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I worked at a summer job for my dad at a warehouse with blacks from 20-30. The ratio of money spent on family and education to drugs/car rims/car stereo is utterly pathetic. A good majority of them never graduated college, are making $8.00/hr, and pay child support.
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I live in Arkansas, and this isn't just a black problem. There are a ton of dumbass white dudes running around with one 10 in their checking account and 2 tens in the trunk.
I agree with what Cosby says, and it's a step in the right direction. Equality is a two way street, and the African American community as a whole has not seized the opportunities they have been granted.
But in a move that I think conservatives can agree with, we need to recognize that these social problems transcend race, and pursue policies that extend opportunity to everyone at a disadvantage, regardless of race. The idea of being "disadvantaged" has been abused by some people, but it is no reason to discard the concept, or to start thinking that we've achieved equality. To put it another way, the approach has failed, but the problem persists.