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The problem is that there are vastly more low-income White households than low-income Black households, meaning income isn’t as solid a proxy for race as it may seem. Using family wealth as an admissions factor has more potential because the racial gap in families’ net worth is even more staggering than the racial gap in their yearly incomes: White Americans have 10 times more wealth than Black Americans. Advocates of this approach point to UCLA’s law school, which has such a policy, to show its success. So wealth is something of a proxy for race, though by no means a perfect one.
https://www.washingtonpost.com/opinions/2023/07/21/supreme-court-race-admissions-diversity/
https://www.washingtonpost.com/opinions/2023/07/21/supreme-court-race-admissions-diversity/