Racial Wealth Differences
The difference between wealth and income
What is passed down between generations of family members?
Tabacco, Cotton, and Rice
What were cash crops during slavery ?
Borrowing money and agreeing to an interest on the return of the amount borrowed
What is a loan?
Food, Shelter, things for survival
What are needs?
The average tax rate that can be calculated
What is total taxes/total taxable income?
What is residential segregation?
When one thing goes up, another thing goes up
What are Positive Feedback loops?
An item that we desire but that is not essential to survival
What are wants?
The current social security tax rate
What is 6.2%
Policies that keep racial groups physically separated
What is racial segregation?
3% in 1860 were owned
What percentage of slaves were owned in 1860?
When one thing goes up, another thing goes down
What are Negative Feedback loops?
Natural Scarcity & Man-Made Scarcity
the two types of scarcity?
African Americans income before and after taxes
What is 50,914 and 46,123?
57% of Blacks owes this equity
What is the percentage of businesses equity in the black community?
Ein Whitney
Who invented the cotton gin?
The amount accumulated overtime, including-principal and interest.
What is Future Value?
People don't let other people have access to something
What is Man-Made Scarcity?
A unit tax
What is a constant tax assessed on each unit of a good sold?
1793
When was the cotton gin invented?
Growth that occurs at the same growth rate overtime
What is exponential growth?
lack of product or production
What is scarcity?
This an economic system that the United States favors
What is capitalism?