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. – READ MORE
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