Racial Economic Inequities

RACIAL ECONOMIC INEQUITIES
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* Introduction
For generations, race and racial inequality, whether measured by income or wealth differences between richer and poorer households, has had a significant impact on American history. As a result, the focus of this article is on American society as a whole, as well as the rich and policymakers in particular. Familiarize them with the consequences of the failure to eliminate systematic racism from both a moral and economic standpoint.
* Body
Today in different times and places racial boundaries are drawn in very different ways. This disparity has greatly affected the minority race such as Black Americans who have fared far worse in terms of the economy than white Americans. Nevertheless, it is a mistake to think of racism as something that only affects the lives of African Americans, Native Americans, Asian Americans, Latinos, and other racially defined “minorities”. Racism has profoundly shaped American society and economy in ways that deeply affect the lives of white Americans as well, particularly the lives of working-class and poor whites. As a result, today what seemed a disadvantage for one race of people has become a major disadvantage for anyone. People are facing low incomes and social problems like insecurity due to increased robberies and demonstrations, from black America who are willing to fight for their rights. Causing most black and white Americans to be exposed to the chronic condition of stress. Which affects their psychological or physiological health (Kraus et al., 2019).
* Augments
As we have discussed economic racial inequalities in America have been presented in different forms by the government and it is the main cause of the wealth gap today. For example, Black Americans’ wealth has been reported to be destroyed in past by the white Americans and is still happening in some parts of the country. A good example was the Tulsa case in 1921 (Magazine, et al.; 2022). SGreenwood’s black capital was destroyed and it was never compensated. Given that these extraordinary asset losses, combined with long-term high unemployment, have left the black American economy weaker. The government of America has gone further by implying financial policies such as the trickle-down effect, which, according to its way of operation, only serves to make the poor poorer and the wealthy richer. As a result, since the Civil Rights era in the 1960s, collected data show an increasing disparity in median wealth between races and ethnicities in America (Kraus et al., 2019).
* Opposing view
However, racial inequality may not be the main cause of America's economic disparity. According to other studies, even some white Americans are affected by the income disparity. The wealthy and dynastic are said to have enough political clout to reduce their taxes to nearly nothing, if not nothing at all. The poor, on the other hand, will have to pay for everything, and yet it is the robber barons who benefit from the vast wealth and financial struggles of ordinary Americans (Chetty et al., 2019). Furthermore, these workers face lesser pay, fewer housing advantages, fewer educational prospects, and a lack ...