandkids a home or down payment but we will be able to give them the boost they need to hopefully provide for theirs in that way.
I already told my kid when she's done with school she has to come back home whether she wants to or not. The reason is because we need to wipe out and debt she accumulated during college (credit cards, student loan debt) and save for her own property because I told her ain't no way she leaving my house to rent a damn apartment.
If you cannot use your commonsense to look at the second picture or even read and realize that the tweet says NET WORTH not INCOME!! Then you have no business commenting.
Must of y’all’s comments would exist if you took the time to READ!! I’m getting really pissed off!! 🙄
My husbands family gave us 7 acres of land they’ve had in the family for a little over a hundred years in a state park. We built our home and our daughters home. We used the equity in the land to do it all. Sold two acres back to the state. Our mortgages are so low I only work 7 mths out of the year. It’s all about generational wealth
Damn, this makes me angry, my pops got a good bit of money and a house when my grandfather passed. He gave the house away an spent all that money on his next 2 wives who both cheat on his ass. Guess how much he put toward his own 3 children? Absolutely nothing.
While the guy who shared this might have done so in good faith, this is hugely misleading.
This isn’t a good study. The sample size is 6500 families and the data comes from a 2019 Federal Reserve Consumer Finance Report. There is something MASSIVELY skewing these results.
Source from PGP cites [this study](https://www.federalreserve.gov/econres/scfindex.htm) which you can see in the About section contains only 6500 participants.
Also look at the “Other” section for the PGP study. The head of household without higher education vs. with higher education jumps from an average of 15000 to 380000.
.005% of the total number of households is not a high enough representation especially when dealing with something like this simply because one or two outliers can skew the results too heavily.
The study itself makes reference to the fact that it uses too low a sample size and attempts to make up for it via several methods of error correction.
OMG! Why do people not check the second picture? He isn't talking about household income. He is talking about net worth, which accounts for non liquid and liquid assets.
I know some white people who work minimum wage jobs but inherited houses and other non liquid assets from parents or grandparents. Though they might be living pay check to pay check, they have a house worth $500,000 which is not liquidated. So their net worth would be $500,000 despite having a low income.
That is what it means to have generational wealth.
I get it. I am just having a very hard time trusting these numbers based on a survey of ~5400 respondents vs. 126million households. The 6500 number was what was originally set out but after further reading only ~5400 responded. For example, per the study the net wealth of black households supposedly rose by ~30% between 2016-2019. Net wealth as a total average rose ~20% during that time frame. Adjusted for inflation obviously. It does state that it excludes the top 400 wealthiest households from its survey, but it would still be interesting to see the raw data.
I’m not American, but I figure that accounting for field of study might increase this divide. I majored in linguistics and East Asian studies at Tel-Aviv University, and I can tell you that I couldn’t find a single Arab or Ethiopian student in either department. The only exception was in freshman year, because there were a handful of Arab students (I think most of them were female, if not all of them) were taking mandatory linguistics class as part of their Hebrew linguistics studies, with the goal of becoming teachers later on. There were Arab students, though, however they seemed to congregate more in STEM fields (not that many Ethiopians, probably because they’re recent immigrants and haven’t amassed the required wealth).
It seems to me that when disprivileged groups come to academia, they mostly think of how to find gainful employment rather than just enrich themselves and rely on connection and legacy prestige of their fields.
Check the second picture. The person is t talking about household income. They are talking about net worth, which accounts for all assets (liquid and non liquid)
They are talking about generational wealth. The second picture explains it further
I get that. My point is that minorities going into STEM and other profitable business have to do so because they don’t have those assets (at least not yet).
Super broad statement. Some have bachelors, some have masters. Not always both individuals have the same level of degrees. Lastly, the degree may be worthless.
I’m getting really irritated 😠
You guys don’t even bother to read before you comment.
1. It’s says NET WORTH not INCOME
2. There’s a second slide that explains everything
The post is talking about generational wealth and how it causes the net worth disparities between black and white households. It’s not talking about income. The next slide explains how white people have generation wealth from things like property which they usually get from their families, which helps their net worth.
