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Response to TipTok (Reply #7)

Tue Feb 23, 2016, 11:52 AM

33. Wealth is generational

Here's an article: http://everydayfeminism.com/2014/05/income-vs-wealth/

If you go back to WWII, white GIs were the only ones who benefitted from the GI bill. (Info about that here http://www.demos.org/blog/11/11/13/how-gi-bill-left-out-african-americans )

So if your grandparents were able to buy a home because of the GI bill, they were able to begin to create wealth - a home to borrow against to fund education, money to pass on to grandkids, etc. Because of housing discrimination, African Americans could not use the GI bill to buy homes in the only places available to them - homes in redlined areas. They could not accumulate wealth for their kids and grandkids.

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