Lead from the Outside: on Budget & Economy

White family wealth: $142,000; black family wealth: $11,000

To put the gap in stark racial terms, in America in 2013, the average income per household was $81,000. But averages have highs and lows. When you disaggregate the numbers, white families average $142,000 in wealth, Latinos come in at $13,700, and black families come in the rear at $11,000. Asian Americans are closer to whites than other people of color, but they also are behind whites.

For women, the wealth gap manifests itself first in the wages women earn. Women are more likely to be underpaid more than for the same work, to be in careers where salaries lag behind, and face hidden tax prejudices that siphon off their money before it can be translated into wealth. The wage gap is real: in 2016, women working fulltime women were generally paid 80% of what men received.

The above quotations are from Lead from the Outside How to Build Your Future and Make Real Change by Stacey Abrams . Click here for definitions & background information on Budget & Economy. Click here for other issues (main summary page). Click here for more quotes by Stacey Abrams on Budget & Economy.
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