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Wealth gap grows between black and white Americans

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Rev. Martin Luther King sermonized often about the effects and impact of poverty on the American landscape.

From BBC.com

US wealth gap grows between races—A new study has found that the gap in wealth between white and black Americans increased by more than four times between 1984 and 2007.

The study released by the Institute on Assets and Social Policy (IASP) found that African-Americans who earn substantial incomes have been unable to increase their net worth. In 23 years, the gap rose by $75,000 (£52,000), from $20,000 to $95,000. The study suggested these figures reflected public policy in the US. IASP found that public policies in the US benefited the wealthiest people, through tax cuts on investment income and inheritances, and disadvantaged others through discrimination in housing, credit and labour markets.

Counterpoints:

Barbara Ehrenreich, author and regular contributor to Time, and The New York Times, considers black poverty in her blog entry “The Destruction of the Black Middle Class.”

Sociologist Algernon Austin of the Economic Policy Institute notes that though wage disparities continue to widen, black poverty in America actually declined in the 1990’s and only rose slightly in the 2000’s. His post here at the Thora Institute.

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Written by demon53

May 19, 2010 at 9:32 pm

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