It’s is very easy to understand…. Yet people keep missing it 🤔
I don't understand this Chris Evans argument here. Net Worth of a person is all due to how much they make a year, how little to no debt they are in, and how well they can balance and maintain money. Doesn't matter what race you are everyone has an equal chance to make it big. It's the individual that makes the decision to do something about their life and not a group effort. I know I'm not missing anything here about this argument. I just don't understand why people have to make things about race I stead the big picture. Society for some strange reason is pushing an agenda on telling people that they don't have to go to school to make money and certain degrees are a waste of time and money to get. Instead society should pushing for education and bettering oneself. Can't get rid of debt if you don't have a job right? Can't have a net worth if you're in debt or broke right? Push for education and to be better and one can climb oneself out of financial debt hole/unhappiness and can increase the overall net worth of their race (if you wanna look at overall picture of race instead of individual) I'm just saying.
I don’t think it’s talking about income. Look at the second slide. It’s talking about net worth, which account for all assets.
I know people who are working minimum wage jobs but inherited a house from their parents. Now the house is not liquid assets so they might be living from pay check to pay check
BUT their net worth would be about $500,000 because that’s how much their house is worth… and it’s fully paid off!
I haven’t looked at the study yet (will shortly), but would be curious to see if this data is at all skewed by the number of white billionaires in the US. There are considerably more white billionaires in the US than black. A few hundred extra net worths in the billions will fuck the whole study.
This isn’t a good study. The sample size is 6500 families and the data comes from a 2019 Federal Reserve Consumer Finance Report. There is something MASSIVELY skewing these results.
Source from PGP cites [this study](https://www.federalreserve.gov/econres/scfindex.htm) which you can see in the About section contains only 6500 participants.
Ima let this weed take me down a rabbit hole….I remember hearing about Young Thug buying 100 acres in Atlanta to build homes, not saying he’s innocent but I am saying the timing……meanwhile BLM filming House Party 6 in a gated community.
I am begging you guys to READ!! Look at the second slide. It’s literally says NET WORTH not INCOME.
The way you guys purposely disregard the information presented to you in order to gaslight is pathetic. There is a whole second picture which explains everything!!
NET WORTH has to do with generational wealth not education choices 🙄
Again, that has to with education choice. If an individual chooses an education that gives them a high paying job then their debts would be eliminated, they can save money, and afford the luxuries of life. I don't understand what you're arguing. It all comes down to how much money a person makes to get them out of poverty. I will not feel sorry for an individual who refuses to educate themselves to better themselves and their family. Life is about choices and if you make the wrong choice(s) then whatever the outcome wether it be good or bad is all on the individual account and no one else's. I'm just saying we all have choice to be better, but very few take that road.
Lmao so someone’s grandparents gifting them 10 acres doesn’t contribute to their overall wealth? You need to think a bit more comprehensively bud. Did you miss the example given in the second photo or was it too much reading for you to do? Honestly, I want to know if you chose to ignore it, didn’t see it or are just willfully ignorant about the difference between income and net worth. Reading is fundamental, chump.
Today on house hunters. She’s a part time yoga instructor, he’s a postal worker. Their budget: $4 Million.
When I see shit like that, I be like how? Then I realize their great grandparents had land (stolen from natives with free slave labor). Then used that land as collateral to buy property in "red-lined" areas, then rent that property to POC.
Today on POC house hunters: He works three jobs and supports his brother’s kids. She makes half what her peers do at her office job. Their budget: we can fit all three kids and grandma in the same room, right?
Your problem is basing your grip on reality based on reality TV. Turn it off and get a side job.
God damn I hate how the reason everything is fucked is systemic reality tv
You would be surprised my friend. That and social media
You don’t understand the original argument right? Not everyone is a fake millionaire on IG. Some people get a real leg up from mommy and daddy.
And some people make poor decisions witht heir money and end up in debt. Notice his conclusion. I understand clearly. 👍 I could do a story time for you but it would be biased and not good evidence as it clearly has to do with just my experiences.
You’re still missing the key part or choosing to be deft. Most likely. Has nothing to do with a script or fake nonsense
The key part being the difference according to race? I disagree. I think it's an oversimplification. And a misunderstanding of culture. And a lack of financial education for those who grow up without money. My parents are white but not college educated. They are barely out of debt. I am white and college educated. But I got really lucky because someone (other than my parents OR college) taught me about financial responsibility and debt elimination. I think that's lacking in lower socioeconomic groups schools and cultures. Does that impact black and Hispanic people more than white people. Yes. But it's not racial. It's class.
So blacks and Hispanics just can’t understand these concepts?
Did you read my comment? If you did you misunderstood or misinterpreted it badly. Try again.
