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, it’s 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 it’s partly because white people just don’t want to live around us
— michaelharriot (@michaelharriot) February 24, 2020
We know that schools are funded by property taxes. So, if you’re white, your kids get to go to a better school. This has nothing to do with your “investments.”
It’s 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 let’s say both kids graduated from college.
I mentioned a study by @theSBPC yesterday. The study was really incredible in revealing institutional racism.
Here’s 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 group—even though their credit, income, jones etc were IDENTICAL.
— michaelharriot (@michaelharriot) February 24, 2020
Part of your credit score calculates debt. So, simply being black—NOTHING ELSE —means you have a higher credit score.
But now you need a car. Remember, your debt is already higher bc you’re 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 didn’t look at a group@of black borrowers v whites. They essentially looked at the govt data from every mortgage over a decade—31 million loans
— michaelharriot (@michaelharriot) February 24, 2020
Now, here’s 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.😒😒🤨🤨
The Black Tax is VERY REAL😠😠
https://twitter.com/timjacobwise/status/1233235060612046848
https://twitter.com/marcushjohnson/status/1233445767827853314
https://twitter.com/PragmaticObot/status/1233517869432016896
https://twitter.com/Fedup_Mom/status/1233520078240538624
Ummmm..
It would depend on the price 😋😋😋
https://twitter.com/NewBlackMan/status/1233511325415989249
https://twitter.com/JRehling/status/1233443596340121600?s=20
https://twitter.com/GrooveSDC/status/1233204218812649483
Bernie bros are Dems version of GOP Trump bros. He helped defeat Clinton and… 🥵
https://twitter.com/BlueSteelDC/status/1233363862809956352
https://twitter.com/scobie/status/1233349208914169858
https://twitter.com/Johngcole/status/1233237081754947584
https://twitter.com/soledadobrien/status/1233365054067761152
https://twitter.com/JenParker393/status/1233087024334327809
😂😂😂
https://twitter.com/CNNPolitics/status/1232844366001180672
https://twitter.com/DanaHoule/status/1232878110493859840
https://twitter.com/agraybee/status/1233213792361877504
https://twitter.com/NateSilver538/status/1233084247491194884
Good Morning, Everyone 😄😄😄