The Racial Wealth Gap Is Vast: 2020 Democrats Have Plans to Close It - NBC 6 South Florida
Decision 2020

Decision 2020

The latest news on the race for president in 2020

The Racial Wealth Gap Is Vast: 2020 Democrats Have Plans to Close It

In many ways, it's a defining issue of the 2020 cycle so far, one that brings together multiple trends that are transforming the party

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    If you’ve been to an event with a Democrat running for president this year, there's a good chance you’ve heard about it: the racial wealth gap.

    Candidates are regularly bringing up the fact that the typical black family has only one-tenth the assets of the typical white family — a divide that has grown larger than it was 35 years ago, NBC News reports.

    In Iowa, Sen. Elizabeth Warren of Massachusetts gives detailed history lessons on how discriminatory policies created the wealth gap while predatory lending and mass incarceration exacerbated it. Beto O’Rourke, the former Texas congressman, condemns the “imperfect, unfair, unjust and racist capitalist economy."

    Sen. Cory Booker of New Jersey doesn’t just bring up the disparity in places like New Hampshire, he brings state-specific data along with him.

    Watch: Ta-Nehisi Coates’ Full Opening Statement at House Hearing on Reparations

    [NATL] Watch: Ta-Nehisi Coates’ Full Opening Statement at House Hearing on Reparations

    Ta-Nehisi Coates, author of “The Case for Reparations,” testified before a House Judiciary subcommittee during a hearing on whether the United States should consider compensation for the descendants of slaves. 

    He delivered a rebuttal to Senate Majority Leader Mitch McConnell's comments that "no one currently alive was responsible for that," which Coates called a "strange theory of governance." 

    "Well into this century the United States was still paying out pensions to the heirs of civil war soldiers," he said. "We honor treaties that date back some 200 years despite no one being alive who signed those treaties. Many of us would love to be taxed for the things we are solely and individually responsible for. But we are American citizens and this bound to a collective enterprise that extends beyond our individual and personal reach."

    (Published Wednesday, June 19, 2019)

    Politicians, academics and activists who’ve worked on these issues say this cycle is unique both in the emphasis White House hopefuls have put on the racial wealth gap, but also the type of detailed agendas they've proposed to address it.