It is no secret that the model of American society creates vast income inequalities. However, it may be shocking to find how much of the scale of this inequality is based on race.
The average net worth of a white family was ten times that of a typical black family in 2016, according to a report from Brookings Institute. Black Americans have tried to build wealth throughout history but were impeded by slavery, congressional mismanagement, and discriminatory policies.
246 years of slavery, the mismanagement of freedman’s savings bank, (61,144 depositors lost nearly $3 million in 1874), Jim Crow laws, a massacre decimating Tulsa’s Greenwood District (known as the Black Wall Street) in 1921 and other acts of violence have consistently kept Black Americans in the lowest socio-economic bracket in America.
Abdullah Imran Tahir 