The Racial Wealth Gap: Addressing America’s Most Pressing Epidemic
As recently published in Forbes online by Brian Thompson.
Here are some of the statistics:
- According to the New York Times, for every $100 in white family wealth, black families hold just $5.04.
- The Economic Policy Institute found that more than one in four black households have zero or negative net worth, compared to less than one in ten white families without wealth.
- The Institute for Policy Studies recent report The Road to Zero Wealth: How the Racial Divide is Hollowing Out the America’s Middle Class(RZW) showed that between 1983 and 2013, the wealth of the median black household declined 75 percent (from $6,800 to $1,700), and the median Latino household declined 50 percent (from $4,000 to $2,000). At the same time, wealth for the median white household increased 14 percent from $102,000 to $116,800.