How America Created Its Shameful Wealth Gap with Robert Reich

How America Created Its Shameful Wealth Gap with Robert Reich

“You drink too much coffee.” “You eat out too much.” “You shouldn’t buy that fancy phone.” “You don’t know how to budget.” “That’s why you don’t have any money.” Maybe you’ve heard these reasons for why you’re struggling to get by. People of color hear them all the time. They are lies. Listen up. To understand this struggle in America, we have to look at the role of race in our economy. For people of color in the US, the root of
our financial insecurity stems from institutional racism and white supremacy that has existed
since the founding of this country. Let’s start with home ownership. Buying
a house is supposed to be the way middle class Americans build wealth. Of course, these days
many Americans are struggling to make this dream come true, and for people of color it
used to be practically impossible. And that was by design. By design. Starting in the 1930s, black people in this
country were systematically denied the opportunity to purchase homes because of a racist scheme
called redlining. Majority black and brown neighborhoods were literally colored in red,
and shut out of home loans. The past plagues us today: 60 percent of those redlined communities
remain low-income minority neighborhoods. You’ve heard of subprime mortgages, right?
Those products that wrecked the economy in 2008 and destroyed Black & Latino wealth?
Well, they were generated during the redlining era. Housing is just one bit of institutional racism
that hinders the ability of people of color to build wealth. That’s to say nothing of
slavery and Jim Crow laws, which led us to mass incarceration— but we’ll get to that
in a minute. Let me catch you up. So, acknowledging that
the past was rigged, we can better understand our present. And in the present, the racial
wealth gap is enormous. And when I say “wealth,” we’re not talking
about being rich. Wealth is what you own (your house, car, savings, or business), minus what you owe — credit card debt, student loan debt, fines, et cetera. Getting things you can own, like a house,
or something that grows in value over time, like education, is often a result of what
your parents are able to help you with. And in the case of many people of color, our parents
aren’t able to contribute much financially, if at all. Over generations, black and brown
families become shut out from acquiring the cornerstones of wealth. And that’s how we get situations like this
today: Listen to this. For every 100 dollars in white family wealth, black families hold just 5 dollars and 4 cents. Another one. Even when Black and Latinx households
earn a solidly middle-class income, they accrue just a fraction of the wealth of White households. Black and Latinx families headed by a college
graduate have less wealth than families headed by white high school dropouts. And this one is unreal. By the middle
of the century, Black and Latinx median household wealth will nearly be zero. Hopefully, you’re starting to understand
how shaming people — especially people of color — for a cup of coffee or a nice dinner
out is ludicrous. It’s time for a reckoning. But that is not
what is happening, policymakers and wealthy corporations are doubling down on inequality. Look no further than the 2017 Tax Cuts and
Jobs Act. According to one study: On average, White households received an estimated 2,020
dollars in cuts, while Latinx households received just 970 dollars, and Black households received
840 dollars. Shameful. It’s shameful, for example, that
while worker productivity is up, wages are not rising for Black and Latinx workers. And remember when I mentioned mass incarceration?
It is yet another profit-driven predatory system that strips savings and earnings from
people of color. We make up 67 percent of the prison population, despite only being
37 percent of the U.S. population. Our families, especially women, spend billions of dollars in unfair fines and fees that cause financial instability and, too often, multigenerational
poverty. Mass incarceration and detention determines both economic and political outcomes
for too many families of color. Policing the minute decisions about how people
of color spend their disposable income is a distraction. It’s a distraction from the
systems of injustice we have collectively and historically created and continue to perpetuate. You have the power to bring truth to light.
You know the real story, so write it, tell someone, tell us. We know that in order to
have survived in a country we’ve been told is not ours, people of color have been and
continue to be resilient, entrepreneurial, and deserving. Tell us your story of resilience, tell your
policymakers. Press candidates to tell you what they are doing to upend racial wealth
inequality and make it easier for you to pay that next bill, to afford healthcare and a
home, to send your kids to college, to save for retirement. Tell them you deserve no less
than a robust plan that rewrites our future stories. Briefly, how’d it feel to do a video with
us? It was great. This is such an important topic
that everyone needs to focus on. We just have to keep talking and telling the truth about
what’s happening. Well, education and truth-telling, particularly at this time in our nation’s history, could not be more important. Agreed. Agreed. What other lies are you sick
of hearing when it comes to this issue? Go ahead and let us know in the comments. And if you found this video informative, please also check out our video on Why We Need a Wealth Tax. Thank you for watching and please subscribe
to this channel for more videos like this one.

