Since American society is based on lower, middle, and high classes, wealth is one of the major concerns. The United States is divided into a wide range of cultures. The majority of the cultures is made up of Caucasians and African Americans. “Whites alone made up 77.7 percent while blacks made up 13.2 percent of the population in 2013” (United States Census Bureau). Both of these races combined make up 90.9 percent of the United States population, and because of this, these two races will make up most of the workforce. With these two cultures being the majority of our society, why do they have such a wealth gap? The wealth gap is the most acute indictor of racial inequality. With the wealth gap persisting, there will be no post-racial …show more content…
This shows that the median Latino or Black household would have to save almost 100 percent of their income for three consecutive years to end the wealth gap. With there being different environments that people are raised and living in America can see that households share a great range of household net worth. If every race in the United States could be equal with income wealth there would be hardly any different environment types that the citizens would live in. With all races living in an equal environment, households would start to see a balanced median household income.
Alexandra Killewald, in the article “Return to Being Black, Living in the Red: A Race Gap in Wealth That Goes Beyond Social Origin,” discusses wealth, racial differences, debt, and income distribution. Killewald claims that people and government aid should not only help African Americans, Caucasians, and Latinos, but everyone that needs help getting out of poverty. The author focuses more on the white and black races, because they are the majority of our society. He states, “In 2009 the median wealth of white households was 20 times that of black households, the greatest disparity in at least 25 years” (Killeward). Killewald provides a chart to back up his information that shows white households have a median household income $53,600, versus median black household income of $33,945. The question arises if the gap
1. How can an understanding of the complexities of culture help us make sense of the day-to-day world which we live? Give an example from your life to illustrate your answer.
American culture has been referred to as a “melting pot.” Different cultures have added their own distinct aspects to society, making America a diverse country. Despite the plethora of cultures, certain norms, mores, and folkways are evident in American society. These ideas are vital to the function and stability of America. They provide guidelines for what is acceptable and not. In virtually every society, there are people who engage in deviant behavior and do not abide by the values that the rest of society follows. Theorists have debated if people are socialized into acting this way and if it is a social or personal problem. The sociological study of culture focuses on norms, mores, and folkways.
In Thomas Shapiro’s “The Hidden Cost of Being African American”, Shapiro goes in depth on how wealth in America is disproportionately dispersed between different nationalities. Mainly between Caucasians and African Americans. Shapiro has helped paint the image of wealth inequality and has shown how this is even more staggering than the wage gap between African Americans and Caucasians. Some of the theories he indirectly uses in his book and that I will be exemplifying are generational wealth and support systems, education, and the idea of how poverty only begets more poverty.
The wage gap is not new. In 1947, 68% of black household earned less than $10,000 annually, the number earning more than $30,000 was so small as to be negligible. The economic situation for blacks continued to be hard, and the percentage of black households earning more than $30,000 did not rise above 10% until after 1964. The causes of this very low income were the Jim Crow laws. (Robinson 431) In the 1940’s every African-American in the U.S. suffered economically, as well as in other ways, because of the Jim Crow laws. This puts them in a cycle of poverty, which is very hard to break, especially because of lingering racism.
America has a lengthy history on how it became the powerful country it is today, and although its history can be interrupted in many ways (depending who you ask) one thing that is for certain is that wealth has yet to be distributed equally amongst minorities. According to the article “Income inequality matter; Extreme gap in wealth makes society unstable.” Philip Meyer claims that the wealth gap between whites and minorities has existed since Ronald Reagans’ term of presidency (A9). Although Ronald Reagans’ term ended many years ago the mistakes that caused this imbalance of wealth (and its aftermath) while he was in office remains almost if not exactly the same as when the problem initially began (Meyer A9). The wealth gap continues to target minorities and is affecting our communities at an alarming rate, however, many attempts have been made to reduce its existence but the factors of income inequality, unemployment rates and discrimination before and after our recent 2007 recession prevents our country from eliminating such a toxic problem.
