Children of color are four times more likely than their white peers to be born into a poor family and suffer a lifetime of consequences, ranging from diminished academic standing to increased financial insecurity, a report released Thursday found.
Beyond financial comfort, even practical dreams of education and savings remain an elusive idea for many nonwhite Americans. The nation’s racial wealth disparity is more pronounced in the lives of children, the study, prepared by the California-based Insight Center for Community Economic Development, revealed.
“You could say that, ‘oh these poor children of color, they are doing so badly. We should help them out of…generosity,'” said Trina Shanks, associate professor at the University of Michigan School of Social Work, who authored the report. “But this is a different conversation. What we are saying here is look at the numbers. Children of color will represent the majority of children in the United States in 2024, 2024. Right now, so many of these children are living and learning in conditions that diminish their potential as early as two years old. If we…help families build just the most basic of assets, it can benefit the country over a longer period of time.”
