Cash flow alone cannot explain racial stock ownership gaps

Evidence

Part of the problem is attributable to the reality that even high-income black Americans have less money available to invest; remember, income and wealth are not the same, and even black and white Americans with comparably high incomes don’t have the same amount of wealth, for all of the reasons we’ve already explored. But there is more to the story than just cash flow: Access, trust, and history have all shaped today’s black and white investment practices. — Dorothy A. Brown, The Whiteness of Wealth, 454

Categorization

• QUESTION: What specifically does ‘access, trust, and history’ fail to cash out as a tax-code mechanism? Track what chapter 6 then argues.
• XREF: connects to: Market theories fail to account for racial stratification. — Michael Omi, Howard Winant, Racial Formation in the United States, 69; Stock ownership gaps between black and white households persist even among the wealthy — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 453; Financial literacy explains almost none of the racial investment gap — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 459 (+3 more)
• yield-rescued: below the book’s yield-target cutoff, included anyway for connecting to: Market theories fail to account for racial stratification. — Michael Omi, Howard Winant, Racial Formation in the United States, 69; Stock ownership gaps between black and white households persist even among the wealthy — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 453; Financial literacy explains almost none of the racial investment gap — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 459 (+3 more)