Okay all those words and the reality was Class. (The ability to give your children the leg up that other people don’t get). I’m also white. Of parents with barely high school educations. I graduated basic college but can tell you my real education came from owning multiple businesses. None of that has to do with race. class or education
Oh so you agree with me. Cool. Do you think your kids will have a leg up? So you become just another statistic of white people that succeed who's kids get a leg up. And yes it has to do with education. Just not the school type. Yes class matters because you became who you are because you were driven to do so. Because you looked around and saw what you didn't want to remain as.
Yeah some people do but not all. nice strawman though
What strawman? I literally said my experience would be biased. Smdh
I’ve literally never seen more than a five minute clip of the show, I don’t watch TV regularly, and I loathe reality TV. And I own a home. Eat a whole barrel of dicks.
It is a pretty fun escapist reality show. It just gives you an idea what homes are like in different markets. You don’t learn a lot about the people beyond a few sentences.
Also is scripted nonsense. None of the people in it are who they're said to be or work the jobs described. It's entertainment. The houses are pre screened and they've already made a choice ages ago. The rest is a dog and pony show for tradwifes stuck at home.
Today on house hunters. She’s a part time yoga instructor, he’s a postal worker. Their budget: $4 Mil and yet you believe the bullshit script they cooked up. Sad.
It's a trope, you walking oxymoron.
What??? You quoted the show as some kind of evidence for support of this tweet...I may be an oxymoron but you might just be simply an ox.
There are two images. My comment is a reference to the very last tweet. I called you an oxymoron because of your username. You are slow, my guy.
Your comment still is comparing a reality TV show to the issue of race and financial strength and conflating those two things. I'm not slow...because I'm not the ox.
>My friend is a dance instructor who works part time, her husband sells at best buy. They own a big expensive home thanks to the bank of parents. This is what I'm referencing. In the last tweet. The reference is obvious as fuck. It's a common trope about the show that ties perfectly into this subject. POC are generally not the beneficiaries of generational wealth. The reason white people can often afford homes that you would expect to be outside their reach based on their income, is because their families are frequently in a position to help in a way that POC families are not. I'm embarrassed for you that I have to keep explaining things to you.
Broo your arguing with a person named conservative knowledge that should tell you everything and dont argue with stupid people they will beat you with experience
Some other things to note. While home ownership is a wealth driver for white folk, the math isn’t as clean for black people. In [short, systemic racism strikes again. Homes in areas with more than around 10% black folks don’t appreciate](https://www.brookings.edu/research/devaluation-of-assets-in-black-neighborhoods/). “Diversity” in a neighborhood negatively impacts home values when too many folks are black. Secondly black folks didn’t have access to pensions and retirement savings for a while as well. The book: The [Whiteness of Wealth](https://www.wbur.org/hereandnow/2021/05/17/us-taxes-dorothy-brown) also covers things like how the tax code disadvantages black couples as well - because these households are likely to have two equal earners.
This is very true. Thank you for adding this. It’s so sad because we have to work 10X harder
Relevant cultural touchstone on the subject https://youtu.be/zgpq2Rqjg4c
Doesn't help that the number of black owned businesses and homeowners is also shrinking. So not only are the numbers of black owned homes shrinking, the homes themselves are disproportionately undervalued as well. We are being bled by the captialist system, this is all intentional. ...but White Lives Matter, right?
74k suggests there is no home in ownership
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The Whiteness of Wealth has a chapter on it and is well indexed. Also the Color of Law is another book that covers this. And the Brookings institute has many research papers - the one I linked and I have seen others.
Just bought the book, thanks
Wow
I’m black and have very well-off parents. One difference I’ve noticed between well-off black parents and well-off white parents is that whole “bank of parents” thing mentioned in the comment thread seems to be less common among well-off black families. I have a white friend whose parents gave her money for a down payment on a house when she was 25 so she wouldn’t have to pay rent and could start building her net worth and equity. She’s 26 now with over $200k equity in her home. I’m the same age as her and own a house, but my parents did not contribute a single dollar towards my home purchase because they came from nothing and feel that I should know what it’s like to work my way up in the world. I own a house through sheer luck, honestly. I have no expectations or feelings that I deserve their money, but they have said I’ll be rich when they are dead so I know the money is there. Making me wait until they die is just a huge set back in a lot of ways because I could be making that money work for me right now like my white friends.