Economically speaking, not all men and women are created equal within America. After reading Doubly Divided, it is clear that white people have always maintained a wealthier status above non-white groups throughout this country’s history. Even in today’s society, many Native Americans, African Americans, Latinos, and Asian Americans have high poverty rates and low valued assets when compared to whites, clearly exhibiting a racial wealth gap. However, the Federal Government has greatly contributed to this wealth gap over the last 200 years through a process I call the “take and prevent method”. For example, large amounts of land were taken from Native Americans and given to white farmers under the Homestead Act of 1862. With a major asset gone, the government prevented any further wealth accumulation by forcing Native Americans onto reservations, using corrupted trust fund accounts, and assimilating them into white culture (through the 1887 Dawes Act). As an additional example, the discontinuation of the Freedman’s Bureau and an overturned civil rights act meant that African Americans had their land and rights to ownership taken away as well. And as a measure of prevention, governmental programs such as unemployment, Social Security, and
The equitable wealth disproportion between African Americans and Whites is still on the rise. Researchers have identified systematic barriers affecting the ability for African Americans to accumulate wealth. In addition, researchers indicate several possible factors such as, less intergenerational inheritance, higher unemployment and lower incomes (Desilver, D, 2013). Impoverished generations have been unable to escape their restricted economic condition. Whites have gained an economic opportunity for every unfavorable condition that has impeded African Americans economic opportunity over time forging grounds for economic disparity. Because of unfavorable conditions due to the effects of slavery, generations of African Americans have had to bear racism and inequality. According to Pew Research the median household income of a family of three in 2011 was $39, 760 for African Americans in whereas White American Family median household income is $67, 175 a household income difference of $27, 000 (Morin, R
This first lecture gave us a close look into the unequal share of wealth and the factors that determine the wealth of individuals in the American society. One of the first factors that affect immensely the inequality in America is the obsessiveness of wanting to classify people and make them mark a box for their gender, race and class. Where men and whites have more privileges than any other person and are not only paid higher, but would most likely spend less time in prison for committing the same crime as an African American. The United states is so unequal that the top 1% of the population has 38.1% of the wealth and the bottom 40% which is a little less than half of the people living in America only have 0.2% of the wealth. And as if that statistic alone was not scary enough, we learn in this
About 3.5 times more blacks are in poverty than whites (DBQ 7). As a result, blacks do not have the same income as whites and it is harder for African Americans to find a jobs. Since the civil rights movement occurred, about 15% of the whites that lived in Latino or black neighborhoods have moved out and into a neighborhood that are mostly white (DBQ 8). This continues to support that whites and even blacks are still showing a great example of the Civil Rights term “separate but equal”.
Economically, there is a deep seeded gap between African Americans and Caucasians in modern era. Michael Genovese argues that “in the United States, corruption and reform more often exact their costs in the form of reduced competition in both politics and the economy” (14). It is about reducing competition, or ,in other words, reducing the amount of economic opportunity to grow one’s wealth. Through slavery and segregation, the African American community had no ability to grow as they were not only physically but economically as well. This idea of corruption reducing competition can be seen in the economic gap that is shown between African Americans and Caucasians.Taking a look at this statistic that was found in “The Racial Wealth Gap” a Forbes article by Laura Shin, “the median white household had $111,146 in wealth holdings in 2011, compared to $7,113 for the median black household and $8,348 for the median Latino household”. Oppression of African Americans can not be the sole reason for this disparaging difference, but perceptions of African Americans can definitely be a factor to not allow the same opportunities as others, reducing the likelihood gaining individual wealth. Through these statistics, the oppression of the past is highly likely to be a key factor in the maltreatment and disproportionate distribution of wealth in regards to African Americans. The attitudes that have been pasted
There are a few reasons why home value rises a lot more for whites than African-Americans on the grounds that whites are significantly more ready to give family monetary help, bigger in advance installments by white property holders lower interest rates and loaning expenses. As anyone might expect, increments in pay are a noteworthy wellspring of riches amassing for some US families. However,income picks up for whites and African-Americans have an altogether different effect on riches. At the individual riches medians, each dollar increment in normal wage over the 25-year study period included $5.19 riches for white families, while the same salary increase just included 69 pennies of riches for African American families. Most Americans inherit next to nothing or no cash at all. in view of college a normal
The unemployment rate in the African American community is higher than any other group in American society. Institutionalized racism and unequal education opportunities have contributed to the unemployment rate. There are various reasons why the unemployment rate is greater in the African American communities. Consequently, Blacks are attaining higher education at a rate lower than other groups in society, and lack opportunities in the workforce. These are just two of the elements that cause the wealth gap between Blacks and Whites in America’s financial system. African men and women were brought to America for slavery. Once the slaves were freed, they had to find work and enter into the American workforce with little or no education. Therefore, countless Blacks were forced to take lower level jobs in American society. As a result, racism and inequality became institutionalized injustices that widen the wealth gap. Scores of Blacks were denied the opportunity to purchase properties and to attain assets and wealth. The majority of Whites do not know Black people’s reality and financial obstacles because White people do not face housing discrimination or scrutiny in the workplace. White people have benefited from the inequality that minorities face in the United States financial system. According to Hilary Shelton Deputy Director, Washington Bureau, National Association for the Advancement of Colored People “because of affirmative action, fairness is
Statistics shows that for every $1 in additional income to Latinos, white families will earn $5.37 more. Even if incomes were reduced by 50%, white families would still only have half of the wealth. Surprisingly we think that racial equity depends on equal labor market. Have we been thinking about this matter as inequality? We need to know that wealth comes from stocks and Income is a flow.
The racial income gap illustrates that the United States is not a meritocracy society. A meritocracy society would be an area where everyone no matter what color or background they are from have the chance to succeed based on their own ability. Although it is certainly appealing and a magnificent way of viewing our society, in reality no society can ever truly function as a meritocracy and therefore having no control at birth and the environment where we grow up, and who we get surrounded with puts major races, especially in the United States in disadvantage, a country that is far from meritocratic compared to other nation.
One of the social issues concerning power, status, and class in American society today is income inequality. The income gap between the social classes has increased drastically throughout the last few decades, creating a significant gap between the wealthy and the poor. This gap has become so large that the middle class has nearly diminished, creating a social class comprised of the rich and the poor. The significant gap between the two social classes is unhealthy for the economy because it provides too much power in the hands of those with high social status.