Obama’s America: Typical White Household Has 16 Times The Wealth Of A Black One
Th median white household had $111,146 in wealth holdings in 2011, while black families had $7,1113 in wealth holdings.
The United States is becoming much more racially and ethnically diverse. At the same time, it’s becoming more unequal in terms ofwealth and income. These two trends are combining in an uncomfortable way: the wealth and income divide is happening along racial and ethnic lines.
The typical black household now has just 6% of the wealth of the typical white household; the typical Latino household had just 8% , according to The Racial Wealth Gap: Why Policy Matters, by Demos, a public policy organization promoting democracy and equality, and the Institute on Assets and Social Policy.
In absolute terms, the median white household had $111,146 in wealth holdings in 2011, compared to $7,113 for the median black household and $8,348 for the median Latino household. (All figures come from the U.S. Census Bureau Survey of Income and Program Participation.)
93% of blacks voted for Democrat Barack Obama in 2012.