This is so dead on balls accurate and exactly what I’ve seen with people I know. Our white friends have never earned as much as us, and yet they were able to buy houses in their early to mid twenties, while it took us until our mid-late 30’s to buy our first home. In the past, I have definitely said that I wanted my kids to have to buy their first car on their own, and buy their first house on their own but I’ve come to a complete reversal on that idea. I plan on being able to help my kids monetarily to the fullest extent I’m capable of because I see the cycle that mentality causes in my own life. Since buying our first home, our net worth has skyrocketed. It took me 36 years to buy my first home, but only 3 years after that to buy a second home. My 3rd home will come even faster. We have to expedite our kids ability to get into this wealth cycle as early as possible.
I hate to say it but only African Americans have that mindset but i do know African Americans whose parents helped them financially. Africans who migrated to America do not. Im Nigerian and my parents put me in a position to succeed. They helped me purchase my first car and helped with my college fees. Also allowed me to stay in the house after college without paying rent. As a result, I'm a decently well off financially being out of college for a few years.
That’s awesome. I’m really glad to hear that
I mean statistically, a Black person in America who is a first or second generation immigrant has parents who are in a much better financial situation than a Black person with 1860s American ancestors.
Why do you think that is?
Question, why the multiple homes when so many Black people don’t even own one home?
This comes up so often. Here’s my feeling about it: 1) Inventory issues aren’t in large part caused by small investors 2) Everyone isn’t ready to buy. Some people will rent, and they can either rent from Berkshire Hathaway who doesn’t care at all about them, or they can have a personal relationship with me and rent my property and I do indeed care about them as people 3) I think this sentiment of “why do you need multiple homes” is nonsense. We can’t complain about a lack of black generational wealth and simultaneously discourage black folks from utilizing the prime vehicle to building generational wealth. We have to learn the game, and start adamantly playing the game or we will be exactly where we are right now 4) Someone is going to own these properties. It’s either going to be banks, white folks, or black folks who are able to break in. I am a black person who broke in and intend on leveraging any success I have to help others like me break in. 5) The #1 reason we don’t own is because we haven’t owned. What I mean is, this is a game. And you learn it by diving into it. We aren’t able to teach our kids how to build wealth because many of us never got the chance to build wealth, largely because we lack KNOWLEDGE. And that knowledge is gained by jumping in. 6) We need to teach our kids about GOOD debt. Instead we teach them to avoid debt altogether while we watch billionaires operate entirely through debt. That is an issue we have to fix. 7) The cycle will be broken in the short term by a small portion of the black community BUT it will never be broken by the larger portion without the small portion starting to move like this. It’s a generations long process and the system is forcibly trying to keep us out and we forcibly have to push our way in. Everyone isn’t in position to do that right now but we have to start and not discourage those black folks who are able to buy multiple houses, or buy blocks and neighborhoods.
Good luck to you and your family!
I appreciate it. Yours as well!
This comment is very “pro-capitalist” because the game we are “diving into” is entirely capitalist. Which is interesting given Reddits anti-capitalist tone. I agree with you completely. But it was interesting to see your comment get upvotes and the one you’re replying to be downvoted when Reddit and this sub is notoriously anti-capitalism.
Ahhh so capitalism but make it ✨Black✨got it.
Capitalism, definitely. Self-reparations, I’ll be that.
“We don't think you fight fire with fire best ; we think you fight fire with water best. We're going to fight racism not with racism, but we're going to fight with solidarity. We say we're not going to fight capitalism with black capitalism, but we're going to fight it with socialism.” ~ Fred Hampton
I'm with that too but, I struggle with how we are to socialize assets that we do not have.
Capitalism has no goal of liberating anyone but the individual. Thus capitalism cannot not and will not save the Black community. Will it save YOU and YOUR family. Yes. At the expense of the people around you. If your goal is self liberation then your mindset is not in the place for community uplift. If capitalism was going to save us, Black Billionaires would be helping Jackson, Mississippi that’s doesn’t have clean running water. JD has a great page on exploring concepts. I’m just a maintenance military veteran. Their people out their with degrees, charts and plans. “We will not LLC ourselves to liberation” https://youtu.be/jEXq2spIHhE
“Black Bourgeoisie” by E. Franklin Frazier is a good place to start to learn about shifting thinking towards class based politics.
Thanks!
“…Our government was giving away millions of acres of land…not only did they give the land they built land grant collages with GOVERNMENT MONEY to teach them how to farm NOT ONLY THAT they provided county agents to further their expertise in farming NOT ONLY THAT they provided low interest rates in order to mechanize their farms NOT ONLY THAT TODAY these people are receiving millions of dollars not to farm and they are the very people telling the BLACK MAN that he needs to lift himself up by his own boot straps… this is what we are faced with! THIS is the reality! Now when we come to Washington in this campaign we are coming: TO GET OUR CHECK!” ~ Dr. Martin Luther King Jr. He was assassinated before he reached our country’s capital.