100 thoughts on “How America Created Its Shameful Wealth Gap with Robert Reich

  1. The New deal made everybody rich except black people and white people have been prospering from that money every since

  2. This was all so true. Our system is broken and our resources need to be redistributed so that everyone benefits. On that note, please register to vote in the Democratic primary and vote for Bernie Sanders.

  3. Making the horrible wealth inequality a race thing only further exacerbates the problem. This is exactly why these problems don't get fixed. We are obsessed with labels. Especially race, and ethnicity labels. It's so unfortunate. So many people are suffering right now . It's so shameful to promote diversity in a way that puts races in competition with each other. This was not MLK's vision. His vision was a world that doesn't see color

  4. Dividing race is a bad idea. It should be poor and middle class against the rich. Dividing white against black and brown just empowers the wealthy. We attack each other and leave wealthy alone. We can’t walk and chew gum at the same time on this issue.

  5. Unfortunately, this video is way too complicated for the residents of WingnutWorld. Just the story of red-lining would take hours to explain and even then, it would be rejected as fake history.

  6. 1:26 but…. You just explained why redlining was done, and how it was a logical, and not racist. Those areas had a higher chance of defaulting, and when they gave them loans, they defaulte, and crashed the economy

  7. Thank you guys for this message. I have known this, however, you broke it down historically.💞✅

  8. What struck me was the graph showing that people of color now make up 37% of the nation. That is not some minority you can ignore. I think racial injustice is disgusting and unethical. But economic injustice against 37% of your population does not even make business sense. This is insanity. I agree that we need a reckoning – we are way beyond policies that just adjust the status quo. We need to be ticked of to the point of revolution and demand an upending of this horrific system. As a white male I'm embarrassed and ashamed. Time to fight.

  9. 99% of the world's population is in direct competition with each other over 1% of the world's wealth, while 1% of the population is in control of the other 99% of wealth. This is obscene. Regardless of race or skin colour, this imbalance cannot be allowed to continue. For every single hyper-wealthy person, there are 77 million people who fall outside that category, most of whom cannot feed or clothe themselves. This has nothing to do with 'grit' or 'determination' or 'skill', this has everything to do with the fact that money = power, and the rich and powerful create (and have created) a system that benefits only them at the cost of literally everyone else. Just because it is (perhaps) legal under existing laws (that the rich and powerful created) does not mean it is not a crime against humanity of the highest order. If people die for a pittance in an Amazon warehouse because they are literally working themselves to death for Bezos' next big paycheck, that is criminal.
    If millions die in climate crises in the years to come because the rich and powerful willfully ignored the warnings and purposely spread misinformation, then those deaths should be laid at the feet of those people who did nothing (or worse than nothing). A reckoning is needed, a big one, and fast, because the hyper-rich are going to be the death of us all.

  10. As part of the comment a bit of background story. I am a foreigner to the states (an immigrant) but I am white and from Scandinavia so to most I guess I can count myself among the lucky.

    And now to the comment: I am 100% with you (the presenter) but to really push forward the war on the huge wealth gap in America I think it would be productive to create alliances with some of the low income ‘racist’ Trump voters. The wealth inequality is so big in the states that a very few have it all and most have none. The statistics are misleading when they describe white as being of the same ‘tribe’. I think there’s a lot of marginalized poor white people that can’t recognize the generalized pictures being painted of them being better off. The gap is also an issue of race but it is even more, I think, a war between the have and have nots. If we want to win this war we need all the allies we can get. Poverty creates racism. In a more equal society there will still be racists but only the fanatics will be left and they are usually beyond reach. We need to convince the poor (probably primarily from the southern states) that color is NOT the enemy but greed is. And we need to go after them all, also the so-called good billionaires like Bill Gates and Warren Buffett and Bloomberg! There’s just something plane wrong when your personal wealth is bigger than the gdp of a small country and that while normal hard working patriotic Americans (of any color) can’t make ends meet. It time to go to war. Let’s sacrifice the few for the betterment of the many.
    (Reading guidance: remember that the pen is mightier than the sword).

