Failure to close the wealth inequality gap leaves Black Americans with no choice but to accept that we, as a people, will never reach wealth/income parity with white Americans

BETHESDA, Md., July 28, 2020 /PRNewswire/ — An article in Axios written by Dion Rabouin entitled 10 Myths About The Racial Wealth Gap, (link below) asserted, “…the wealth gap is the product of centuries of inequality and racism that has grown too large to be impacted significantly by individual actions, achievements, or choices.” The article further stated, “Here are some of the most popular myths about the racial wealth gap’s causes and solutions – and why each falls apart with a closer look.”

Mr. Johnson said, “Black elected officials, national Black organizations, and the Democratic Party, which receives approximately 90% of Black voter support, must refute the Axios article with compelling evidence; and, if unable to do so, must propose viable alternative solutions that will convince Black Americans that we can achieve economic justice in the form of wealth parity when compared to white Americans.  I believe that it is patently unfair to make the case to 40 million Black Americans that long-standing government programs will work to solve wealth inequality if factual data, presented in the Axios article, shows that these programs, whether operating individually or collectively, will not close the wealth gap.  I further suggest we admit to Black Americans that if these government-sponsored programs do not work as promised; and, if there are no viable alternatives, it is time to demand, on behalf of Black Americans, long-overdue, full and total reparations.”

Mr. Johnson further stated, “I urge every American who is concerned about the Black/white wealth gap to read the Axios article https://apple.news/ADs408tlqTj-Y4dDkfR-Bfg to form your own opinion about next steps to address this divisive economic situation.”  Attached are my comments made in an interview with Axios. https://www.axios.com/bob-johnson-racial-wealth-inequality-bet-97746e61-852a-4f0a-9d92-777812bd0020.html

About The RLJ Companies: The RLJ Companies, LLC, founded by Robert L. Johnson, is an innovative business network that provides strategic investments in a diverse portfolio of companies. Within The RLJ Companies portfolio, Johnson owns or holds interests in businesses operating in a publicly traded hotel real estate investment trust (REIT); private equity; 401k fintech services; automobile dealerships; content streaming; and gaming and sports betting.  The RLJ Companies is headquartered in Bethesda, MD. Prior to founding The RLJ Companies, Johnson founded Black Entertainment Television (BET).

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