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Cory Booker Baby Bonds proposal to reduce the racial wealth gap for young adults
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[QUOTE]Originally posted by Tyrannohotep: [QB] [QUOTE]Originally posted by Ase: [qb] [QUOTE] It’s a pretty stark divide: Zewde estimates that in 2015, the median white person aged 18 to 25 had a net worth of $46,000. The median black person, by contrast, had a median net worth of $2,900. That’s a ratio of 15.9: White young people were nearly 16 times richer than their black counterparts.[/QUOTE]Median wealth between 18-25 year olds may be that high, but when factoring older whites, that wealth gap more than doubles. Inevitably, the wealth of older whites will be transferred to whites presently 18-25. While his plan might offer some relief, it would not almost close the wealth gap. It sounds like they assume the money older whites have will just disappear and that only the wealth younger whites have will remain. [/qb][/QUOTE]Agreed. Not to mention, a lot of young people across races are already dependent on their elders nowadays. There's a reason they call us the "Boomerang Generation". In large part, this is because it's ridiculously hard in this day and age for us to make enough money to afford living on our own away from our parents. Even finding a decent job in the first place isn't easy. This can be a problem even for young white dudes like myself, though I'm sure people of color have it even worse for reasons we all know very well. [/QB][/QUOTE]
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