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Sunday, December 22, 2024

Biden economics disproportionately affect Black Americans: 'We have less money on average than other groups'

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Inflation is a hidden tax on poor people, which disproportionately includes people of color. | Mubarak Showole/Unsplash

Inflation is a hidden tax on poor people, which disproportionately includes people of color. | Mubarak Showole/Unsplash

DaQuawn Bruce, an opinion contributor for USA Today, cited data from the Federal Reserve Bank of New York and made the argument that the high rates of inflation caused by Biden and the Democrats disproportionately affect people of color in Michigan and across the nation. 

With inflation at 9.1% and things looking like they could get worse, Bruce says it's no secret why Black Americans who voted for President Biden are slowly beginning to lean away from his administration.

"The reasons why inflation hits Black and brown people harder than others is simple, Bruce said. "We have less money on average than other groups, and we spend more of the money we do have on things that are affected the most by inflation."

Bruce uses gas prices and the cost of used vehicles as an example of things that minorities spend more money on that have been affected by inflation. The June report found that Black Americans spend more of their income on transportation than white groups, according to USA Today. 

The U.S. Census reported in 2019 that Black Americans represented 23.8% of the population living in poverty while only accounting for 13.2% of the total population, meaning that the percentage of Black Americans living in poverty is nearly double that of their percentage of the total population, USA Today reported.

There have been other studies in the past that point to the same conclusion Bruce reached regarding inflation. Bruce cited a study published by the Federal Reserve Bank of Minneapolis in April that showed that everyday necessities such as electricity and cellular service make up a large proportion of Black Americans' budgets.

According to USA Today, a Bank of America study found that Black, Hispanic, and Latino households spent 7.1% of their post-tax income on energy while 5.4% was spent by other groups. When it comes to food, Black Americans tend to spend 12.5% of their income, compared to 11.1% for others.

Bruce leads Concerned Communities for America as the executive director. His organization focuses on facilitating political liberation and social transformation of communities of color across the country.

It is estimated that in the state of Michigan, 15.20% of the population, or 1,519,461 people are Black and 5.09% or 507,353 people are Hispanic, according to World Population Review. 

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