The net wealth of a typical Black family in America

"Consider that the net wealth of a typical Black family in America is around one-tenth that of a white family. A 2018 analysis of U.S. incomes and wealth written by economists Moritz Kuhn, Moritz Schularick, and Ulrike I. Steins and published by the Federal Reserve Bank of Minneapolis concluded, "The historical data also reveal that no progress has been made in reducing income and wealth inequalities between black and white households over the past 70 years." (See https://news.harvard.edu/gazette/story/2021/06/racial-wealth-gap-may-be-a-key-to-other-inequities/) Instructions Using U.S. family incomes, construct a slide presentation that differentiates between equality, equity, and justice. Be sure to address the following: 1. Define equality, equity, and justice (cite 1 scholarly source). 2. List 2 background needs that U.S. Lawmakers should consider if Black and White American families are to achieve not only income equality but income equity and income justice. 3. What are some types of income experiences that contribute to income equality, equity, and justice for Black and White families? Use U.S. family incomes/quantitative data and qualitative excerpts (people's stories) to illustrate differences between equality, equity, and justice and show income shifts experienced by Black and White American families.

- Illustration: Imagine dividing the same pie, giving larger slices to those who are hungrier.
Justice: Addressing historical disadvantages and creating a fair playing field for all. (Source: The Sentencing Project)
- Illustration: Imagine providing a smaller person with a box to stand on so they can reach the pie, creating a level playing field.

Slide 3: The Racial Wealth Gap

Briefly discuss the wealth gap statistic: Black families hold about 1/10th the wealth of white families (Source: Harvard Gazette, 2021).
Highlight the lack of progress in closing the gap over 70 years (Source: Federal Reserve Bank of Minneapolis, 2018).

Slide 4: Background Needs for Equity and Justice

1. Addressing Historical Disadvantage:
- Consider policies like reparations for slavery and discriminatory housing practices.
- Educational programs to address historical narratives that perpetuate racial inequality.
2. Dismantling Systemic Barriers:
- Examine discriminatory practices in hiring, lending, and criminal justice.
- Implement policies to promote equal opportunity for education, employment, and wealth generation.

Slide 5: Income Experiences: Income Equality

Data: Present a graph or chart that shows the median income for Black and White families in the U.S. (Source: U.S. Census Bureau)
Qualitative Excerpt: "Both John and Michael work full-time jobs, yet John (Black) struggles to afford groceries while Michael (White) is saving for a down payment on a house." (This is a fictional example, you can find real-life stories online or conduct interviews)

Slide 6: Income Experiences: Income Equity

Data: Present a chart showing the distribution of income within Black and White families (Source: Pew Research Center)
Qualitative Excerpt: "Both Sarah (Black single mother) and David (White married couple) have one child. Sarah receives government assistance to make ends meet, while David can afford childcare and save for college." (This is a fictional example)

Slide 7: Income Experiences: Income Justice

Data: Show the trend of income growth for Black and White families over time (Source: Congressional Budget Office)
Qualitative Excerpt: "Over the past 20 years, income for Black families has stagnated, while White families have seen significant growth. This limits opportunities for wealth creation for Black families." (This is a fictional example)

Slide 8: Conclusion

Restate the importance of achieving income justice, not just equality.
Briefly mention policy solutions or areas for further research.
Call to action: Encourage further discussion on closing the racial wealth gap

Title: Bridging the Divide: Income Equality, Equity, and Justice for Black and White Families in the U.S.
Your Name and Affiliation (if applicable)

Slide 2: Defining Key Terms

Equality: Everyone receives the same amount of resources, regardless of need. (Source: Merriam-Webster Dictionary)
- Illustration: Imagine dividing a pie equally among 5 people, regardless of their hunger levels.
Equity: People receive resources based on their specific needs. (Source: Center for American Progress)