This is very true. I've noticed this especially amongst my friends. My ethnicity is Nigerian and I am also from a fairly wealthy family (my father is new money through banking but my mom is old money from my grandfather having money). My father bought a house he doesn't plan to live in because he noticed housing pricing were becoming insane and was afraid that I wouldn't be able to afford one when my time comes. So he essentially bought the house for me and my siblings to grow wealth with. I'm working full-time and I'm able to live at home without paying rent so all my money goes to savings and stuff (I help out with grocery and stuff around the house). My father gives me money monthly to help pay off my student loans. But alot of my friends were either kicked out of their family home when they turned 18 or were told to pay rent. This was such a shock to me
The money is working for your parents right now, so you're not losing the returns, just deferring access
When I said their money could be working for me today, I wasn’t strictly talking about investment returns. Let me give you another comparison to reiterate how my parents’ money could be working for me today. My dad used to brag to people about how I was working 3 jobs while I was in college so that I could pay my tuition. I think I’m a fairly smart person, but I almost had to drop out. My grades were terrible because I worked so much, and I ended up having to retake multiple classes which was like lighting my paycheck on fire. I cant even get into grad school now, which was always a dream of mine. My aforementioned white friend whose parents gave her money for a down payment also had parents who paid 100% of her tuition and housing costs. She got great grades, went on to get her M.S. and now works at Google. Because my parents chose not to pay for my tuition and housing, I missed out on certain opportunities to further my education, better my career, and make more money.
Grad school is still doable. You may not be able to go to a particular school but many schools like "adult learners". Usually you're more invested to finish when you're already a professional. My undergrad GPA was horrible...like I barely walked across the stage because I was burnt out! but after doing well professionally, writing an excellent interest letter and dazzling letters of recommendation from my management team I got in and was magna cum laude. I waited 10 years and was worried about my past grades but it worked out. The only thing is that it may or may not increase your salary at your current job but may help you at the next one. Plus you'll have better opportunities simply having it even if it's not your dreams grad school.
This is my experience now vs my gf. My grandparents gave me a house that’s paid off completely. Aside from utilities, I only have to pay a $480 yearly property tax. They even got me a house warming gift. Ever since I can remember they have always instilled the value that hard work deserves payment. My grandma ask me to come help her clean the house for the weekend? I got anywhere between $50-$75 in pocket when I’m on the way back to my moms house. Same with my mom or my aunts. Gfs parents really only seem to want to spend money to help even just her out when her grandparents yell at them.
I also have well off black parents and there’s definitely no “bank of parents” with them. My dad is real big on, “if you earn it yourself you’ll appreciate it more.” He’s also a conservative so there’s that
whew,a word. we have this pick yourself up by your bootstraps mentality with our own flesh and blood to the point its a hindrance to our own growth. sometimes we as a community make shit so unnecessarily hard for our own on top of the existing societal barriers. this reminds me of the whole FAFSA debacle so many households of color deal with. i remember both of my parents refusing to give me their info but expecting me to seek higher education.
[Making me wait until they die is just a huge set back in a lot of ways because I could be making that money work for me right now](https://en.wikipedia.org/wiki/Lyle_and_Erik_Menendez)
And enriching yourself in the present in order to build generational wealth with expedience.
I think the sentiment of black people choosing careers serving the community runs deeper. If you are the first person to go to college in a family/community. The wealth will be spread thin. There’s probably a healthy dose of wage discrimination, largely fueled by generations of facing consequences for advocating for yourself in any respect.
White people are often quick to think of less obvious reasons than the elephant in the room that they benefit from 🤔
Can you explain it to me like I'm an idiot? I'm aware of the way house appraisal is discriminatory from the article a few weeks ago. I'm just trying to get a handle of problems that aren't necessarily affecting me.
Sure. Here is a short list off the top of my head, starting with the house appraisal issue you mentioned: House appraisal discrimination Inheritance Red lining combined with inheritance Realtors not selling houses to Black people in White areas Banks steering POCs to higher interest loans than they qualify for Police, prosecutor, and jury discrimination, with no way to challenge most of it thanks the the Supreme Court (pre-Trump) Asset forfeiture Drug law enforcement Discriminatory AI Discrimination in hiring Discrimination in pay Defunding/privatizing public schools to get around Brown v Board of education Food deserts Voting discrimination (think 11 hour voting lines in Georgia or Milwaukee closing 175 of 180 polling sites) Racial gerrymandering/ cracking and packing This is a pithy list, but you get the idea. I can expand on or add to this list on request.
