Rep. Barbara Lee: ‏ This is what structural racism looks like.

[BeckyDem]

By 2020, white households are projected to have 86X more wealth than black households. This is what structural racism looks like.
We need to build wealth for ALL Americans – but @HouseGOP keeps passing bills that prey on black & Latino families while billionaires hoard wealth.

Link to tweet

Median wealth of black Americans 'will fall to zero by 2053', warns new report

Study predicts huge and growing gulf between white US households and everyone else could be disastrous for future of America’s middle class

Growing up in the projects of Baltimore in the 1980s, things like savings accounts, stocks and bonds were completely foreign to Mysia Hamilton. Asked if her parents could have passed along some money to help her buy a car, go to school or put into a house, she can’t help but chuckle.

“No, that wasn’t there. There was no wealth. My mother was working, she was providing – we weren’t on the street begging – but there was no money in terms of ‘here you go’. No money to pass down.”

https://www.theguardian.com/inequality/2017/sep/13/median-wealth-of-black-americans-will-fall-to-zero-by-2053-warns-new-report?CMP=twt_gu

[Igel]

1. I've been lumped in with Gates, I see.

And so's my mother-in-law, with her pension, 3 dependents, and no savings.

[DavidDvorkin]

2. Yes. Talking about total wealth owned by white households is meaningless.