The wealth gap between white and African American families increased more than four times between 1984-2007, and middle-income white households now own far more wealth than high-income African Americans, according to a new report to be released on May 17 by the Institute on Assets and Social Policy (IASP) at Brandeis University’s Heller School for Social Policy and Management.
The findings also show that African Americans hold more debt than assets and at least 25 percent of African-American families had no assets to turn to in times of economic hardship. The fourfold increase in the wealth gap reflects public policies, such as tax cuts on investment income, which benefit the wealthiest and persistent discrimination in housing, credit and labor markets.
Join the Insight Center's Closing the Racial Wealth Gap Initiative, IASP, and Demos for a webinar that will discuss the report's findings, the reasons for the gap, and innovative policy solutions to close the racial wealth gap and ensure economic security for all Americans.
Jose Garcia, Associate Director for Research and Policy, Demos
Meizhu Lui, Director, Closing the Racial Wealth Gap Initiative
Tom Shapiro, Ph.D., Director, Institute on Assets and Social Policy, Brandeis University
Title: The Widening Racial Wealth Gap and the Future of Our Economy
Date: Monday, May 17, 2010
Time: 11:00 AM - 12:00 PM PDT