Another "State of Black America" report. Another drive to have the SYSTEM (the government and standing corporations) to change their ways so that African Americans might participate more fully in the nation's economy.
Just as I heard this morning on C-SPAN there is common belief among people that "this country is still racist and thus distributes economic resources in accordance with skin color" the report by United for a Fair Economy comes as no surpise. They and other progressives believe that income is "distributed" rather than "FLOWING TOWARD a person" based on their possession of something of value that the market wants.
United for a Fair Economy seeks to promote the "value" of the people as human beings as the main determining factor as to the resources that they receive.
Ironically this same process of "promoting the value" of otherwise healthy human beings also degrades them as they are not asked to allow their actions, intelligence, focus and temporance to be the primary contributors to their standing in life. The future prosperity of poor people is a function of the appropriate "progressive" policies being implemented - rather than these same people focusing upon having people develop and then marketing elements that are of value in the market place.
When the nation is in a recession, African Americans are in a depression.
The Silent Depression: State of the Dream 2009, a report issued today by United for a Fair Economy, says blacks live in poverty at three times the percentage of whites.
Despite the historic inauguration next week of an African-American man as president of the United States, an economic racial divide is stark, the report says.
Issued in connection with the observance of Martin Luther King Jr. Day, the report says nearly 12 percent of blacks are unemployed, a rate nearly double that of whites.
“Eliminating the racial wealth divide is an essential step toward eliminating institutional racism,” the authors say.
The analysis also details the Latino poverty rate, which is more than twice that of whites, and Latinos’ relatively high unemployment, currently between 9 and 10 percent.
The Fair Economy organization advocates reduction in the wage gap in America and is particularly critical of high CEO compensation in the face of job loss and wage stagnation for workers.
The report emphasizes that wealth accumulation is necessary to move higher on the economic ladder.
“People of color are more likely to be poor, remain poor, and move back into poverty from any income class status than their white counterparts,” the report says. “Nearly 30 percent of blacks have zero or negative worth, versus 15 percent of whites...
“On the median, for every dollar of white wealth, people of color have 15 cents. On the average, people of color have 8 cents for every dollars of white wealth.”
The full report is accessible online at the Fair Economy site.
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