Wealth Inequality and the 1%

@the174652159

Just here exploring the relationship between economic and non economic aspects of capitalism that perpetuate wealth inequality in America🤑

Geregistreerd in maart 2019

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  1. Vastgemaakte Tweet
    28 mrt.
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  2. Equity in education, both K-12 and higher-education, progessive taxation; increasing taxes on the wealthy, and expanding homeownership; stricter enforcement of anti-housing discrimination laws, reduction in mortgage/loan principal are among some of the remedies

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  3. To remedy the racial wealth gap, aside from dismantling capitalism, which is rooted in racist idealogy, we must increase the economic mobility of PoC. This economic mobility is stifled mostly by homeownership and education.

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  4. working years, and being utilized mostly during retirement."

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  5. As mentioned in a previous tweet, "homeownership is the largest driver of wealth." According to Thomas M. Shapiro, "wealth builds slowly during one's lifetime and is life cycle sensitive, with wealth building gradually in young families, accumulating mostly during the latter...

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  6. Homeowners are unsurpisingly comprised mostly of white, Asian and Native American households. Consequently, blacks and hispanics have had the lowest homeownership rate, which can be attibuted to the racist housing policies implemented by the government post slavery

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  7. According to statistics provided from the Housing Vacancy Survey by the US Census Bureau, the homeownership rate in the US has remained relatively stable since 1960 when it was 61.9%.

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  8. did not allow Black people to own property and blocked access to the largest driver of wealth, homeownership effectively contributing to the racial wealth and income gap in America.

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  9. Black Codes along with: Andrew Johnson's land policies and share cropping Land Seuizues from the end of slavery until the 1960s The National Housing Act of 1934 The Wagner Act(National Labor Relations Act) of 1935 and The Social Secuity Act of 1935 are all policies that

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  10. In many states these codes required blacks to sign yearly labor contracts; if they refused, they risked being arrested, fined and forced into unpaid labor. Sounds a lot like slavery right?

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  11. Black Codes, passed the same year that slavery ended, were restrictive laws designed to stifle the freedom of Blacks by forcing them to work in a labor market, characterized by little to no wages and debt.

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  13. Slavery ended, but blacks were not truly free. In fact, the enactment of the 13th Amendment only served to amplify the struggles of blacks during Reconstruction, the period that followed the Civil Wars, as evidenced by the introduction of the Black Codes and sharecropping

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  14. 26 apr.

    Sometimes the problem isn’t your budget, it’s systemic inequality and predatory marketing.

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  15. 24 apr.

    Following the gradual emancipation of slaves in the United States, “war capitalism” became industrial capitalism, making the Industrial Revolution an extension of "the economic violence that was slavery." (Beckert)

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  16. 24 apr.

    This distinction between inferior and superior, race, allowed for the former, black and considered not human, at least fully, to be expropriated (unfree and dependent labor) by the latter, whites

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  17. 24 apr.

    Thus, “the hidden abode of race”: the ontological distinction between superior and inferior humans, was a constitutive element of , , theft of lands in the Americas, and

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  18. 24 apr.

    Capitalism was founded on violent expropriation, theft, and murder, what Professor of History at Harvard, Sven Beckert refers to as “war capitalism” the era when colonizers were dependent on cotton imports gathered/prepared through the vicious coercion of forced labor

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  19. 24 apr.

    Received conceptions of capitalism, provided by Marx, which are exploitation-centered, cannot explain its persistent entanglement with racial oppression and specifically 21st century economic conditions

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  20. 24 apr.

    homogeneous to heterogeneous*

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  21. 24 apr.

    We cannot understand this economic crisis without understanding the current and historical nature of race and capitalism in the US, a crisis due in no small part to the intersection of , , and

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