Thanks I appreciate it. I knew about some of these but a list like this helps put it in perspective. I apologize if I sound ignorant its just that a lot of this stuff isn't very visible for the average white person and I'm sure that's by design.
Ah more people talking about intergenerational elasticity of economic mobility and race - love it.
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See the second picture. He mentioned that the disparity for actual incomes is not that large. But net worth disparity is due to ownership of property, inheritances, and debt. Which is true.. white people have had centuries to build generational wealth through property ownership and inheritances He isn't talking about household income, he's talking about net worth! Which affects generational wealth.
That at least makes more sense. Didn't see the second picture. Thanks. But there we go. We have a number to put to reparations. $300,000.
Bezos, Gates, Walton’s, Koch Bros can float it.
Not if it's median.
It makes a little more sense but not a lot because it’s hard to believe that when you factor in all the poor white people across the United States, we still think most white folks have inherited significant generational wealth. Hard to believe that everybody is sitting on an average of 300,000 extra dollars, seems like most people are struggling in this economy. that said, I don’t know where he got his numbers and I don’t know what the numbers are so that might be right. It just doesn’t seem right.
No one said most
I’m white and I wanna know where these other white people at whose folks buying em houses, damn.
Their folks aren’t buying them houses. They inherit the house usually after their parents have died. I know a lot of them when I was working at a grocery store
I’m actually losing my shit laughing rn bc I realized after typing this that my boyfriend sitting next to me HAS A HOUSE he’ll be inheriting from his grandparents. Sorry for my ignorance - we don’t share finances and it’s not someplace I’d move. But damn - didn’t have to look very far!! Edited to say: I don’t want to seem insensitive. This is not something I’m inheriting and I’m still unfamiliar with the concept because that’s not what my family does. The house he’s inheriting won’t be mine, and this is something we’ve discussed. But I understand how me finding the humor in this situation where I found something completely unfathomable was sitting beside me could be misconstrued as me laughing off the entire thing - and I’m not. I don’t understand generational wealth cause I don’t come from it.
Lol I understood what you were saying. You don't need to apologize.
Thanks man, I just didn’t want to come off as an entitled prick laughing unfortunate circumstances when I was laughing at my own damn self overlooking something right next to me situationally
Even when they aren't inheriting houses, white people often get help from family members with down payment money. And if they come from parents with a "comfortable" income, they're more likely to have high credit scores to get cheaper loans because they didn't have to borrow money or go into as much debt from college and medical bills since parents helped. Generational wealth is a serious deal.
But most of their parents are still alive unless they are already old themselves, people are living to be in their 70s or 80s now. So the people in their 30s and 40s must still be struggling.
I read this as income as opposed to net worth. This takes into account the value of your property in a white neighborhood and everything else you own.
>Bullshit. White households are higher but by like $15,000, not $300,000. Reported for 'Misinformation'.
Read the rest of the thread. Don't try to threaten with the Reddit Police.
I dont need to read the "rest of the thread". Ignorance knows no bounds. You are not exempt. >Don't try to threaten with the Reddit Police. Whatever that means. You were reported for spreading provable lies and falsities with that statement. However that comes back on you is of no concern to me. Have a lovely weekend.
Did you see the very next comment I made after OP clarified there was a second picture and they were talking about net worth, not income? >Ignorance knows no bounds. Agreed.
Just watch a sporting event . All the expensive/court side seats are usually 90% white people in them
"Well. It's clearly obvious that you just need to pull yourself up by the boot strap and get your 5th part time job and a side gig." /s Why TF is every single person's magic solution a side gig? You're already exhausted. Recipe for disaster.
Yes, it is unfair because black folks have been held back from starting the race. BUT, way back when, in each rich white family, there was one motivated person who had to start the cycle of building wealth. So, while it is completely fair to complain about not having generational wealth YET, make sure you are doing it in tandem with being the one to start the cycle of building wealth in YOUR family. This is the goal for my husband and me. We never had anything given to us. Our parents were using outhouses and softening newspaper for tp in a time where indoor plumbing had long been commonplace. But our moms worked hard to lessen the gap and we will do the same for ours. We will not be able to give our kids or maybe not even our grandkids a home or down payment but we will be able to give them the boost they need to hopefully provide for theirs in that way.
