A lot of “majorities” aren’t educated that their financial advantage isn’t because of their investments. It’s becau… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
First of all, of you live in a home in a black neighborhood, it’s worth, on average, $48,000 less than an identical… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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But, for the sake of argument, let’s say that all things are equal. Simply because you are awhite homeowner, you n… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
We know that schools are funded by property taxes. So, if you’re white, your kids get to go to a better school. Thi… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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So, of course, the white districts are considered better because they had higher scores, more college attendees and… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
But let’s get back to home ownership. When those white kids got a chance to go to college, their parents could use… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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But let’s say both kids graduated from college.
I mentioned a study by @theSBPC yesterday. The study was really in… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
They created a profile of a student. 24 yrs old, recent college grad making $50,000 per year. The only difference w… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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The study found that kids who went to majority black schools were charged higher rates than any other group—even th… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
So now you’re a black college grad with more debt than a white student. Regardless of what you do, if you’re black,… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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Part of your credit score calculates debt. So, simply being black—NOTHING ELSE —means you have a higher credit scor… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
Now car lenders might say that blacks have lower credit scores but we know why that is. Instead of looking at payme… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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So you have a car, an education and you want to buy a home.
In 2018, @reveal did a study. They didn’t look at a g… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
They found that black borrowers were denied at 3 times the rate of white borrowers and ALWAYS got higher interest r… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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Add that with double the unemployment rate, fewer educational resources, higher car insurance rates and tithes and… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
And white people’s advantages have nothing to do with their investment knowledge or hard work.
It’s built into th… twitter.com/i/web/status/1…
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(@michaelharriot) February 24, 2020
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