Eliminating the racial wealth gap requires large-scale policy interventions, but also explicitly addressing the country’s exploitative, violent and discriminatory past
Righting this particular wrong necessarily will lead policymakers to discuss the value and size of reparations
. To be clear, the racial wealth gap represents the cumulative effect of hundreds of years of exploitation, oppression and discrimination that targeted policies need to address. Reparations are a redress for one particular historical wrong - slavery. to getting good jobs, owning a house, starting a business and saving for retirement as whites do. The racial wealth gap is the conglomeration of these obstacles into one number – wealth – broken down by race.Calculations Based on Federal Reserve's Survey of Consumer Finances
Just consider how the wealth of college educated African-Americans stacks up against that of whites without a college degree in 2016 as groups here are combined to preserve sufficient sample sizes. The median wealth of African-Americans with a college degree was 67.7% of the wealth of whites with a high school degree and only 10% more than the median wealth for white high school drop-outs that year. Whites with less education have a lot more wealth that African-Americans with a college degree.
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