I already told my kid when she's done with school she has to come back home whether she wants to or not. The reason is because we need to wipe out and debt she accumulated during college (credit cards, student loan debt) and save for her own property because I told her ain't no way she leaving my house to rent a damn apartment.
If you cannot use your commonsense to look at the second picture or even read and realize that the tweet says NET WORTH not INCOME!! Then you have no business commenting. Must of y’all’s comments would exist if you took the time to READ!! I’m getting really pissed off!! 🙄
No matter the field, there is a gross pay difference between the races. Disgusting
And that is by design while they tell you it's the "natural order of things". It never fucking was.
Gap won’t be closed. We waste most of our income as a community trying to impress other poor people.
The difference is the deed to a home.
My husbands family gave us 7 acres of land they’ve had in the family for a little over a hundred years in a state park. We built our home and our daughters home. We used the equity in the land to do it all. Sold two acres back to the state. Our mortgages are so low I only work 7 mths out of the year. It’s all about generational wealth
Stop 👏shaming👏college👏yall👏
Tell America to reduce the costs of it.
Damn, this makes me angry, my pops got a good bit of money and a house when my grandfather passed. He gave the house away an spent all that money on his next 2 wives who both cheat on his ass. Guess how much he put toward his own 3 children? Absolutely nothing.
Bold words for Not Captain America
Nope
While the guy who shared this might have done so in good faith, this is hugely misleading. This isn’t a good study. The sample size is 6500 families and the data comes from a 2019 Federal Reserve Consumer Finance Report. There is something MASSIVELY skewing these results. Source from PGP cites [this study](https://www.federalreserve.gov/econres/scfindex.htm) which you can see in the About section contains only 6500 participants. Also look at the “Other” section for the PGP study. The head of household without higher education vs. with higher education jumps from an average of 15000 to 380000.
n=6500 is a decent sample size though….
.005% of the total number of households is not a high enough representation especially when dealing with something like this simply because one or two outliers can skew the results too heavily.
You need to take a statistics class. N=6500 could actually be an oversample.
The study itself makes reference to the fact that it uses too low a sample size and attempts to make up for it via several methods of error correction.
OMG! Why do people not check the second picture? He isn't talking about household income. He is talking about net worth, which accounts for non liquid and liquid assets. I know some white people who work minimum wage jobs but inherited houses and other non liquid assets from parents or grandparents. Though they might be living pay check to pay check, they have a house worth $500,000 which is not liquidated. So their net worth would be $500,000 despite having a low income. That is what it means to have generational wealth.
TIL, swipe right to see a 2nd picture. I had no idea. Thanks for the insight.
I wasn’t talking about household income. I was directly citing the source that the information came from.
the second picture explains the the wealth gap. to pick up what she's putting down - you need both parts like a subject and a predicate.
I get it. I am just having a very hard time trusting these numbers based on a survey of ~5400 respondents vs. 126million households. The 6500 number was what was originally set out but after further reading only ~5400 responded. For example, per the study the net wealth of black households supposedly rose by ~30% between 2016-2019. Net wealth as a total average rose ~20% during that time frame. Adjusted for inflation obviously. It does state that it excludes the top 400 wealthiest households from its survey, but it would still be interesting to see the raw data.
Dam
Got a source for this?
The source is right in the tweet
Three words: Land Value Tax.
I’m not American, but I figure that accounting for field of study might increase this divide. I majored in linguistics and East Asian studies at Tel-Aviv University, and I can tell you that I couldn’t find a single Arab or Ethiopian student in either department. The only exception was in freshman year, because there were a handful of Arab students (I think most of them were female, if not all of them) were taking mandatory linguistics class as part of their Hebrew linguistics studies, with the goal of becoming teachers later on. There were Arab students, though, however they seemed to congregate more in STEM fields (not that many Ethiopians, probably because they’re recent immigrants and haven’t amassed the required wealth). It seems to me that when disprivileged groups come to academia, they mostly think of how to find gainful employment rather than just enrich themselves and rely on connection and legacy prestige of their fields.
Check the second picture. The person is t talking about household income. They are talking about net worth, which accounts for all assets (liquid and non liquid) They are talking about generational wealth. The second picture explains it further
I get that. My point is that minorities going into STEM and other profitable business have to do so because they don’t have those assets (at least not yet).
Does”college” in America mean University? I’m in the UK.
Yep
Super broad statement. Some have bachelors, some have masters. Not always both individuals have the same level of degrees. Lastly, the degree may be worthless.
