Black people comprise about 13 percent of the population but hold less than 3 percent of the nation’s total wealth. Even among the richest people, the wealthiest 1 percent of black families have about $1.6 million compared to $12 million for the wealthiest 1 percent of white families.9 The reasons for these gaps include redlining in real estate, denying bank loans to people of color, and higher unemployment rates among black people, just to name a few. These gaps will persist unless a broad-based reform effort takes hold. One facet of these reforms could include reparations.
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Joe Long