The spending issue is wild. I have to track down the study, but it basically confirmed that most of the "wealth gap" among similarly salaried racial groups was almost 100% down to spending behavior. Black households, on average, spent way too much money on cars, televisions, and clothing.
Also you will find poverty rates similar across race lines when there is a mother and father in the home. Almost as if two parent homes are a way to avoid poverty.
The spending issue is wild. I have to track down the study, but it basically confirmed that most of the "wealth gap" among similarly salaried racial groups was almost 100% down to spending behavior. Black households, on average, spent way too much money on cars, televisions, and clothing.
Also you will find poverty rates similar across race lines when there is a mother and father in the home. Almost as if two parent homes are a way to avoid poverty.