Using property tax to fund schools is 1 reason for this disparity.  Poor neighborhood, less property tax, less money for teachers and students.

The current economic downturn, combined with the recent financial meltdown and the current housing bubble has made life for many Americans difficult if not unbearable.  One of the age old truths that is still holding water during this economic climate is the disproportionate affect that hard times has on African Americans versus the general population.   Last week the latest unemployment figures came out and they were very disappointing.  The jobless rate in America has risen to 9.3 percent and the number of new jobs created was way below expectation.  The numbers signify a stagnation of the economy and continued suffering for middle class Americans.  As bad as these numbers are, for blacks the problem is magnified.

By Sarah van Gelder of Yes! Magazine

At a time when millions of Americans are without work, the political debate has taken a bizarre turn. Instead of discussing how to make the public investments necessary to get Americans back to work, the political right has used the deficit “crisis” to push for cuts in workers’ rights and pay, without explaining how the economy can recover if potential consumers are too poor to buy anything. The focus now is on draconian cuts in the social safety net that the unemployed and their families need more than ever and for even less regulation of the finance institutions that brought the economy to its knees.

Let’s face it there aren’t too many way legitimate ways to get rich in America.  In an earlier Survival Guide article I cited 4 primary ways to get rich: own a business, own property, be an investor, or become a celebrity.  Many of our black youth do not take advantage of items 1, 2 and 3 and there are various societal and personal factors that make this true.  Without enough role models within our families and within our communities it is hard to see oneself as a major business owner, a wall street investor or a real estate mogul like Donald Trump.  Certainly many young black men and women have had success in these 3 areas and we salute those who have made it.  It is my sincere hope that those who have become successful share their knowledge with our youth and mentor them to help develop a new generation of black leaders in the areas of finance and business.  This post however talks about an option in the 4^th category – becoming a celebrity.