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African Americans Should be OUTRAGED Over ‘Average Net Worth’ in Liberal Boston

Boston has been under liberal rule on and off for some 87 years.

So, after all that time, how have black Americans prospered under Democrat polices?

Not so well.

Turns out the average black American living in Boston has a net worth of $8.00.

Yes, I said, EIGHT DOLLARS.

From Conservative Tribune

It’s often assumed that African-Americans and other minorities do better under Democrat policies. The party certainly does nothing to disabuse people of this notion, warning minority voters that they’ll do worse under Republican rule.

If that were true, Boston would have some of the richest African-American residents in the country. After all, the city has more or less been under Democrat rule since Jan. 1, 1930, when Democrat James M. Curley took over as mayor from the last Republican to hold the post. And, after all, it’s a notoriously Democrat city, so most of the other posts have gone to members of the party of the donkey, too.

So, how has it done in the intervening 87 years? Funny thing: not so well. The Boston Globe just stumbled across the net worth of the average black Bostonian as its Spotlight division begins a series on race in Boston.

How much do you think it is? $100,000? $50,000? $10,000?

Try $8. Not $8,000. Eight dollars.

“The median net worth for non-immigrant African-American households in the Greater Boston region is $8, according to ‘The Color of Wealth in Boston,’ a 2015 report by the Federal Reserve Bank of Boston, Duke University, and the New School,” the Globe reported last week. And that’s not all: their average assets only total $700.

The original report, from 2015, noted that “(n)onwhite households have only a fraction of the net worth attributed to white households.

“While white households have a median wealth of $247,500, Dominicans and U.S. blacks have a median wealth of close to zero. Of all nonwhite groups for which estimates could be made, Caribbean black households have the highest median wealth with $12,000, which is only 5 percent of the wealth attributed to white households in the Boston MSA.

“Although members of communities of color are less likely to own homes, among homeowners they are more likely to have mortgage debt,” it added. “Nonwhite households are more likely than whites to have student loans and medical debt.”

Nice work, Boston Democrats!

And it’s not like the liberal faithful can blame this all on the state, either. Massachusetts didn’t exactly earn the sobriquet “Taxachusetts” because of all of those Republican legislators that get voted in there.

Funny thing, though: In a lot of cities where we’ve seen struggling nonwhite communities, there always seems to be a Democrat in power.

Baltimore has been much in the news for its struggles of late; it’s only had one Republican mayor since 1947. Detroit started its downward slide in the 1960s; not coincidentally, its last Republican mayor was in 1962.

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  1. drumlina
  2. John Galt

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