Racial disadvantages are real and are arguably the most significant factor in discussing social mobility because race is a commodity that stops social mobility since race is a determining factor of wealth. Wealth distribution among different races is unequal. Most of the wealth falls upon Caucasians. While the biggest percentage of poverty follows upon minorities and people of color. This causes any unfair balance of wealth between different racial groups and causes minorities to hold disadvantages that will further impact wealth, creating a bigger wealth gap between races. Matthew A. Painter provides examples of the racial disadvantages when stating, “Among blacks, darker-skinned individuals experience lower educational attainment … hourly wages…occupational prestige (Gullickson 2005; Hill 2000; Hughes and Hertel 1990; Keith and Herring 1991), spousal education” (Painter para 9)
Race is a big factor of wealth because skin color, typically, decides one’s level of wealth. In many reports and statistics, show that skin color and race does affect
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In the article Forbes Announces Its 32nd Annual Forbes 400 Riches Americans it can be reported “…71 inherited their wealth and 56 inherited at least a portion but still growing it...” (Oliver 9:55) as mentioned in John Oliver as he further states that is approximately one-third of the list of wealthiest Americans. Even though, as Lisa A. Keister and Stephanie Moller has mention, there is very little about inheritance that is recorded and documented, since it cannot be indicated how much assets or property is handed down to someone since some assets or properties are hidden or can be kept under different names, we do know that based on different surveys and studies that,” inheritance likely explains much of the persistence of wealth inequality” (Keister para 34).
The wealth gap is constantly increasing whether it is through individuals, family structure or