• About Us
  • Our Team
  • Contact Us
  • Blog
Monday, February 6, 2023
OC Partnership
  • Home
  • Business
    • Global Business
    • Local Business
    • Business Ideas
  • Finance
    • CryptoCurrency
    • Forex Trading
    • Personal Finance
    • Savings and Investment
    • Financial Management
  • Marketing
    • Digital Marketing
    • Email Marketing
    • Social Media Marketing
  • Real Estate
    • Buying a House
    • Selling a House
    • Renting a House
    • Investing
    • Home Improvement
  • Blog
  • Home
  • Business
    • Global Business
    • Local Business
    • Business Ideas
  • Finance
    • CryptoCurrency
    • Forex Trading
    • Personal Finance
    • Savings and Investment
    • Financial Management
  • Marketing
    • Digital Marketing
    • Email Marketing
    • Social Media Marketing
  • Real Estate
    • Buying a House
    • Selling a House
    • Renting a House
    • Investing
    • Home Improvement
  • Blog
OC Partnership
Home Society Racial Disparity

Why Does The Racial Wealth Gap Exist?

by Garret Sowards
January 2, 2023
in Racial Disparity, Society
Why Does The Racial Wealth Gap Exist?

The racial wealth gap is a term that refers to the economic disparities between races in America. These gaps are caused by many factors, including differences in income and educational attainment, homeownership rates, and inheritance. But one of the most important reasons for these divides is systemic racism.

The racial wealth gap is a persistent problem in the United States. This divide has many causes, including systemic racism and historical discrimination that have prevented people of color from building assets. These factors are reflected in various economic indicators, such as homeownership rates and income levels. 

The starkest divides are in household wealth. It is the difference between what families own minus what they owe and median family income. In 2016, white households had $171,000 more than black households in net worth (assets minus debt). And while white Americans earned just over $62,000 per year on average that same year, black Americans brought home roughly $36,400 annually.

When you look at the data by age group instead of race or ethnicity alone, you see that young adults across all races face similar challenges related to student loan debt and low wages. But older generations also struggle with these issues. 

For example, African American seniors were twice as likely as their white counterparts to report having difficulty paying medical bills. As we work toward closing this gap through policies like increasing access to affordable housing and expanding tax credits for lower-income families, we must remember how far we still have left to go before everyone can enjoy financial security regardless of race or ethnicity.

Systemic racism has contributed to the persistence of race-based gaps manifest in many economic indicators. The starkest divides are in income and net worth, which means white families have more money than black families. But there’s also a large divide when it comes to unemployment rates as well as incarceration rates (which disproportionately affect black people)

To learn more about the reasons for the USA’s wealth gap, visit our blog page.

Related Articles

How To Reduce Inequality In Education?

How To Reduce Inequality In Education?
February 15, 2022

Most educationalists have to agree that inequality begins with unequal education. Without equal educational opportunities, we can’t expect equality to...

Read more

Leadership Strategies to Help Women Prosper in the Workplace

Leadership Strategies to Help Women Prosper in the Workplace
January 2, 2023

Women have proven time and again that they can be fearless leaders despite having many roles outside their field or...

Read more

What Is The Majority Of Crime Committed By Race?

What Is The Majority Of Crime Committed By Race?
August 30, 2022

There are many different opinions about race and crime in America. The relationship between the two has been a public...

Read more

Which Race Group Is Most Affected By Crime?

Which Race Group Is Most Affected By Crime?
December 6, 2021

The FBI has released its annual report on Crime in the United States. African Americans are consistently rated as more...

Read more
  • Privacy Policy
  • Terms Of Use
  • Cookie Policy
  • Editorial Guidelines
  • Sitemap
  • Write for Us

Copyright © OC Partnership. All Rights Reserved.

  • Home
  • Business
    • Global Business
    • Local Business
    • Business Ideas
  • Finance
    • CryptoCurrency
    • Forex Trading
    • Personal Finance
    • Savings and Investment
    • Financial Management
  • Marketing
    • Digital Marketing
    • Email Marketing
    • Social Media Marketing
  • Real Estate
    • Buying a House
    • Selling a House
    • Renting a House
    • Investing
    • Home Improvement
  • Blog

Copyright © OC Partnership. All Rights Reserved.