  11. Even as I am disappointed that there were no cartoons to depict the essence of the story, this was powerful truth telling.

  12. White people need to understand, they always practice on us first. And if the white majority doesn't kick up a fuss when it happens to Black people, they'll keep those laws and rules on the books. That prison complex can't remain profitable, they will have to look beyond those minority communities and into the white one. The housing collapse sounds like redlining, but aimed at white people.

  13. I didn't receive a cut at all and my household is white and Asian. In fact we owed in the first year $600 more. In the second year $1,200 more. In the third year $1,600 more.

  14. As a matter of fact they keep low income persons in debt by targeting them with ads designed to make them slaves to who they owe.

  15. A growing gap in wealth also means more risk for social unrest and higher crime rates, so even the wealthy have an interest in more social equality if they don't want to lock themselves into gated communities.

  16. I'm tired of hearing the myth that black families are all fatherless. Tired of hearing that welfare mostly goes to blacks, who are all crack addicts. I'm tired of ALL the lies about blacks and Latinx that are so easily refuted by opening one's eyes to what's in plain view. MOST people, of whatever color, are honest and hard-working, just trying to get by without too many hassles. SOME people want to stand in the way of that.
    I'm also tired of those people who blame it all on "the white man". Whites are no more monolithic than those of other races. We have some bad people among us to be sure, but we're mostly just like you, trying to get by.

  17. What I'm tired of being omitted from alot of inequality talks is poor or lower middle income white families like mine.
    We dont suffer from the racial disparities of those who are of color, but ours has the same effect.
    Because I don't make enough to secure credit, mortgage, a decent car, or further my education I find my family in the same financial situation as those of color. No matter how hard or how much my wife and work we cant save cant get credit cant get loans, everything we can get is left overs. And always being told we dont how to budget or save, or that we live outside our means. The scourge of wealth inequality starts with credit, and effects Americans of all colors.

  18. I'm someone who generally believes that the people who maintain the status quo fuel racism to distract the lower classes from turning in them. That being said, I'm actually really disappointed that this video didn't exactly explain America's wealth gap, just racist economic policy. As a white male, I kinda feel like we should be focusing on the fact that economic inequality is a disaster right now, and it's not just racial minorities that's suffer. White people do to. That's kinda why Trump got voted into office in the first place sadly.

  19. Oh I’m already woken up it’s just that these Republicans are doing it shamelessly and yet they don’t care about the people around them

  20. Yes there are no poor white people. Everyone who is white is given a check. Ya right. Where's my check? Slavery hurt poor white people by lowering wages. It didn't help most of them like lots of black people seem to think. It's as little hard to compete against free labor u know.

  21. I noticed your use of "average" a lot…. is that because when you look at median white wealth stats they're [better but not much] than PoC median data?

  22. Some very valid and important points made in the video BUT it is best not to spend beyond your means too. Whether you are black, white, purple, pink or aquamarine, it is the same, live within your means. The society corporations have created in the US is one of consumerism. Where every day Americans regardless of their skin color are bombarded with messages telling them to consume and if they don't have the money then go into debt so they can continue consuming. Yes, there are bigger issues then over spending but don't ignore the issue of over spending, as it doesn't help matters. Good luck to all.

  23. This was awesome. I don’t see how you can decouple racial injustice and economic inequality. There is much for this country to be ashamed of and much to be done to correct it.

  24. Marianne Williamson proposed $500 Billion in Reparations for the black community.

    Considering how much our corrupt system has thrived off the oppression of black people I think that would be a step in the right direction.

  25. We don't need more taxes. We're already collecting enough tax money to pay for any new programs. What we need to do is simply redirect this money away from WAR to these much needed programs. I rarely hear this simple solution to America's domestic problems.

  26. What a racists piece of garbage this woman is. There are plenty of poor white people and lots of black people voted against the one man that would help them Bernie sanders. All white people aren't rich or better off than black people. No white person who is alive today is stopping you from going to work. Stop blaming white people for your problems there are plenty of poor white people.

