Married Black families have far less wealth than single-parent white families. A Black college graduate earns two-thirds the net worth of a white high school dropout. The speakers argue traditional solutions like marriage and education won't close the racial wealth gap, proposing large-scale community investment instead.
Does marriage.
Close the racial wealth gap for black Americans? Apparently not. We know now that the average white family that's a single parent family has about two times the wealth of the average black family that has two parents.
This is exactly why black folks need to do things differently. The regular ways that we do things are not working. They haven't been working and they aren't going to work. If we continue to do the things we've been doing, we're not making progress. And that's why I am advocating pushing for us to do angel investing on a much bigger scale. It's really one of the only ways that we can take an active role in closing the wealth gap. Actually, the wealth gap is never going to be close. We can narrow it, but it's not going to be close. But even to narrow it, we have to do things vastly different. Angel investing is one of those things. Check this out.
Cross that off. Does going to college close the racial wealth gap for black.
Americans? Well, I'm definitely a fan of going to college, but it does close the racial wealth gap. A black head of household with a college degree has 2/3 of the net worth of a white head of household who never finished high school. Cross that off. Yeah.
What about savings? Black people should just stop buying Jordans and save their money. And if they did that, if they saved all their money and were better saved, or they could close the racial wealth.
Gary. Right. So if black people weren't so attracted to bullying, we eliminate the racial wealth gap. Well, the evidence suggests that that's not true either. If anything, if we were to take into account the income of a household, black households save as much as white households. And in fact, in some income categories, black households actually have a higher savings rate than white households.
So if the actual facts don't back up this notion that black people just need to change our behavior and we could eliminate the wealth gap between black and white Americans. Why are these myths so persistent?
Well, I think part of it is ignorance. I think that people have misperceptions about a number of things, and some of these misperceptions are about American history.
