Question

What does the development and changes in racial, gender and income inequality mean for the United states today?

Answer 1

systematic Inequality:

The already large racial wealth gap between white and black American households grew even wider after the great recession. Targeted policies are necessary to reserve this deepening divide.

Introduction and summary:

Wealth the measure of individuals or family financial net worth provides all sorts of oppurtunities for American families.Wealth makes it easier for people to seamlessly transition between jobs move to new neighbourhoods and respond in emergency situations. It allows parents to pay for or help pay for their childrens education and enables workers to build economic sustainability in retirement.

• African Americans own approcimately one tenth of the wealth of White Americans. In 2016 the mefian wealth for nonretired black housrholds 25 years old and older was less than onethenth that of similarly situated white households.
• The black-white wealth gap has not recovered from tje great recession. In 2007 immediately before the great recession the median wealth of blacks was nearly 14 percent that of whites. Although black incresed at a faster rate than white wealth in 2016 blacks still owned less than 10 percent of whites wealth at the median.
• African americans have fewer assests than whites and are less likely to be homeowners to own their own bussiness and to have a retirement account. The most recent data available from 2016 show that when blacks owned such assests they were worth siginificantly less than assests owned by whites.

Expand access to community Development Financial Instituations:

Community Development Financial Institutions are banks credit unions and other local financial instituations that support small bussinessand affordable housing and provide other financial needs to distressed urban and rural communities that mainstream banks donot serve. The loans they deliver support efforts such as opening local bussiness and financing for afforadable housing among other efforts all of which support the border community. CDFIs are critical to helping blacks purchase homes.