  27. Thank You for this video. I really enjoyed you putting it out there and telling it like it is! – Just a 58 year-old white guy.

  28. If you want to piss off poor white people and encourage them to vote for Donald Trump, then keep making videos like this.

  29. And the first thing, in 2016, the GOP did was remove all the regulations that were implemented to not allow what happened in 2008 to happen again.. hmmm
    Have to ask yourself why was that the most important thing for them to do???
    Then for them to give major tax breaks to corporations and the top 1% while catering to the low income Caucasian and conspiracy theory minded people, lying that they will help them and care about them… while those individuals completely believe those lies.. Trump and his criminal, traitorous, treasonous cowards in the GOP and the fox state Moscow channel along work Moscow Mitch won't look at the crucial facts.. they are cowards and American traitors..
    These lying criminals have their unfortunate wealthy relying on the vote of the white supremacist minded rural voter to given them the easy life they are accustomed too, while those voters and their freinds and family struggle.
    If you want to change their vote, demostrate how these, lying, cheating, obstructionist, criminal, treasonous, traitorous GOP are using them to enrich their pockets..

  30. We have no money because of high cost of living and crap wages. I'm white and never had money, always struggled, never succeeded.

  31. Shameful is leaning into the neo-libearl Identity fighting, it's about rich Vs the not rich, not white Vs minorities, if we want to help poor minorities we need to help the poor period. Focusing on race just distract us from the real issue of class struggle and boost racist talking points on the other side.

  32. That segment in the beginning. The budget nonsense. I just had a conversation yesterday with a conservative who said exactly that.

  33. Every republican president since Reagan has given permanent tax breaks to the corporations and the wealthy. George W. gave them two permanent tax breaks, arguably so did tRump, with his reduction of capital gains tax.
    The GOP's desire to turn this country into a full blown Oligarchy has generated 585 billionaires, each able to buy our politicians and effect changes in governance to their benefit.
    The GOP has been pushing us towards an unequal society from the beginning. Remember, money is a zero-sum game. If someone has a lot of it, that means the rest of us must have less.
    We, the American tax payers, have been robbed of literally trillions of dollars…

  34. I am white and from the UK, I found it upsetting, it means the so called American dead is dead for many people.

  35. I'm not certain putting everything in terms of race is helpful. No question everyone not wealthy is falling behind, and the further behind you have been in the past, like black and hispanic people, the faster you are falling. But the real opponent of minority people is not 'white people', it's 'rich people'.

    Throwing up barriers between working class people of colour and working class whites is only going to sew division where there should be unity, and ironically plays into the hands of the elites who want to keep you divided.

    While this presentation is factual, it aims its guns at the wrong enemy.

  36. A lot of folks do forego the lattes, fancy cars, phones and avocado toast to buy that home. I know a Chinese lady who bought a home in NYC after decades of hard work selling vegetables. I think it’s great if everyone got help buying a home. The crunch is real for everyone.

  37. Part of the fact is that the idiots that keep voting Republican, no matter their race, HATE FACTS.
    Liberals love facts, because facts make people SMARTER.
    Conservative RWNJs hate facts, because FACTS MAKE YOU A LIBERAL.

  38. American descendants of Slaves (#ADOS)  have suffered incalculable generational damage from governmental and institutionalized racist policies and practices. From Slavery, Jim Crow Laws,  Mass Lynchings of Black People, the destruction of Black Towns like Black Wall St,  the denial of voting rights, Segregation, Redlining of Black Communities and

    Medical Apartheid: The Dark History of Medical Experimentation on Black Americans.  *The #ADOS community has a Duty and the Right to Fight for Reparations for #ADOS

    *.  History of Reparations Payments.  >>>>  1- 1990 U.S.A $1.2 Billion or $20.000 Each JAPANESE AMERICAN.

    2- 1990 AUSTRIA $25 Million to Holocaust Survivors JEWISH CLAIMS ON AUSTRIA.

    3- 1988 CANADA 250,000 Sq. Miles of Land INDIANS & ESKIMOS.

