What We Get Wrong About Wealth Inequality AND Racial Wealth Gap in America | BLACK FINANCE

Hey Youtube! Here I explain some of the things we get wrong about closing the racial wealth gap. I breakdown 10 myths on how black people can pull themselves up by the bootstraps and catch up with white people when it comes to personal finance and economic / wealth inequality.

Most of my research comes from a study done by William Darity Jr., Darrick Hamilton, Mark Paul, Alan Aja, Anne Price,
Antonio Moore, and Caterina Chiopris
Samuel DuBois Cook Center on Social Equity
Insight Center for Community Economic Development

10% Of all proceeds from my channel will go to #BlackLivesMatter

"Black labor white wealth" needs to be left in history. I believe black wealth and white wealth need to be based on merit and not complexion.

Thanks for taking the time to educate yourself! Let's fix this

[Amir-umql]

One major issue with the data that this video missed and most analysis is that racial wealth gaps and racial income gaps is based on household income. The vast majority of black households have one parent earning income while other races have much higher marriage rates. You can’t expect a single mother to have the same income or build generational wealth as that of a two parent household. If we continue to have the same low marriage rates we will never close the wealth gap.

[realdealfam]

Awesome work and we will continue supporting your channel, keep up the good work Brother.

[jasonhoge]

Just as an FYI, it’s median net worth. Not average.

[garywilson]

It was interesting to hear how you view things. I view them differently but that doesn't diminish what you think. I think, though, that more people enjoy people comfortable in their own skin. I know when I am negative people turn off.

[anthonybrink]

Black women are twice as likely to own a luxury vehicle than a white woman.. and white women are 10x more rich.

Figure that one out in your next video.

[TheNeighborhoodFinanceGuy]

This video is funny. He starts with every reason why we can’t close the wealth gap to include financial literacy and ends with on the next episode, “I’ll teach you how to use the little you do have to build wealth.” That’s gotta be peak cognitive dissonance.

[terrybrown]

Creating wealth is a personal choice. The analogy with the two houses makes absolutely no sense. I am black and I am really disappointed in your approach. You didn’t mentioned one thing Blacks can do to improve their own lives. We are not victims!!!!

[matthewfittro]

What specific policies do you want to see in place? Until we can define what we want to be changed as a community we won't know what policies to support... I'm writing a research paper on Redlining which is how I found your video & while you have a lot of great points you're lacking evidence on the other side of the argument. I think the best way to tackle the racial wealth gap would be to not only eliminate the policies currently in place that create redlining but also put new laws in place to encourage less segregation amongst neighborhoods. Awesome video man!!!

[lisapastor]

Great video! Keep it up, David. New subscriber here. DEFUND THE POLICE.