These Statistics About Race and Wealth in America Are Infuriating

And if we don’t do something, “our vision for racial equity will be impossible to achieve.”

<a href="http://www.istockphoto.com/photo/young-business-children-make-faces-holding-lots-of-money-gm470201459-35093954?st=_p_money%20kids">Andrew Rich</a>/iStock

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Since 1983, black households in the United States have accumulated, on average, seven times less wealth than their white counterparts. And that gap doesn’t appear to be closing anytime soon.

A new report released Monday by the Institute for Policy Studies and the Corporation for Enterprise Development found that the racial wealth gap has grown steadily and, without changes to public policy, could widen over the course of decades. This divide was “no accident,” the report’s authors wrote, arguing that it arose as a result of both tax programs that have favored the wealthy and long-standing policies that kept communities of color from building wealth. “[I]t is clear from the past three decades that our vision for racial equity will be impossible to achieve if we continue perpetuating an economic system that fails to prioritize the ability of households of color to get by, much less ahead,” they wrote.

Here’s what the racial wealth gap looks like today—and how it could look 30 years down the line.  

 

Trump icon: James Francis from Shutterstock; Family icon: Alena Serdiukova from Shutterstock; Money bag icon from the Noun Project.

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

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