    4- 1988 CANADA $230 Million JAPANESE CANADIANS.

    5- 1986 U.S.A. $32 Million 1836 Treaty OTTAWAS OF MICHIGAN.

    6- 1985 U.S.A. $31 Million CHIPPEWAS OF WISCONSIN.

    7-1985 U.S.A. $12.3 Million SEMINOLES OF FLORIDA.

    8- 1985 U.S.A. $105 Million SIOUX OF SOUTH DAKOTA.

    9- 1980 U.S.A. $81 Million KLAMATHS OF OREGON.

    10- 1971 U.S.A. $1 Billion + 44 Million Acres of Land ALASKA NATIVES LAND SETTLEMENT.

    11- 1952 GERMANY $822 Million to Holocaust Survivors GERMAN JEWISH SETTLEMENT.        12-  2015-2016 President Obama gave $12 million dollars to Jewish Holocaust Survivors and $492 million dollars to Native American Tribes as reparations. There are other historical examples of reparations, such as reparations were paid to the enemies and traitors of the United States such as the Civil War Confederates enslavers and Japan and Germany from WW2 and  the US Government Paid Reparations For 11 Italian Americans Who Were Lynched , yet Thousands  of African-American-were lynched between the years 1882 and 1970 and have not received any Justice.  Black Americans have fought and died in every major war and conflict involving the U.S and have never become traitors to the United States government like the Confederacy. The CIA sponsored and orchestrated Crack Cocaine epidemic in the Black Communities all over the USA, which lead to the Mass Incarceration Federal Crime Bill of the '90s. The #ADOS community has a Duty and the Right to fight for #REPARATIONS for #ADOS  >>>>>>

  39. Our teachers who teach grades 1 through 12 need to be re-educated. Which means the College professors who teach teachers need to be re-educated.

    Systematic, institutional racism is everywhere, it is at every level, and it is at a conscious and subconscious level.

    Which means everyone needs to be re-educated.

  40. Whites generally do not understand the barriers people of color face because they don't experience those barriers themselves. I'm not sure how this problem will be fixed. In high school, I didn't think anything of this until one day when my buddy Corry said he needed a job (I am considered white but graduated from a black school because I lived in a black neighborhood.). The pizza place I worked desperately needed workers, money was pouring in left and right and we couldn't make pizzas fast enough, so I suggested that he go there to apply, the job was just about guaranteed. Corry came back to say that they were not hiring. This was strange, but when I went to work that day, the assistant manager told me to never send my friends over to look for work again. It was actually a scary confrontation. So, this is how it works: whites who don't understand what blacks are going through are confronted and threatened by extreme racists, so we just quiet down and wonder what we can do about this economic apartheid. It is so wrong to exclude any citizen from all the benefits and expectations of being a citizen. Corry and my other classmates were much smarter than me, but it was I who went on to college, got a good paying job, and plugged in to the economy, all the time fearing that someone might decide I was not white and take everything away since the determination of who is what race is arbitrary. How do you fix this?

  41. More of the same here:

  42. My father told me how they took my grandfathers farm here in Ga. The sheriff arrested my great uncle and told my family they needed a bond to get him out. They had no cash and serving time in Adairsville Ga at the time was a death sentence, check that too. They put up the farm, the sheriff and judge changed the date of the case, no one shows up…they take the farm and my great uncle dies in a chain gang for a charge no one ever explained. Gotta hate Ga.

  43. Robert, please take a moment to look at the unemployed and under-employed, under paid women who are disabled. That is two strikes, female and disability, which effect a group of people who are missing in your videos. I am a single mother, who returned to college while raising my two children, now successfully contributing to our society, while I live in poverty, due to discriminatory hiring and lending practices, not to mention uninsured years, and the years for which I was paid 50%-70% less than men in the same field. There are too many groups being left behind by the current model of measurements; specifically GDP. We need a fresh new look at how we value people in the economic structures. #AndrewYang2020 #FreedomDividend #YangGang #WomenInMedicine #WomenForYang. This change will take all of us to get on board. Are you ready?

