The Budget and Tax Center’s weekly posting of Prosperity Watch takes a look at how North Carolina’s communities are grappling with stark racial income disparities. Economic exclusion has its roots in predatory and discriminatory economic policies dating back centuries.
The harm of that economic exclusion is stark. Communities of color are far more likely to live in poverty than their white counterparts. To match the state’s white poverty rate of 12.3 percent, approximately 464,000 North Carolinians of color would have to be lifted above the poverty line. Racial disparities keep the economy from reaching its full potential to the tune of $63.53 billion, meaning bringing down poverty among people of color is an economic imperative. It’s also a moral imperative too.