This thread is very much on point and attempts to explain White Financial Advantage.
First of all, of you live in a home in a black neighborhood, itās worth, on average, $48,000 less than an identical home in an identical white neighborhood.
Part of this is because of the history of redlining and itās partly because white people just donāt want to live around us
— michaelharriot (@michaelharriot) February 24, 2020
We know that schools are funded by property taxes. So, if youāre white, your kids get to go to a better school. This has nothing to do with your āinvestments.ā
Itās white privileged.— michaelharriot (@michaelharriot) February 24, 2020
So, of course, the white districts are considered better because they had higher scores, more college attendees and more programs.
But the advantages were built in.
— michaelharriot (@michaelharriot) February 24, 2020
But letās say both kids graduated from college.
I mentioned a study by @theSBPC yesterday. The study was really incredible in revealing institutional racism.
Hereās what they did.
— michaelharriot (@michaelharriot) February 24, 2020
The study found that kids who went to majority black schools were charged higher rates than any other groupāeven though their credit, income, jones etc were IDENTICAL.
— michaelharriot (@michaelharriot) February 24, 2020
Part of your credit score calculates debt. So, simply being blackāNOTHING ELSE āmeans you have a higher credit score.
But now you need a car. Remember, your debt is already higher bc youāre black
Well, @CRLONLINE found that auto lenders charge black borrowers higher rates
— michaelharriot (@michaelharriot) February 24, 2020
So you have a car, an education and you want to buy a home.
In 2018, @reveal did a study. They didnāt look at a group@of black borrowers v whites. They essentially looked at the govt data from every mortgage over a decadeā31 million loans
— michaelharriot (@michaelharriot) February 24, 2020
Now, hereās a real-world example.
That study by @theSBPC found that a student who graduated from Howard would have to pay $3800 more than an identical NYU grad to refinance a student loan.
— michaelharriot (@michaelharriot) February 24, 2020
So… here is some info for the ‘class, not race, crowd.ššš¤Øš¤Ø
The Black Tax is VERY REALš š
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Ummmm..
It would depend on the price ššš
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Bernie bros are Dems version of GOP Trump bros. He helped defeat Clinton and… š„µ
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Good Morning, Everyone ššš
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