The Solution Is Redistribution
Increasing educational attainment does little to reduce racial wealth disparities.
Quinn Dombrowski / Flickr
Using the 2016 Survey of Consumer Finances, I have pulled out the following figures showing that the racial wealth gap appears in every income group and at every educational level.
The upshot is that the elimination of this wealth gap is going to require intentional wealth redistribution. Increasing educational attainment and improving labor market outcomes simply will not be enough.
Income
The graph below charts the median wealth level of each income quintile broken down by race (hover with your cursor to get precise figures).
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