Inflation Nation: The Wealth Gap Isn’t a Game for Black America
By Hiram Jackson Fresh off of the Juneteenth and the Fourth of July independence celebrations, most Americans are getting back to business and addressing the sometimes arduous challenges of everyday life. In particular, financial challenges are a fact that is becoming more difficult and even taxing for many Americans, particularly Black Americans. Historically, Blacks have suffered severe economic and wealth disparities coupled with the educational and social inequities that have been an ongoing reality for centuries in our daily living. True, these issues were exacerbated by the pandemic, but even before the pandemic, we were
It Pays to Give: How Philanthropy Can Fuel Generational Wealth
On the road to wealth, giving away money does not immediately come to mind as a part of that journey. President & CEO of Alexander Legacy Private Wealth Management, Jacqueline Campbell, says that should not be the case.“Most of your major philanthropists talk about giving. If billionaires are talking about it, why aren’t we? You don’t amass your wealth that way, but you attract it when you are a giver.” Campbell has more than 25 years of experience in the wealth management industry. She managed an investment team
Student Loan Debt Widens Racial Wealth Gap
NNPA NEWSWIRE — With the freeze placed on student loan repayments set to end Dec. 31, Biden has gotten behind the Democrat-led House’s HEROES Act, which calls on the federal government to pay off up to $10,000 in private, nonfederal student loans for economically distressed borrowers. “People having to make choices between paying their student loan and paying the rent … debt relief should be done immediately,” Biden stated during a news conference on Monday, November 16. By Stacy M. Brown, NNPA Newswire Senior National Correspondent President-elect Joe Biden
Wealth gap over last two decades costs $2.7 trillion in Black income
Wealth gap costs over last two decades: $2.7 trillion in Black income, $16 trillion to U.S. economy By Charlene Crowell America’s persistent racial income and the wealth gap reality are the result of four intertwined factors: housing, education, business ownership and access to credit. Closing these gaps would facilitate inter-generational wealth creation for Black America and also expand the nation’s economy by $5 trillion over the next five years. These findings come from an extensive report newly-released by a major bank. According to Closing the Racial Inequality Gaps: the Economic
Black households earned 61 cents for every dollar of White median incomes
Nationally in 2018, Black households earned 61 cents for every $1 of White household median income. Further, the Black/White median household income gaps ranged from 87 cents per dollar in Maine and Hawaii, down to 32 cents per dollar in the District of Columbia. The disparity in median translates into 22% of all Black Americans living in poverty, a gap of 13% compared to Whites who are poor. Wisconsin’s gap is 23%. “In noting the socioeconomic indicators of median income, poverty rates and health insurance rates, I found