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Originally Posted by dogzilla
I don't deny that there are poor people and wealthy of all races. What I don't buy is the attitude that somehow the major reasons for this is that minorities are taxed unfairly and charged interest rates that are too high.
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Taxation and interest rates might not explain why many are poor in the first place, but it explains why the gap is growing, which I think is the point.
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There's dozens of other reasons for people to be poor, but it seems to be politically incorrect among the liberals to admit that the poor might bear some responsibility for their status.
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I don't disagree, but I think many reasonable liberals will understand and value personal responsibility, but this can only get you so far. When you have so many external factors stacked against you, it can cause a lot of problems. I think one point to be taken from the study is that there is less economic friction if you already have wealth in the first place and that there is undue friction when you don't. Though I suppose it could be argued that the friction isn't undue at all, but that's another story.