Tags United for a Fair Economy
Tag: United for a Fair Economy
The 10th annual Martin Luther King Jr. Day report by UFE explains that the Great Recession took a greater portion of wealth from Black and Latino families than it did from White families. Today, the average net worth of White families is, respectively, more than six times higher and 5.7 times higher than the average Black and Latino families. Median wealth disparities are even greater.
A new report released today finds that African Americans and Latinos are experiencing the brunt of the economic recession, from joblessness to foreclosures, and that targeted economic policies are required to address the racial economic divide in the U.S.
As bad as the last recession has been for Blacks in America, recovery might be worse. In the absence of federal policy interventions and without an effective “trickle-up” stimulus plan, Blacks will not only have lost ground during this recession, they will also continue to lose ground during and after the recovery.
The current economic crisis requires more than a color-blind stimulus. It demands a complete economic restructuring that addresses the racial wealth divide.