Thursday, March 28, 2024

The Racial Wealth Gap Explained in 90 Seconds (Animated Video)

 *Emmy nominated producer and Attorney Antonio Moore uses animation to explain the drastic difference between the wealth held by white and black families in America.

Moore is working with political commentator Yvette Carnell, and the Angela Project backed by National Baptist Convention of America, Progressive National Baptist Convention, and the Cooperative Baptist Fellowship. With the goal for the project to culminate with a march to Commemorate the 400th Anniversary of Slavery in America in 2019, with a demand for U.S. reparations for slavery.

The Angela Project on U.S. Reparations is seeking to create a national awareness campaign around The Angela Project, and the need for reparations to be provided to African American Descendants of American Slavery.

In his final days Dr. Martin Luther King Jr. set forth toward an economic movement for the poor. His “Poor People’s Campaign” recognized that without equality could never truly be gained without economics. In one of his final speeches Dr. King stated,

“…Our government was giving away millions of acres of land…not only did they give the land they built land grant collages with government money to teach them how to farm NOT ONLY THAT they provided county agents to further their expertise in farming NOT ONLY THAT they provided low interest rates in order to mechanize their farms NOT ONLY THAT Today these people are receiving millions of dollars not to farm and they are the very people telling the black man that he needs to lift himself up by his own boot straps… this is what we are faced with! This is the reality! Now when we come to Washington in this campaign we are coming: To get our check!” ~ Dr. Martin Luther King Jr

It is the goal of the Angela Project to expand on that People’s movement, and include a generation of Americans in a national discussion on reparations, and inform Americans of all races on the cost it took to create our great nation.

Antonio Moore recently worked with economist Matt Bruenig to show that “Black Millionaires Hardly Exist in America” article excerpt:

Matt Bruenig and I used the 2016 Federal Reserve Survey of Consumer finances to show that nationwide out of 20 million black families, a mere 380,000 break the single million dollar threshold. That is only 1.9 percent of the racial group. While The Washington Post is following behind our article by reporting an obscure variation of the data that 1 in 50 black families are millionaires, they are failing to explain how truly complete white control of wealth is in the United States.

15 percent of white American families have a wealth level above a million dollars. Meaning 13 million white families are millionaires, and over 870,000 families are above 12 million dollars. This group of whites above $12 million also constitutes the bulk of the top 1 percent we so often speak of in the media. Our other major finding is that three-fourths of the reported $16,600 in worth reported for the middle black family is the held in the family car. Meaning the median black family is worth just over $4,000 without the family car. According to Professor Edward Wolff durables such as the family car, couch, television, and clothes should not be included as assets in valuing a household.

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