  44. The only thing that I disagree with in this video is including Latinos into this historically racist governmental sponsored wealth gap. Because most latinos identify and are looked upon as being white also Latinos did not go through slavery, jim crow, mass incarceration, and most of the red lining was aimed at and hurt #ADOS#FBA Black Americans Not latinos and other so called minority groups. So to include latinos into what #ADOS#FBA have suffered over generations and centuries is fundamentally unfair

  45. Three men have their own space programs! Billionaires are running for President with their own money. None of that is an accident. The rich and big business are destroying the country. I don't agree that race is the whole answer, though. At some point no one can buy a house. Other countries have already seen this happen. I agree with everything the lady said, but she just failed to mention that equality will be found at the bottom, and all white people are not guaranteed to become wealthy.

  46. This is why we need more people like Bernie Sanders, AOC, and Ilhan Omar in office. I'm so sick and tired of the right-wing's attempts at constantly keeping us divided and fighting amongst ourselves over made up conspiracies and lies just to keep the bigotry and oppression of everyone alive and well. I'm fucking tired of racist Nazi bitches making all the rest of us white folk look bad. The establishment targets white people with their fearmongering and brainwashing, which is incredibly effective because of how ingrained into our culture it is and they've had centuries to perfect it.

    Growing up white and lower class, I've been nonstop bombarded with pro-racism views constantly shoved down my throat. It got so bad that I started falling for it, and when I realized how it was getting to me, I was absolutely ashamed of myself for letting it seep in. I even had a union job at Boeing, and that was easily the most racist place I've ever worked. It's definitely incredibly common in the manual labor industry.

    It still bothers me a great deal that it was starting to work on me. I guess that's why it's been so effective at keeping this country as utterly regressive as it is. Doesn't help that most of my family members are terrible bigots themselves. Oh, and growing up with a severely angry father instilled in me an anger that I have struggled with constantly in my adulthood. At I am aware of my issues, unlike my father who tries to justify every terrible thing he says or does or believes.

    I am starting to hate being white.

    EDIT: I should have mentioned that at least we Millennials and our kids, Gen Z, are a hell of a lot more tolerant than Baby Boomers and Gen Xers ever fucking were.







  48. Just one of the reasons they fighting to go full MAGA. They don't mind the toying with the idea of equality, but "they" never want to fully embrace it. They prop up the likes of Trump to distract and to represent what they truly stand for. They are part of the problem and not the solution. Good luck with the two-faced people that say one thing in public and do another thing behind closed doors.

  49. Another lie that I despise is "Black people didn't turnout to vote." The majority of black people live in cities that are in states that are STILL mostly white. So our votes & values become diluted, especially with gerrymandering.

  50. I gave a thumb up to your presentation. Can I ask you a question: Having the equal opportunity for education, why African Americans don't get education in the same ratio as the European American do?

  51. Bob had a book out about this a few years ago. I forgot the title, but it covered how the elite have arranged our system to benefit themselves. They get the gold mine; we get the shaft. Just like this video, the end really tanks. Government ain't gonna change. It ain't gonna change. We're gonna get screwed no matter what.

    The only thing we can do while it's still possible is look out for ourselves. And, yes, that means forgoing that expensive meal, living in smaller quarters and using what you save to invest in yourself. Go to school. Be a doctor. Be a lawyer. Go to trade school and/or get an apprenticeship and become a plumber or a truck driver. Start your own business. The government is NOT going to help you.


  52. What appreciate about this video is that it tells us we aren’t awful people if we buy somethings. If we buy a computer or even collect things it’s how we waste money. Blacks cook and prepare their own food instead of eating out all the time. I prefer to make my own food because I trust my food. And I don’t like wasting money on fast food. But every once in a while I do treat myself. I’m tired of feeling irresponsible if I don’t anything for me with my money. I had the grades and was in college but of course money was the issue why I didn’t finish.

