Financial security among many Blacks and minorities have become even more difficult to attain as the racial wealth gap increases. The Institute for Policy Studies recent report of racial wealth disparities said Black family wealth is on track to reach zero wealth by 2082. Historically wealth inequality in the United States has existed along a racial divide. The Kerner Commission report of the late 1960’s said, “There were two America’s, one Black, one White: Seperate and Unequal”. More than 50 years have past since then and there still remains two America’s. The divide between the two has enlarged and there is now a huge gap of racial wealth inequality.
The Institute for Policy Studies report, “A Dream Deferred” was released on what would have been Reverend Dr. Martin Luther King’s 90th birthday. The report revealed that “the median Black family today owns $3,600, just 2 percent of the wealth of the median White family”, according to The Institute for Policy Study report.
National Assistant to The Honorable Minister Louis Farrakhan, Student Minister Ishmael Muhammad’s message, “Divided Nation A Nation On The Brink Of Anarchy” warns us of growing divide in the United States that is steadily getting worse. The Nation of Islam’s Mosque Maryam provided information from National Student Minister Ishmael Muhammad’s message on their twitter page @Mosque Maryam. The Institute for Policy Studies report said “between 1983 and 2016, the median Black family saw their wealth drop by more than half after inflation”
National Student Minister Ishmael Muhammad’s message included a visual presentation citing excerpts of The Institute for Policy Studies racial wealth disparities report. It showed that “between 1983 and 2013 The wealth in the median Black household declined 75% from $6,800 to $1,700 and the median Latino household declined 50 percent from $4,000 to $2,000 at the same time the wealth for median White households increased 14 percent from $102,000 to $116,000.”
