Democratic presidential candidate Michael Bloomberg on Sunday pledged to narrow ...
- Democratic presidential candidate Michael Bloomberg on Sunday pledged to narrow the wealth gap between black and white Americans by boosting black ownership of homes and businesses and investing in poor neighborhoods.
But the billionaire former mayor of New York trails frontrunners Bernie Sanders, Joe Biden and Elizabeth Warren nationally and among African Americans, who make up about a quarter of Democratic voters in the contest to take on Republican President Donald Trump in the November election. The United States stands out among developed countries for its large wealth gaps and its relatively recent history of pervasive slavery, which underpinned its southern economy until 1865.white American households on average had over six times the wealth of black households in 2016, a gap largely constant since 1962 despite legal efforts to ban discrimination.
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