Black families have 10 times less wealth than whites and the gap is widening—here’s why
“The wealth gap between white and black Americans is widening: Black families now have 10 times less wealth than whites. Sen. Tim Scott (R-S.C.) thinks he knows why, and he is trying to do something about it. In spite of all of the strides people of color have made over the past 50 years in America, there has not been much real progress on many fronts in minority communities because the underlying issues of racial inequality have not been adequately addressed. It remains harder for minorities to get the credit they need in everyday life, for example, which makes it harder for them to make big purchases, like buying a home, which could help them build and pass on wealth.”