‘Brackets’: J. Cole’s Treatise on Wealth Inequality:
We’ve all heard about how wealth inequality is growing at an alarming rate, and in 2017, the 3 richest people in the U.S. had the same amount of wealth as half the country…that’s 160 million Americans.
But the wealth gap isn’t just between the rich and poor. When we look at the wealth gap by race, there is an even more shocking disparity. The typical white family has 10x the wealth of the typical black family.
Even when accounting for education level, we see that the typical white household without a high school diploma has a similar net worth to a black household with a college degree.
So how did this happen? All signs point to our tax system. In a nutshell, social programs that have helped white Americans move into the middle class by owning homes, saving for retirement, and passing that wealth down to their families have historically excluded taxpaying black people.
So it’s only natural for J. Cole, who pays millions of dollars in taxes every year, to be suspicious of how our government uses his hard-earned money. On “Brackets,” J. Cole goes down a rabbit hole, looking at who benefits most from his tax dollars and some of the deadly consequences of how the government spends our money.
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