A tweet from the Center for Retirement Research at Boston College:
Today is #EndPovertyDay. Without #SocialSecurity, a typical white household has 5 to 7 times the wealth of a minority household, but adding in Social Security reduces the gap to 2 to 3. Learn more: bit.ly/36aJ6EV #EndPoverty #PovertyEradication #RDRCResearch
I don't know why they don't just compare low-income families to high income families if they want to talk about ending poverty. Why drag race into it? Some people will interpret these numbers as saying Social Security is there to help minorities, just as some people believe that about what used to be call "welfare," even though most recipients were white. But since they are using race, they didn't bother to factor in the life expectancies of different races in calculating the value of Social Security.
ReplyDelete@12:21
ReplyDeleteHuh, my first thought was that it's obvious that race isn't a factor when everyone has an even playing field, or at least more even, like in retirement/fixed income scenarios, and this is more an demonstration that race plays a significant roll in the private sector.
Poverty will never end. No way to do it. None.
ReplyDelete
ReplyDeleteToo much emphasis on race these days, including with this study.
I think ya'll are missing the real issue here. Average Retirement wealth is falling, and it's falling FAST. Regardless of ethnicity.
ReplyDelete@Tim
ReplyDeleteHmm...that's a good point. It's roughly half in 2016 what it was in 2004, across the board.