Racial Wealth Gap Rising In USA Between White And Black Baby Bond Scheme Introduced To Combat Racial Economic Inequalities

Racial Wealth Gap in America: India is the largest democracy in the world, while America is counted among the oldest democratic countries. America has always been proud of its democratic ideals, but this truth is also not hidden. The discrimination of color is clearly visible between America’s claim of equal participation for all in democracy.

White family has 81 times more wealth

Apartheid in America is such that for most black Americans, affording a home or college is no less than a dream. According to the DC Council, white families have 81 times more wealth than black families in Washington. Since 1980, the gap between whites and blacks on economic basis has been increasing. According to data from the Federal Reserve Survey of Consumer Finance, in 2019, the white family had an average asset of $ 1,84,000 while the black American family had an average asset of $ 23000. According to McKinsey, if this economic gap is not reduced, then by 2028, it could cause a loss of $ 1.5 trillion to the US economy. Due to economic inequality, the relationship between white and black Americans has reached a two-decade low.

Growing economic inequality on the basis of color

The economic disparity between Black and White Americans can also be understood from the figure that the 400 richest Americans have more assets than 10 million i.e. 10 million blacks. The black family has 3 percent of the total household wealth while the 400 richest Americans have 3.5 percent of the household wealth. And more rich Americans are white.

Trying to bridge the gap with baby bonds

To reduce this growing gap between white and black, Baby Bonds have been brought there. Under this program, $ 1,000 will be deposited in the bank account of each child. This will ensure that when these children grow up, they can make a great start in life. Through this concept, it is expected that there will be help in reducing the discrimination on the basis of colour. There is a baby bond for those whose income is less than a certain limit. With this, economic discrimination on the basis of color can be reduced.

When a child turns 18, that $1,000 will increase to $25,000. So that he can get education. One can start a business or save for one’s retirement. Governments are coming up with schemes like baby bonds in different states of America. For example, California has brought a scheme for children who lost their parents in the Corona epidemic.

read this also

Raghuram Rajan: Raghuram Rajan said on the speculations of joining politics, I am very happy with my work

Kristin Cavallari, 37, claps back at critics after debuting relationship with Mark Estes, 24

Kristin Cavallari had a few choice words for those criticizing her new relationship with Mark Estes, who is 13 years ...

All About Norman Reedus’ Son Mingus Lucien Reedus

Mingus Lucien Reedus is the only child of actor Norman Reedus and model Helena Christensen. The former couple met through ...

Hardik Pandya Amitabh Bachchan Dialogue Rishte Me To Hum Tumhare Captain Lagte Hai Watch Viral Video

Hardik Pandya, IPL 2024: Hardik Pandya will be seen as the captain of Mumbai Indians (MI) in IPL 2024. After ...

Yuzvendra Chahal Wife Dhanashree Photo With Pratik Utekar Goes Viral

Dhanashree Verma Pratik Utekar: Indian cricket team player Yuzvendra Chahal is staying away from international matches. He played his last ...

Indian wicketkeeper batsman Rishabh Pant played marbles with children, watch viral video here

Rishabh Pant playing with children: Rishabh Pant is away from cricket these days. Pant, who is recovering from injury after ...

World Test Championship Team India tops the points table before Dharamshala Test

World Test Championship Team India: A five-match Test series is being played between India and England. Team India has performed ...

Bangladeshi Cricketer 92 runs spent in 4 balls, then banned for 10 years…You will be shocked to hear the story of Bangladeshi bowler.

Sujon Mahmood Unwanted Records: In the game of cricket, we often get to see something unique or hear many such ...

Relaxo Footwear: This footwear manufacturing company made investors rich

Shoe-slipper manufacturing company Relaxo Footwear Limited is also doing wonders in the stock market. This company has earned such great ...

Byjus Crisis Valuation cut by Macquarie Capital up to 98 per cent due to this reason

Edtech company Byju's is continuously facing troubles. The problems of the company which is facing financial problems are not showing ...

Virat Kohli: Former Indian legend got angry at Virat Kohli, said- We do not need you

Virat Kohli: Sunil Gavaskar, one of the world's greatest batsmen, has left cricket many years ago, but he still remains ...

Leave a Comment