My thoughts about Income!

Updated 9/23/22

There are too many false articles on the Internet regarding income and racial disparity. Here is the truth!

Education is the key to income. For 200 years in the US and almost all developed countries, people with the best education earn the highest incomes.

Harvard economist, Richard Freeman, compared Black and white families whose homes included newspapers, magazines and library cards and who had the same number of years of schooling. He concluded there was no difference in average income between the two.

In Charlotte, the average income for Black families is lower than white families. That is a fact. However, Black families are 78% single mother families, thus one income. Majority of white families have dual incomes. Both parents work! That alone explains the income gap! It is not racial injustice or oppression.

And-white adults have significantly better education levels than Blacks. Black kids dropout out of high school at higher rates than white kids. But that gap has narrowed. That is great news. Education is the key. Over the last 30 years, Black adults have enrolled in college at lower rates than whites, but recently that gap has narrowed, again good news. There is no racial injustice or oppression. Also:

Research shows that Black women with the same job title as white women earn more income.

College educated women, not married, and without children, and who work full-time earn 10-15% more income than men.

Top celebrities earn 2X the pay of the top CEO”S. Check out Snoop Dog’s income!!!

Often, your income depends on what other people are willing to pay you! I am willing to pay a landscaper $150 to aerate my lawn once a year.

The government is not as efficient in handling other people’s money as is the private sector. In the private sector, mismanagement of financial resources ends in bankruptcy. The US Post Office lost $11 billion in one year! People with merit should get the loans, not people selected by skin color.

I believe there exists huge differences in skills and achievement among people. Skills and achievement create wealth, and this accounts for the disparities in income levels. Regrettably, our current government wrongly believes racial or ethnic oppression is the cause. The data says otherwise.

One last comment: under no circumstances should Black high schools be “war zones” or under-achieving. Black children deserve a fair chance. If I were the Governor of NC, I would “attack” that problem.