Should the Kanye West MAGA Debacle Remind Black People That It’s Time To Hold Democrats and Liberals Accountable?
Democrats and others who court the Black vote must deal with the racial wealth gap. White families with an employed head of household has ten times the wealth of their black counterparts, while white households with an unemployed breadwinner have more wealth than a Black home where the head is working all the time, and a college educated Black household is not worth as much as a white family headed by a high school dropout. As Antonio Moore, William Darity of Duke University, and Darrick Hamilton of the New School found in their report “What We Get Wrong About Closing the Racial Wealth Gap,” Black households hold less than seven cents on the dollar compared to whites. Blaming the wealth gap on Black defectiveness and so-called dysfunctional personal behavior, and placing the burden on Black people to work harder to bridge the gap with whites will not work, the authors argue, nor will educational attainment alone.
“Addressing racial wealth inequality will require a major redistributive effort or another major public policy intervention to build black American wealth,” the report says. “This could take the form of a direct race-specific initiative like a dramatic reparations program tied to compensation for the legacies of slavery and Jim Crow, and/or an initiative that addresses the perniciousness of wealth inequality for the entire American population, which could disproportionately benefit black Americans due to their exceptionally low levels of wealth. Indeed, the two strategies — reparations for America’s record of racial injustice or the provision of the equivalent of a substantial trust fund for every wealth poor American — need not be mutually exclusive.”
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