The desire for sustainable socio-economic advancement shapes the lives of all Americans. Wealth can be passed on generationally. Access to opportunity for advancement, in part, determines economic outcomes. In the United States, access tends to be distributed disproportionately between Whites and Blacks, with black having a more limited opportunity structure. Socio-economic status and racial background are often synergistic in determining one’s ability to create and maintain wealth and improve the life chances for their families to the third and fourth generation. While America is a prosperous nation, the adverse effects of poverty still remain. The pernicious social outcomes of poverty are most acute in minority communities.
In 2007, poverty rates among Blacks and Hispanics were 24.5% and 21.5% respectively, while non Hispanic whites trailed at 8.2% according to recent Census Bureau data. Examining statistics on median incomes in 2007 across racial groups, one finds that Black households had the lowest income of $33,916 in comparison with Hispanics at $38, 679, with both lagging behind non Hispanic whites at $54,920. Indeed ethnic minorities experience income disparities. However, parity is a possible and poverty does not have to be an unending cycle. Individuals must have information in order to create wealth in their everyday lives!
SPOTLIGHT ON WAR ON THE WAR
Many politicians and special interest groups are currently advocating for energy policies that have unintended consequences on minorities and the working poor. Policy makers are promoting policies that increase the price of energy and those living on fixed income are disproportionately affected by the rise of energy prices, with significant portions of their monthly income automatically designated for energy necessities. As Americans earmark a lion’s share of their income toward energy needs, their ability to use their income to engage in ventures that will allow their money to begin to make money decreases. In essence, policy makers impede their rights as Americans to pursue economic advancement. Stopwaronthepoor is a movement dedicated to ensuring economic stability for the more vulnerable members of society, such as minorities and the working poor.
While minorities experience higher rates of economic disenfranchisement, there is still capacity to create wealth in our community. Black business leaders have a unique role in revitalizing and restructuring of the entire nation - both urban suburban. It has just been a little over 50 years since the beginning of the modern civil rights movement. Since then, the black middle class has quadrupled in size and great strides have been made in alleviating the sting of poverty for many black families. Yet, lack of home ownership is still one of the most discouraging aspects of poverty in America. Less than 50 percent of black families own their own homes today. Black leadership across the board is coming of age - entering into the mainstream of our society and has the capacity to move not only blacks, but the entire nation into their own unique promised land.