I’m an entrepreneur and investor. I’ve been obsessed with financial independence and wealth creation for the Black community for 30 years. I wrote my book, below, to invite Black and white Americans alike onto the playing field of what I believe to be an existential crisis—closing America’s racial wealth gap. I wanted to share my story of living through the gap. I also elevate the work of Black leaders who are tackling the problem in different ways. I’ve created an easy way for readers to understand the depth and nature of the problem…and know how they could take small and big steps to help solve it.
I devoured this book in three days. I found it after a Google search on “wealth inequality.” I was trying to get smarter on the topic. This is a data-rich explanation of much of what I’ve experienced growing up Black in America. I’d often hear parents, aunts, and uncles talk about the “black tax.” Here, Shapiro was providing the receipts.
I was also struck by the fact that a Black person did not write the book, but simply someone who was trying to understand and reveal the crux of the issue. I felt seen when I read his reframing of conversation from solely focusing on black disadvantage to bringing white advantage into focus.
When I finished this book, I was even more fired up to be a part of solving the problem.
Over the past three decades, racial prejudice in America has declined significantly and many African American families have seen a steady rise in employment and annual income. But alongside these encouraging signs, Thomas Shapiro argues in The Hidden Cost of Being African American, fundamental levels of racial inequality persist, particularly in the area of asset accumulation--inheritance, savings accounts, stocks, bonds, home equity, and other investments-. Shapiro reveals how the lack of these family assets along with continuing racial discrimination in crucial areas like homeownership dramatically impact the everyday lives of many black families, reversing gains earned in schools and on…
I had to read this one slowly. It took me a while to get through it. I kept finding myself getting pretty angry on one hand and super sad on the other—not a great combination. The stories were heart-wrenching. It was a lot. I also learned some legalese—de facto and de jure.
I began to understand the interconnections of policy, real estate, and education much better; this book changed my perspective on the complexity of driving effective educational reform.
Widely heralded as a "masterful" (The Washington Post) and "essential" (Slate) history of the modern American metropolis, Richard Rothstein's The Color of Law offers "the most forceful argument ever published on how federal, state, and local governments gave rise to and reinforced neighborhood segregation" (William Julius Wilson). Exploding the myth of de facto segregation arising from private prejudice or the unintended consequences of economic forces, Rothstein describes how the American government systematically imposed residential segregation: with undisguised racial zoning; public housing that purposefully segregated previously mixed communities; subsidies for builders to create whites-only suburbs; tax exemptions for institutions that enforced…
It is April 1st, 2038. Day 60 of China's blockade of the rebel island of Taiwan.
The US government has agreed to provide Taiwan with a weapons system so advanced that it can disrupt the balance of power in the region. But what pilot would be crazy enough to run…
Everyone loves taxes, right? Before reading this, I hadn’t realized the outsized role disproportionate allocation of state and local tax revenues plays in perpetuating the gap. One often-repeated untruth is “black people don’t pay taxes.”
I loved how Kahrl debunked that concept and thoroughly explained the role of tax policy (and individual acts) in re-appropriating land and property over multiple generations. I hadn’t made this connection to the problem before taking this deep dive. I was deeply troubled by this one; instance upon instance of plunder across the States.
Revealing a history that is deep, broad, and infuriating, The Black Tax casts a bold light on the racist practices long hidden in the shadows of America's tax regimes.
American taxation is unfair, and it is most unfair to the very people who critically need its support. Not only do taxpayers with fewer resources-less wealth, power, and land-pay more than the well-off, but they are forced to fight for their rights within an unjust system that undermines any attempts to improve their position or economic standing. In The Black Tax, Andrew W. Kahrl reveals the shocking history and ruinous consequences…
I thought it was super cool that a Black woman and a white woman came together to tackle this topic. I loved that they used a cross-section of economic situations and demographics centered on one of my favorite cities—Atlanta—to tell the story.
I learned a lot about rapper Killer Mike and was moved by the story of Tandreia Dixon, who worked her way to being a six-figure earner by her early thirties, in the face of challenging circumstances, yet struggled and struggled to get into the homeownership game. Reading about her was like watching a movie when you know something bad is going to eventually happen.
A sweeping, narrative history of Black wealth and the economic discrimination embedded in America's financial system.
The early 2020s will long be known as a period of racial reflection. In the wake of the police killing of George Floyd, Americans of all backgrounds joined together in historic demonstrations in the streets, discussions in the workplace, and conversations at home about the financial gaps that remain between white and Black Americans. This deeply investigated book shows the scores of setbacks that have held the Black-white wealth gap in place—from enslavement to redlining to banking discrimination—and, ultimately, the reversals that occurred in…
Social Security for Future Generations
by
John A. Turner,
This book provides new options for reform of the Social Security (OASI) program. Some options are inspired by the U.S. pension system, while others are inspired by the literature on financial literacy or the social security systems in other countries.
An example of our proposals inspired by the U.S. pension…
I found this work to be a fun, irreverent version of American history from a Black perspective. I think Harriot is a top-notch journalist, who is as funny as he is smart; I’m often fascinated by his articles in TheGrio and The Atlantic.
This one gave me a master history lesson covering the period from 1619 to the present day. While reading it, I often wondered, “What would happen if more Americans knew these stories?” I walked away informed, inspired…and a little saucy.
From acclaimed columnist and political commentator Michael Harriot, a searingly smart and bitingly hilarious retelling of American history that corrects the record and showcases the perspectives and experiences of Black Americans.
America's backstory is a whitewashed mythology implanted in our collective memory. It is the story of the pilgrims on the Mayflower building a new nation. It is George Washington's cherry tree and Abraham Lincoln's log cabin. It is the fantastic tale of slaves that spontaneously teleported themselves here with nothing but strong backs and negro spirituals. It is a sugarcoated legend based on an almost true story.
This book is a bold, data-driven call to action for closing the staggering $15 trillion racial wealth gap in America. Investment expert Cliff Goins IV breaks down the systemic barriers that have kept Black households generations behind and spotlights nine entrepreneurs and executives who are pioneering real solutions.
From housing justice to investment equity, this book isn’t just about understanding the problem—it’s about getting in the game and driving change. With powerful storytelling and actionable strategies, this is the playbook for anyone ready to build a more equitable future.
