Extremely anti-white Tweet. What would the median wealth of these groups be if they were in separate countries? Well, we basically have that data and it turns out that US blacks and hispanics are economically better off than in countries fully owned by their own people.https://twitter.com/SenSanders/status/918214886454304768 …
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A few other comments on these numbers: 1. Wealth is strongly affected by age, and whites are older. A 35 year old MD may be making a lot of money yet have a negative net worth.
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2. Wealth is strongly affected by spending habits. Two people may earn the same amount for years, but if one saves more he will end up with much greater wealth.
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3. Wealth is strongly affected by fertility rates. Groups who divide their wealth among more children will tend to have less per person. Whites have had lower fertility than blacks and hispanics for a long time.
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If we're asking, "Is this wealth gap caused by discrimination?", the answer is no.
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You could say, "even so, we should redistribute to make things more even". I would point out that this penalizes savers and low fertility groups. I would also say that those $116k median whites you apparently want to take from aren't exactly rich.
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If you respond, "oh, I just mean we should take some from the billionaires and give it to everyone," then I might agree with you. Keep in mind that communism has a very bad record.
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Since the threading might make #4 hard to find, here it is again: 4. Immigration will tend to increase the wealth gap because: A. Immigrants don't bring much wealth with them B. Immigrants are mostly nonwhite (cont)
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C. Immigration increases labor competition, lowering wages, making it harder to gain wealth D. Increases existing asset prices
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Replying to @HbdNrx
High-skilled immigration given a suitable compensation floor and non-replacement provisions can improve GDP per capita and generate wealth.
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That's so far from our present condition it's hardly worth mentioning.
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Replying to @HbdNrx
Current efforts at immigration reform do seem geared toward moving in this direction, but yes I agree the status quo needs improvement.
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