REPORT: White Families Are 5 Times Richer Than Black Families

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From The UK Guardian

A huge wealth gap has opened up between black and white people in the US over the past quarter of a century – a difference sufficient to put two children through college – because of racial discrimination and economic policies that favor the affluent.

A typical white family is now five times richer than its African-American counterpart of the same class, according to a report released today by Brandeis University in Massachusetts.

White families typically have assets worth $100,000, up from $22,000 in the mid-1980s. African-American families’ assets stand at just $5,000, up from around $2,000.

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