Now time then time (The Backshaw Class)
By , the homeownership gap had narrowed slightly for Hispanics but widened for blacks. Black and Hispanic families were also less likely to own homes than white families with similar incomes. This gap is becoming more important as liquid retirement savings vehicles, like k s, replace more traditional defined-benefit pension plans.
10 | Input devices
Why does this gap exist? Black and Hispanic families have less access to retirement saving vehicles and lower participation when they have access. Black workers are somewhat less likely to participate in employer retirement plans than white workers 40 percent versus 47 percent in , respectively but have much lower average liquid retirement savings.
This suggests that simply having more employers offer retirement plans will not be enough to close the gap, especially if lower-income groups contribute smaller portions of their income to retirement plans and are more likely to withdraw money early to cover financial emergencies. Lower-income families may also get lower returns on average if they invest in safer, shorter-term assets. Since the mids, black families, on average, have carried more student loan debt than white families.
This is driven in large part by the growing share of black families that take on student debt. In , 42 percent of families headed by black adults ages 25 to 55 had student loan debt, compared with 34 percent of similar white families. Because black families, on average, have less wealth and fewer private resources, they may be more likely to turn to loans to finance their education.
White families are five times more likely than black families to receive large gifts or inheritances , which can be used to pay for college. However, black students also have lower graduation rates than white students. About two-thirds of homeownership tax subsidies and retirement subsidies go to the top 20 percent of taxpayers, as measured by income.
The bottom 20 percent, meanwhile, receive less than 1 percent of these subsidies. Blacks and Hispanics, who have lower average incomes, receive much less of these subsidies than whites, both in total amount and as a share of their incomes. Low-income families benefit from safety net programs, such as food and cash assistance, but most of these programs focus on income—keeping families afloat today—and do not encourage wealth-building and economic mobility in the long run.
Federal asset-building subsidies disproportionately benefit high-income families that need them the least. Here are six recommendations that could help reduce wealth inequality and racial wealth disparities:. By more efficiently and equitably promoting saving and asset building, more people will have the tools to protect their families in tough times and invest in themselves and their children.
Share on facebook Share on twitter Share on email. And why, in particular, has the racial wealth gap not closed?
The weather was very pleasant and we had a good time in the sun. Ken G0ITI operating on 2m. Again the weather was very pleasant and we had a good time - even the midges kept away.
The evening gave me the opportunity to allow a couple of members on the Foundation licence course to make their first HF QSO as one their practical assessment tasks. I was using my FT with a 40m doublet erected as an inverted vee about 8m high at the apex. Unfortunately, we have no pictures of the evening's activities.
For this year's contest the maximum power allowed had been increased to 5W so, after carefully measuring and setting the output, we used a Yaesu FT coupled to a 9-element Tonna. We were hoping to use a element Tonna but the wind was too strong for the rotator. In the event, we did a lot better than last year and ended 28th out of 64 participatants.
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We were also awarded a certificate for Best Fixed Station which was a pleasant surprise. John M0JPA also assisted.
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Once more we had good weather although it was very windy - it generally is windy at this location but this time it seemed worse than usual! Just to give the lie to John G7ELX's nickname of "the licensed listener", here's a picture of him actually on air.
In the background is Gary, at the time unlicensed but now M6???. The August event usually finishes early because it gets dark around BST but it also gets quite cool as the sun nears the horizon.