Wealth disparity between blacks and whites in America becomes more apparent
Despite African Americans in the US making up 13% of its population, the minority group reportedly only earns 3% of America’s wealth. The statistics are alarmingly similar to the current war on racism in the States as many activists are pointing out the governmental and institutional bias surrounding black Americans.
Since slavery was abolished over 150 years ago, the amount of wealth that black Americans own is not much different than before as it has only increased by around 2.5%.
The promise of land and wages for the former slaves never happened as current estimates that over 40 million acres would have been appropriated to the minority group, resulting in a net worth that far exceeds the current 3% of reported ownership by African Americans.
The real problem surrounding the minuscule ownership numbers may not even be broken promises as the government and almost all institutions are under fire for systemic racism-something that is so impactful that if not fixed, will see even more minorities falling well below poverty lines. And those in poverty already know what a 13 trillion gap between them and their white neighbours feels like.
Some of the recent protests are bringing the problem to mainstream discussion, that America has a large problem that needs to be addressed and more people are rising up to protest, especially after multiple police shootings of unarmed black men have made worldwide news.
SOURCE: Reuters
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