More and more Americans are becoming aware that unequal wealth redistribution is a fact of life for the average Hispanic living in America. The good news is that there are steps we can take collectively and as individuals to reduce inequality and increase wealth for the Hispanic community.
“Without Change, African American and Latino Families Won’t Match White Wealth for Centuries” explain the authors of The Ever-Growing Gap, a study of inequality by CFED & Institute for Policy Studies. “We showed that if current trends continue, for the average Latino family, matching the wealth of White families own today will take 84 years”.
The average Latino family has less money than a White family. “White American households own … 68 times more than Latino households,” writes Rodney Foxworth writing in Chronicle of Philanthropy.
To understand the current system of unequal wealth redistribution and how it can be ameliorated, we first need to understand the causes.