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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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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