Wealth Gap Analysis

Is it racism or economics which hinders many African American communities from progressing economically in the 21st Century? This research proposal will address this question by examining the social and psychological impact caused by racism and the economic impact it’s had on the African American community. This proposal will further investigate whether the emotional scars of slavery continue to hamper African American progress or if racism is actually the cause.

Even though it may seem a tedious part of life, it all pays off in the end, with jobs, and money. Well, this was not the case for well educated black males in the North. Even if one were to surpass any white man, he would still not be able to have a better future than him. An example of this, would be in document c. A young well educated black male, exclaims in a speech, that he does not have as good a future, as any white man. It is sad, how racial discrimination, destroys the future of black kids, who have a lot of potential. The economy is what gets America up and running. If the economy were to collapse, the whole world would go into chaos. The sad thing about it, was that the African American community, were not allowed to contribute to it, except to pay their taxes. According to document b, a black man may be permitted to only pay taxes, and perform duties. It is

Although freedom to become citizens took longer and the fight more difficult, a great number of African Americans steadily gained various rights which accumulated over time. It is important to note that racial segregations momentum dissipated over time as more and more blacks held positions of authority and congressional approval overwhelmingly supported more rights for blacks. Nonetheless, it is also imperative to consider how white supremacists such as the KKK fought to undo the important developments. Till this day, both the executive legislative and judiciary wings of government are constantly battling instances of racial segregation. However, the long range effects of federal government struggle to secure equal rights for African Americans has been significant successes in the rise of African American entrepreneurship. The proliferation of blacks in both government and civil society, the rise of blacks in academia, sports and liberal arts are long effects of the fight for African American rights. This has progressively opened up American society and in a way, levelled the playing field. Also this federal government action to intervene in the affairs of the state has lived on throughout the 21st century.

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.

Racial discrimination is the main and ongoing problem in the social life of Americans. When we look at the gap of incomes between White and African Americans, we can see the inequality between these two groups. In general, whites have more annual earnings than their black counterparts in America. Lori Ann Campbell and Robert L. Kaufman emphasized that the wealth determinants, which are the indicators of socio-economic status, have effected more on Whites than Blacks. And even when society is organized, there is still some disparities on account of race and ethnicity. (Campbell and Kaufman, 2006). And income disparities between African and White Americans have definitely effected the peace of the social life. According to Campell and

Reconstruction did not succeed in incorporating former slaves into American society, but rather complicated the lives of blacks. For example, employment opportunities for african-americans at that time we much more scarce than for the average white. Blacks were usually met with signs saying “Help wanted. Whites Only” and bigotry when seeking employment. Evidently, these facts show that former slaves had little chance of becoming financially stable at the hands of these highly biased hiring

In the early 1800s during the life of Frederick Douglass, the racial inequality was still a major topic in America as many free blacks were still treated poorly and even more were forced to endure the burden of slavery. Slavery may no longer be a problem in society today, but true racial equality also has not been achieved. Pew research provides various statistics showing the current racial divide between blacks and whites in America today through income and poverty levels, education, and family status. This current separation and inequality stems from the events and time period of Frederick Douglass where education and knowledge meant power, wealth determined the type of life one would live, and the lack of family ties lead to every person for themselves.

John Locke, a social contract theorist, says that mankind is equal and independent and “no one ought to harm another of his life, health, liberty or possessions.” When humans enter into a society and form a contract, which leads to government, Locke holds that it is the job of the government to take on the responsibility of protecting the life, liberty and property of its inhabitants; however, the US government failed to protect these rights for Black Americans affected by slavery. Adam Smith, an economist and political theorist, believed that the government should defend and be proprietors of justice. The American government’s purpose, for Smith and Locke, is to promote justice through flourishing ; specifically economic flourishing for Smith. Sadly, history reveals that this was not the circumstance. During the 1700’s, America was one of several countries to embrace chattel slavery. Though slavery is no longer legal in the US, its effects have still rippled the waters of history. Today America stands on trial. It is guilty of failing to fulfill its role as a government by promoting flourishing. Slavery and segregation in the United States have impeded the economic flourishing amongst Black American communities. History and literature will serve as evidence of this crime in exploring the impact of slavery and segregation in education, familial structure and economics.

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.

African Americans specifically seemed have the most discrimination and lacking of prosperity due to the fact that they were the biggest ethnic group out of the rest of the other ethnic groups. African American soldiers like the rest of the veterans of World War II, received the GI Bill monthly allowance of $50 or $75 if they had a family, each month. The money was often used towards and was intended to be used towards higher education or training (Document J). The government essentially was paying these veterans to go to school and make something out of themselves. African Americans however were not offered this opportunity because of the fact that many colleges were prejudice and had rules about blacks going to their schools. Africans Americans in school at any level were segregated and not treated equal to other people of their age and qualifications because of their race. If African Americans were denied this opportunity, how could the make something out of themselves and add to the prosperity of society? The answer is they could not (Document E). With the opportunity of getting an education lost and not being able to get a degree and therefore a job, at least African Americans could use the money to buy a home in a suburb like many other people were. They could not do that either even though buying homes in suburbs was

The system has also privatized the school and prison system, which go hand in hand with the economic reality of today. The racial disparities of today, was triggered by the downfall of the economic system that is in place right now. Families are struggling and individuals are looking for a way out. This paper will identify the realities African Americans face with the issue of economic justice along in the United States.

The wealth gap, or wealth inequality, is known as the unequal distribution of assets within a population. The wealth gap in America between the lower and upper classes is rising exponentially. This imbalance within the distribution of wealth leaves those who aren’t as financially stable to struggle to achieve the same standard of education, and overall living necessities, such as housing, as those who’s wealth persistently grows. The rising wealth gap plaguing American society is bringing those of the lower and middle classes to a set disadvantage point compared to those who have an affluent amount of money. Although this inequality is contributing to an emergent opportunity gap, a solution can arise through new legislation concerning financial

The difference of income and workers conditions has been a timeless conflict present throughout history of the United States. In the past workers were faced with deadly work conditions and around the clock hours for little pay. These unjust conditions dramatically increased during the Industrial Revolutions that the United States experienced in the nineteenth century. The latter period of industrialization produced the organization of the first labor unions in the Country, namely the Knights of Labor established in 1869 and the American Federation of Labor established in 1886. In present day countless unions exist, and are a lot less needed than they were in the early industrial days of the United States (Brinkley, 2012).

In this paper I will be discussing the wealth gap. I will also be discussing if there should be a “special” tax to redistribute the wealth. I hope to enlighten the reader of the issue of the wealth gap, and if a tax would help.

Throughout America’s past, racial inequality has been a reoccurring theme in our society. Ever since the Europeans invaded America the white man has been superior compared to all ethnicities. No more than two hundred years ago, African Americans were slaves and only counted as three fifths of a person. Within the past hundred years African Americans have managed to obtain more equality in some situations, but in other cases racial inequality has become worse than it was when segregation took place. The gaps between the quality of education of white and black students receive appears to be growing instead of shrinking. The lack of quality education blacks receive has contributed to significant health differences between