Key Factors Affecting a Black and White Man’s Wealth Gap

According to a study, black boys who are raised in a wealthy family are more likely to grow up in poverty when they become adults compared to their white counterparts. A recent study from the U.S. Census Bureau, Harvard University, and Stanford University state that there are certain forces that are preventing black men in the U.S. from developing a stable economic life.

In a report released by the New York Times, they broke down the main key points showing the salary gap between black and white men. It also indicates how the disparity is mainly driven by the projection of how black boys grow up as black men. Meanwhile, black women experience a smaller disparity in the wealth gap compared to their white peers.

Here are some of the key factors indicated in the report from the New York Times.

Black boys who grow up in the richest families in the U.S. will more likely live in poverty as an adult compared to their white peers.  

The study shows that white boys who are raised in wealthy families grow up as rich adults. Meanwhile, black boys are more likely to become poor growing up. Even though they earn the same bracket of income as their parents, black men still earn less than white men. This wealth gap will only become worse in cities and neighborhoods that have a low poverty rate.

The salary gap between black and white people are bigger than any other group. Based on research, it is very clear that black people are facing challenges that are targeted to their race. When it comes to whites and Hispanics, the disparity is smaller.

The only group that is closer to the difference between blacks and whites is the Native Americans. Still, African Americans remain to have the widest gap.

The myth that black people have a slower cognitive skill which is why they earn less than white people is not true. This argument presented is nonsense. Apparently, this issue was raised based on the test scores of black boys and girls. According to a sociologist in Stanford, David Grusky, the more likely reason is that the test scores of black children don’t accurately measure their abilities.

Black boys raised in wealthy families are likely to be incarcerated as white men whose families averagely earn $36,000 annually. Statistics show that 21% of black men who grew up from the lowest income families were also incarcerated.

Read the original story via Colorlines.