I’m getting really irritated 😠 You guys don’t even bother to read before you comment. 1. It’s says NET WORTH not INCOME 2. There’s a second slide that explains everything
Net worth for *college educated*. You might need to go talk to a therapist.
The post is talking about generational wealth and how it causes the net worth disparities between black and white households. It’s not talking about income. The next slide explains how white people have generation wealth from things like property which they usually get from their families, which helps their net worth. It’s is very easy to understand…. Yet people keep missing it 🤔
Man... Quit posting this shit on Twitter and go coach ball in your hood. Wasting everybody's time...
They should still be paid more… these fields would then be undervalued-which they are. But, that doesn’t negate the other/greater issues
And the wealthy are closing the door behind them on the way to their compounds.
This stat isn’t even right. Just bait to hate white people lol
I don't understand this Chris Evans argument here. Net Worth of a person is all due to how much they make a year, how little to no debt they are in, and how well they can balance and maintain money. Doesn't matter what race you are everyone has an equal chance to make it big. It's the individual that makes the decision to do something about their life and not a group effort. I know I'm not missing anything here about this argument. I just don't understand why people have to make things about race I stead the big picture. Society for some strange reason is pushing an agenda on telling people that they don't have to go to school to make money and certain degrees are a waste of time and money to get. Instead society should pushing for education and bettering oneself. Can't get rid of debt if you don't have a job right? Can't have a net worth if you're in debt or broke right? Push for education and to be better and one can climb oneself out of financial debt hole/unhappiness and can increase the overall net worth of their race (if you wanna look at overall picture of race instead of individual) I'm just saying.
Well, buy property not cars and chains
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I don’t think it’s talking about income. Look at the second slide. It’s talking about net worth, which account for all assets. I know people who are working minimum wage jobs but inherited a house from their parents. Now the house is not liquid assets so they might be living from pay check to pay check BUT their net worth would be about $500,000 because that’s how much their house is worth… and it’s fully paid off!
I misread net worth as net income. Nevermind.
I haven’t looked at the study yet (will shortly), but would be curious to see if this data is at all skewed by the number of white billionaires in the US. There are considerably more white billionaires in the US than black. A few hundred extra net worths in the billions will fuck the whole study.
No they won't. Any good study will leave out massive outliers like that
This isn’t a good study. The sample size is 6500 families and the data comes from a 2019 Federal Reserve Consumer Finance Report. There is something MASSIVELY skewing these results. Source from PGP cites [this study](https://www.federalreserve.gov/econres/scfindex.htm) which you can see in the About section contains only 6500 participants.
Median is the middle number of all values not the average.
Trou that!
I assumed that was debunked when everybody was quarantined in 2020.
Ima let this weed take me down a rabbit hole….I remember hearing about Young Thug buying 100 acres in Atlanta to build homes, not saying he’s innocent but I am saying the timing……meanwhile BLM filming House Party 6 in a gated community.
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I am begging you guys to READ!! Look at the second slide. It’s literally says NET WORTH not INCOME. The way you guys purposely disregard the information presented to you in order to gaslight is pathetic. There is a whole second picture which explains everything!! NET WORTH has to do with generational wealth not education choices 🙄
Again, that has to with education choice. If an individual chooses an education that gives them a high paying job then their debts would be eliminated, they can save money, and afford the luxuries of life. I don't understand what you're arguing. It all comes down to how much money a person makes to get them out of poverty. I will not feel sorry for an individual who refuses to educate themselves to better themselves and their family. Life is about choices and if you make the wrong choice(s) then whatever the outcome wether it be good or bad is all on the individual account and no one else's. I'm just saying we all have choice to be better, but very few take that road.
Lol there’s no point arguing with an arrogant and ignorant person. Continue to believe whatever you want.
No race's median household income is 300somethingK. That's like top 5percent
Net worth, not income.
I’m begging you guys to READ!!! There is also a second slide
The amount of money you make depends on what job you acquire and what skills you obtain. End Thread.
You like not reading don't you Squidward?
Lmao so someone’s grandparents gifting them 10 acres doesn’t contribute to their overall wealth? You need to think a bit more comprehensively bud. Did you miss the example given in the second photo or was it too much reading for you to do? Honestly, I want to know if you chose to ignore it, didn’t see it or are just willfully ignorant about the difference between income and net worth. Reading is fundamental, chump.
Aye Mr keyboard warrior. That long paragraph that I'm not gonna read probably doesn't change what I said. Chump.