  53. Agree with everything you say.

    As for home ownership, buying a house in a city is so expensive most young people can’t afford it. Houses in rural areas like nearly all of Kansas are extremely inexpensive. In fact, I have a beautiful 6000 sq. Ft home on an acre of land on the mkt for 150k and can’t even get a lowball offer. There are tens of thousands of very nice homes sitting empty for lack of population to fill them. Rents are ridiculously low there too. We need to bring the middle of the country into the fold and stop allowing the towns there to become ghost towns. I think Bernie’s green new deal could bring solar and wind power to Kansas and create good jobs so people wouldn’t have to only live in big cities on the coasts. We could solve the homeless crisis too, if only the middle of the country had some industry that could put people to work. People in the middle of the country truly are “the forgotten” – so much so that even Mr. Reich never mentions them. Note: I use the phrase middle of the country because the term Midwest has been usurped to include places in the west and even the East. There is no longer a word for this forgotten part of our country….plains maybe?

  54. We need more people of color in government, preferable in progressive roles, to help change this. This system isn't ok

    Bernie 2020

  55. Rich, not white. The rich nonwhites are not a bunch of saints. Whites are also a diverse global minority. There’s less whites of every language than just Chinese. Don’t fight racism with racism. Fascist cops kill unarmed white males too.

  56. I can't give this consideration. Tried to look up sources, but it is really vague. New York Times, 2017? They made more than one article that year…

  57. I mean, I agree that people don't know how to budget anymore, and that is a problem, but that isn't anywhere near the reason for our wealth disparity

  58. It's important information to be sure just shameful we frame it without including Native Americans in these discussions.

  59. The US created its wealth gap by subsidizing poverty. If you deny this, you are either ignorant or lying. Whole story. Robert Reich is a fountain of misinformation and misguided ideas. More importantly, wealth gaps aren't even inherently problems. Idiots fueled by envy have propped up this ridiculous idea because they had to finally admit that the evidence that poverty has been on the decline thanks to market oriented global trade was overwhelming.

  60. Excellent video. Thank you for producing it. No one ever wants to talk about this. Too many (mostly white) people refuse to accept these simple concepts and facts, yet continue to believe they are the final authority on what is racist or not.

  61. Income inequality is so huge. My kids both work full time jobs and still cant afford rent because they aren't poor enough to qualify for affordable housing and to poor to afford rent. The good land lord policy keeps people from being able to rent because of credit history. Maybe that's just in my state idk. I just know they are ruining the country. The middle class is almost diminished.

  62. Won't argue the complete picture, but I want to make a side note with the tax cuts; because 99.999999999999% of the 1% who gain the most from the tax cuts is white, it throws of the balance and paints crookeder picture then it is in reality for the lower middle and low income white families. I think those are in the same boat as the black and hispanic parts of the population.

  63. Good video… but I would have to say, its not like white workers wages are rising with productivity in most industries either, that might be the only point where white lower class people can really feel the same bite of injustice as PoC, talk about that one more, you will get more working class white people to understand ya, its the biggest common ground connecting all lower class people today.

  64. I didn't know about Redlining. Thank you! From what I could Wiki in a short time, its rise and fall can be traced historically. But it's effects and more subtle versions of similar practices remain. Too many dated references in those articles refer to 200# and 20##. Meaning, they are current issues that are still being dealt with. The "Melting Pot" idea seems to be that you have an advantaged class out of the fire who cooks everyone else still in the Pot.

  65. Don't use latinx that's a racist term. Latin was created to describe people south of the border. The O was created because the Spanish and Portuguese language is gendered. Adding an X is an English use of the word and it erases the contribution of Latins don't use the X.

  66. This was excellent. it was concise, direct and delivered in a compassionate matter. It served history, reflection and a hopeful plan going forward. Excellent video. Good job.

  67. Good video overall, though the intro was a bit discordant for me. It is NOT a lie that there are plenty of people out there who were not victims of racist government policies, but who've made (and keep making) unsustainable life choices that put themselves in a financial lurch, dependent on the help of friends and family who keep tolerating (and thereby enabling/perpetuating) the situation rather than imposing "tough love".

  68. I'm sick and tired of hearing about the wonderful economy….that consumer confidence is back. Rubbish! How much of that "consumer confidence" is backed by credit card purchases? Why is it that every young couple I know work two jobs EACH? (just to pay rent on their low-income apartment at $1000/mo?) 50% of the school children in our county are on food stamps! When politicians are asked these questions the pat answer is "I don't see that happening". What?!!! Wall Street seems to be doing great….because the rest of us are NOT!!!!

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