50 since the Civil Rights Act committed this country to narrowing the racial divide, the man of color is still being left behind. Once again, this is Maestro keeping it one hundred reporting to you live from an undisclosed location. Now if you have followed any of my work, you know that I don’t play the race card and this is by no means a plea for help. I firmly believe in order for change to occur one has to take a stance injustice and accept responsibility for his own iniquities. “God bless the child that’s got his own!” You feel me? “Freedom comes with a price…and history has shown, it’s not cheap”. But for those of you who are trapped in a spin cycle, allow me to interject a new detergent.
TRAPPED IN A BUBBLE OF DESPAIR
The Black man’s chance for opportunity pales in comparison to his white counterpart; according to the Federal Reserve Bank of Chicago in a recent report, and him the American dreams is nothing more than just that…(“a dream”). It goes without saying, if the current situation maintains its course, Blacks will probably continue to suffer from lower mobility.
Of course it’s nice to see President Obama and the other well accomplished African Americans who have risen above the ruins of inequity to attain wealth. But during the times of slavery there were always free Black men. This isn’t just a travesty in terms of American history, it’s bad for the economy. The bottom line is, if Blacks are not given the opportunity to rise income disparity will become a lot more severe than it already is. Which will translate into a stressed labor market and a welfare system too frail to continue to survive.
Such stagnation isn’t just troubling in the framework of American history — it’s bad for the economy, said Richard Reeves, a fellow in economic studies at the Brookings Institution in Washington. If blacks don’t have the opportunity to rise, income inequality will become more severe, labor markets more inefficient and welfare rolls more burdened.
Fed’s Findings
Bhashkar Mazumder, a senior economist and research adviser at the Chicago Fed who wrote the bank’s study, found that 50 percent of black children born between the late 1950s and early 1980s who lived in households at the bottom 20 percent of the income scale remained in the same relative position in adulthood. For whites, the comparable figure was 26 percent.
Conversely, about 60 percent of blacks whose parents were in the top half of the income distribution fell to the bottom half later in life. Thirty-six percent of whites showed a similar drop.
A labor market that fails to develop the most qualified people regardless of race makes the economy less competitive, creating a “waste of black human capital on a really quite significant scale,” Reeves said.
Social Assistance
With blacks more likely than whites to receive federal help, boosting mobility would also save taxpayers money, he said. Some 27 percent of blacks received benefits from three or more government entitlement programs in their lifetimes, compared with 14 percent of whites, a December 2012 study from Pew Research Center in Washington found.
“Whether you care about macroeconomic growth or global competitiveness, or whether you just have a basic notion of the United States as a place where people have equality of opportunity — in either case, you should be concerned about mobility and absolutely should be concerned about the black-white gap,” Erin Currier, who directs Pew’s work on financial security and mobility, said in an interview.
The disadvantages of growing up in poor neighborhoods explain up to a third of the racial gap among those sliding down the income scale, 2009 Pew Charitable Trusts research by New York University associate professor Patrick Sharkey found. Residents in those areas may have less political influence, more trouble finding or maintaining a job and more exposure to crime, the report said.
Poverty Rate
Half of black children live in communities where the poverty rate is greater than 20 percent, compared with 14 percent of whites, according to an April report from the Annie E. Casey Foundation, a Baltimore-based charitable group dedicated to helping disadvantaged children.
While Mazumder’s research didn’t try to identify the causes of these disparities, he did find some linkages. Improving cognitive abilities by adolescence will have an effect.
Test scores reflect such things as how much parents read to their children, school quality and peer influences rather than inherent ability, he said. That argues for intervening early in life, according to Mazumder.
In addition, having two parents in the household, as only 37 percent of black children do, improves upward mobility relative to whites, Mazumder’s research showed. Seventy-seven percent of white children live in two-parent families.
At the same time, living with just one adult didn’t cause people to be less well-off than their parent, Mazumder found.
Family Composition
Family composition is “a big factor and maybe the largest factor” in influencing mobility, said Stuart Butler, a distinguished fellow and the director of the Center for Policy Innovation at the Heritage Foundation in Washington. “When you combine that with communities where there’s an environment of pessimism, low expectations, low levels of work — as a child and as an adult, it’s harder to stick with it and do well and to take the steps needed to move up the economic ladder.”
No matter how many times I revisit this subject, it still has the same chilling affect on me but no matter what hole they drop me into, like some of that good haz…I rise! As an underdog growing up in one of the many projects in Atlanta I realized early on that it’s not about where you’ve been it’s where your at! So take a few minutes and pour that on the rocks while I take a break
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