Citygroup did a study focusing on U.S. GDP from 2000 until 2020. The study revealed huge losses in GDP due to continuing discrimination against blacks in business revenue, education, housing credit, and income. The study determined that since the year 2000, continuing discriminatory practices in the four areas mentioned in the prior sentence resulted in a loss of 16 trillion dollars in GDP.25 The breakdown is as follows:
- “Closing the Black racial wage gap 20 years ago might have provided an additional $2.7 trillion in income available for consumption and investment.
- Improving access to housing credit might have added an additional 770,000 Black homeowners over the last 20 years, with combined sales and expenditures adding another $218 billion to GDP over that time.
- Facilitating increased access to higher education (college, graduate, and vocational schools) for Black students might have bolstered lifetime incomes that in aggregate sums to $90 to $113 billion.
- Providing fair and equitable lending to Black entrepreneurs might have resulted in the creation of an additional $13 trillion in business revenue over the last 20 years. This could have been used for investments in labor, technology, capital equipment, and structures and 6.1 million jobs might have been created per year.”
Dana M Peterson, Catherine L Mann, Closing the Racial Inequality Gaps, The Economic Cost of Black Inequality in the U.S., pg. 4,
https://www.citivelocity.com/citigps/closing-the-racial- inequality-gaps/
Payscale did a two-year study from 2017 to 2019, and this is their conclusion: “We find equal pay for equal work is still not a reality.” They studied the earnings of white men and men of color using data from 1.8 million employees. They found that no matter how far they advanced, black men made less than white men with the same qualifications.
According to the study,
“black men were the only racial/ethnic group not achieving pay parity with white men at some level.” The study showed that black men had the most significant “uncontrolled pay gap” relative to white men and that on average, black men earned eighty-seven cents for every dollar a white man earned.
The Payscale study showed that black men are paid less compared to all other men. Even when black and white men had the same job, experience, education, and worked at the same geographic location, the study shows a controlled pay gap whereby black men earned less. Executive-level black men still earn less than white men at that same level. At that level, black men are paid ninety-seven cents for every dollar a white man is paid but face the same executive responsibilities and are expected to produce the same or superior results.
Stephen Miller, Black Workers Still Earn Less than Their White Counterparts,
www.shrm.org/resourcesandtools/hr-topics/ compensation/pages/racial-wage-gaps-persistence-poses-challenge.aspx
The National Women’s Law Center also showed that black women are paid less than other women. Black women are paid sixty-three cents for every dollar paid to white men based on calculations used in the study. Where this impacts black single mothers is this study shows a pay difference of over 20,000 dollars per year.
“Black women have to work more than 19 months—until the very last day of July—to make as much as white, non-Hispanic men did in the previous 12-month calendar year.”34 Black women in high-wage occupations earn sixty-four cents for every dollar a white man earns.35 On average, that is 40,000 dollars per year less than white men in those same occupations.
Brandie Temple and Jasmine Tucker, Equal Pay for Black Women,
https://nwlc.org/resource/equal-pay-for-black-women/
“Even after completing undergraduate and graduate degrees, black and Hispanic workers earned less than non-Hispanic white workers with the same, or often less, education.”
- Roy Eduardo Kokoyachuk, ThinkNow Research
Kokoyachuck found that blacks and Hispanics with college degrees were paid less than whites and Asians with comparable education. His study showed that blacks and Hispanics who graduated in S.T.E.M majors earned less than whites and Asians with the same degrees in those same majors.
“Even when Blacks and Hispanics go the extra mile and earn professional degrees, their incomes still don’t break six figures. Whites and Asians, however, double their incomes by earning professional degrees, allowing them to make well over $100,000 a year.”
Roy Eduardo Kokoyachuk, Education Alone Can’t Close The Racial Wage Gap,
https://www.mediapost.com/publications/article/ 348809/education-alone-cant-close-the-racial-wage-gap.html
Now shut up with that tired "what about Asians" white racist garbage.
tiktok? You are racism! Clearly showing it through your posts. People want to make it all about race because that’s all Democrats have! They best wake up!
www.benjamindixon.org
