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America's Financial Divide

June 1, 2016

 

Hello Clients and friends,
 
Did you Know?
 
““The major sources of wealth for most of the super rich are inheritances and in life transfers. The big reason is racial differences in access to resources to transfer to the next generation.” Darity added that the practices of enslavement, violence, Jim Crow, discrimination and dispossession of property have kept generations of African Americans from accruing the type of wealth that whites in the top 1 percent have today.” 
 
The typical white family earns $50,400, while the typical black family earns $32,038, and the typical Latino family, $36,840.

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