Al Sharpton: The Wealth Gap Calls for Immediate Action

While the nation is fixated on a debt ceiling standstill, the number one issue on the minds of Americans — jobs — has largely been ignored. But in addition to experiencing the worst economic downfall since the Great Depression, we are now also officially witnessing the largest ethnic wealth disparity in decades. For those who claim we are in some sort of ‘post-racial’ society, I have news for you: we are anything but.

The Pew Research Center just released a startling and sobering new study stating that the median wealth of White households is now 20 times that of Black households, and 18 times that of Latino households. The data, gathered from 2005-2009, indicates that a typical Black household had just $5,677 in wealth (assets minus debts), while the average Latino household had $6,325, and the ordinary White household had $113,149. And about one-third of all Black and Latino households had zero or negative net worth in 2009 alone.

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  • Goldie G

    I am with you Mr Sharpton and I salute you and others on your unshakeable devotion to our people and humanity.  We have before us a monumental job of changing the mindset of our people. There are many reasons for the wealth gap in our community, and those reasons have been mentioned and talked about. Until we get up off the chairs and get involved in our own survival, we will surely perish as a people.  There are tremendous forces working against us and we must get involved, get educated and change the way we do things. Unfortunately the majority of those who might benefit from the information we get on radio and websights such as this, are not reading or listening, and the ignorance goes on.

  • Focused

    Sharpton continues to see more $,private jets,luxury hotels, luxury cars etc then a “activist” I’ve ever seen! He’s been complaining about black rights for the last 50yrs….what has changed?He is nothing more then a puppet and that msnbc move for check mate.

  • Barbara2

    If the blacks had good schools in their districts to educate our children, we would not have this problem.  This is not a new game.  It has been in the works for years to keep our race in the bottom.  They have used drugs, jobs, preachers, and politicians to work the somke into each district.  Until, we get out of the smoke, pay close attention to the politicians, preachers, and drug dealers, we will die poor.

  • Barbara2

    If the blacks had good schools in their districts to educate our children, we would not have this problem.  This is not a new game.  It has been in the works for years to keep our race in the bottom.  They have used drugs, jobs, preachers, and politicians to work the somke into each district.  Until, we get out of the smoke, pay close attention to the politicians, preachers, and drug dealers, we will die poor.

  • Barbara2

    If the blacks had good schools in their districts to educate our children, we would not have this problem.  This is not a new game.  It has been in the works for years to keep our race in the bottom.  They have used drugs, jobs, preachers, and politicians to work the somke into each district.  Until, we get out of the smoke, pay close attention to the politicians, preachers, and drug dealers, we will die poor.

  • Brainsmasher99

    Zero progress can be made until we get rid of all of these preachers. They are not your leaders. They work for the other team.

    The revs–Sharpton and Jackson–and all of their clones preach the same formula that has not worked: complain about massa, march to massa’s house, beg massa to treat you better.

  • http://www.mosquitonet.com/~prewett/ John Prewett

    Ideology of such as Al Sharpton [and White liberals] is one reason why there is such a great wealth gap.     But the gap may well shrink. As all of USA becomes impoverished.

  • S.T.

    Next time one of our leaders tell us what we already know (or should know ), I hope these statement comes with some REASONS like what areas of income have we lost ground in and why. what black middle class, upper class and lower class are not doing that they should be doing to empower themselves so that this does not continue to happen to them. What specific institutional racist tactics are working against us and most important, SOLUTIONS: How to target the most significant areas by networking. Example, there’s a movement now to decriminalize drug use, as black Americans are disporportionately incarcerated by this. This has had a devastating effect on our families, income and communities. Certain organizations are working with various black police organizations, who are working with black fraternities. They are networking to build a strong enough power force to be effective when adressing the government. As you can probably tell, I don’t nave all the specifics on this, but various black organizations can align, as power blocks, to address and CHANGE those laws/statues that have a negative affect on our community. IT’s like if Oprah, Cosby and Tyler Perry got together to produce a TV station or movie industry of their own. I’m not suggesting this. It’s just to give you an example of how networking and alliances can come together to alleviate
    problems within our communities. It doesn’t even have to be nationwide. This could be done on a local level, where needed. Blacks have BEEN ready to do something like this. We just don’t know what to target and how to get started. This is where our leaders, black websites and black TV stations are failing us. We’re not given in-depth researched studies on ANYTHING. Most of the information given us on the media listed above is entertainment.
    the type of news we get is very digested and is based on news someone else has already put out there. movements that are or have made major changes in our communities should be heavily publicized and any successful tactics should be publicized repeatedly, in case others need to know. Why can’t black publications hook up with other black publications, first before being taken over by corporation? First, specify the major problems that need addressing in our communities and publicize those organizations that are successful in handling these problems. Or state what needs to be do e to handle these problems. it could be ONE national problem to be handled first. MAKE A BIG THING OUT OF ANY SUCCESS. the public has a short attention span. Successes have to be broadcasted over and over. Never let the negative talk sway or dominate our media. I find that most negative people are frustrated people who don’t nave answers themselves. Blacks don’t need to be constantly told things are bad, unless there are some solutions tied to it. We’re in danger economically, as a community. and when you are in danger, you have to drastically change something. These
    are some ideas. I ‘d like to hear more idea, including actual changes that are taking place
    throughout our community. If our media won’t be more informative and constructive, blacks should organize (start writing the stations ) to make the change. You may have noticed,I haven’t mentioned the white power structure. It’s an undeniable factor, but let’s see how far we can go on our own. SOMETHING’S GOT TO CHANGE.