Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (135599)	8/10/2013 11:05:20 AM
From: ChinuSFO	Read Replies (2) \| Respond to of 149317

What I noticed is that you are suggesting a solution without knowing the root cause on why welfare has failed. I agree that the welfare system has failed to achieve its objectives in a large umber of cases. The problem I see with your solution where you say get rid of it and then folks will seek jobs is not necessarily true. They could also take to crimes like theft. robbery, burglary etc. It could go either way.

To: Bread Upon The Water who wrote (135599)	8/10/2013 1:16:45 PM
From: tejek	Read Replies (1) \| Respond to of 149317

White Families Are on Average 6 Times Wealthier Than Black Families Signe-Mary McKernan and Caroline Ratcliffe Aug 06, 2013 34 Comments As we think about the 50th anniversary of the March on Washington, we’re reminded of something National Urban League Director Whitney Young said during that event in 1963: “The hour is late. The gap is widening.” Young was referring to the prosperity gap between blacks and whites. Fifty years later, that large gap remains. On average, white families have six times the wealth of black and Hispanic families. So for every $6.00 a white family has in wealth, black and Hispanic families have only about $1.00 (e.g., $632,000 vs. $103,000). If we look at the typical, or median, family, the wealth values are lower (e.g., $123,800 vs. $15,700), but the ratio is larger: 8 to 1. The income gap, by comparison, is much smaller, although still substantial. On average, white families have twice the annual income of black and Hispanic families. For every $2.00 of income white families earn, black and Hispanic families earn $1.00. While these ratios have not changed much over time, the size of the gap has grown. The average wealth of white families was $230,000 higher than the average wealth of black and Hispanic families in 1983. This gap grew to over $500,000 by 2010. There is another dimension to this disparity. The wealth gap between whites and people of color also grows sharply with age. Whites in their 30s and 40s have about 3.5 times more wealth than African Americans and Hispanics in the same age group. By the time they reach their early to mid-60s, whites have seven times the wealth of African Americans and Hispanics. In other words, the average wealth gap has grown over time, and it also grows over the course of people’s lives. What does the wealth gap mean? Although the United States is one of the wealthiest countries, this prosperity remains out of reach for many Americans. Blacks and Hispanics, who strive to make a better life for themselves and their families, are not on the same wealth-building paths as whites. They are less likely to own homes and retirement accounts, so they miss out on these traditionally powerful wealth-building tools. Families of color also lost a greater share of their wealth in the aftermath of the Great Recession. Wealth is where the economic opportunity lies. A common misconception is that poor or even low-income families cannot save. Evidence from savings programs and research shows they can. But social safety net programs emphasize consumption, and many even discourage saving by making families ineligible if they have a few thousand dollars in savings. Wealth-building policies, on the other hand, are delivered as tax subsidies for homeownership and retirement. Families of color are less likely to be able to use these tax subsidies, so they receive little to no benefit from them. Without fair policies, paths to building wealth can vanish. Reforming policies like the mortgage interest tax deduction so it benefits all families, and helping families enroll in automatic savings vehicles, will help improve wealth inequality and promote saving opportunities for all. http://www.theatlanticcities.com/jobs-and-economy/2013/08/income-gap-white-families-make-twice-much-black-families/6436/

To: Bread Upon The Water who wrote (135599)	8/10/2013 1:21:30 PM
From: tejek	Read Replies (1) \| Respond to of 149317

You're deluding yourself. Those future children will not remain unborn. Some children will be born to single parents that is for sure if welfare is ended, but we won't have a system spring up that fosters 80 percent of births in the black community to a single parent and 40 percent single parent births in the white community. I'm not deluding myself about those statistics. Its not welfare that causes blacks to have children.........its lack of info; unprotected sex, drugs, a desire to be a parent. Watch Jerry Springer some time.