Zone1 REPARATION NOW! The US Owes $350,000 To Every Black American
- Thread starter IM2
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I think that is a diversionary argument given it helped multiple groups, particularly White women. Reparations given to Japanese Americans, for their internment, was given to them specifically, not a range of disadvantaged groups. For reparation to be reparation, it needs to acknowledge those wrongs and address the damages for that group.
It has been in my lifetime.
- Mar 11, 2015
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- #64
Cash reparations have been paid to other groups for things done before we were born and none of this nonsense was spoken. Italians are white.
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That's not how it happened.
Reparations even after affirmative action?
Not sure how it all would be quantified at this point. $350,000 for this generation?
Then what about the next generation and the following generations?
Even Newsome backed away from the reparations conversation in his state.
Not going to happen, even if IM2 thinks it is. It's just pie in the sky.
I know with IM2, it has always been about the money.
Not sure how it all would be quantified at this point. $350,000 for this generation?
Then what about the next generation and the following generations?
Even Newsome backed away from the reparations conversation in his state.
Not going to happen, even if IM2 thinks it is. It's just pie in the sky.
I know with IM2, it has always been about the money.
The topic is reparations guys…let’s stick to that.
Thread has had a massive cleanup worthy of a hazmat designation. There was a considerable amount of off topic derailments and all out trolling. Some warnings were issued and some thread bans.
From this point discuss the topic, cool it on the flaming and insults, no more accusing members of racism and racist trolling.
Violates will be threadbanned without mercy.
Thread has had a massive cleanup worthy of a hazmat designation. There was a considerable amount of off topic derailments and all out trolling. Some warnings were issued and some thread bans.
From this point discuss the topic, cool it on the flaming and insults, no more accusing members of racism and racist trolling.
Violates will be threadbanned without mercy.
Oddball
Unobtanium Member
How many years have blacks been forced to pay so whites could accumulate wealth? Seems that these white extremists fail to recognize this part of American history.
Citygroup did a study focusing on U.S. GDP from 2000 until 2020.The study revealed huge losses in GDP due to continuing discrimination against blacks in business revenue, education, housing credit, and income.The study determined that since the year 2000, continuing discriminatory practices in four areas resulted in aloss of 16 trillion dollars in GDP.
“Closing the Black racial wage gap 20 years ago might have provided an additional $2.7 trillion in income available for consumption and investment.
Improving access to housing credit might have added an additional770,000 Black homeowners over the last 20 years, with combined sales andexpenditures adding another $218 billion to GDP over that time.
Facilitating increased access to higher education (college, graduate,and vocational schools) for Black students might have bolstered lifetimeincomes that in aggregate sums to $90 to $113 billion.
Providing fair and equitable lending to Black entrepreneurs might haveresulted in the creation of an additional $13 trillion in business revenue overthe last 20 years. This could have been used for investments in labor,technology, capital equipment, and structures and 6.1 million jobs might havebeen created per year.”
Closing the Racial Inequality Gaps
Our ambition in this report is for this analysis to bring sober perspective as well as hope to our readers as we collectively find substantive and sustainable opportunities to address the gaps we identify.icg.citi.com
Lastamender
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."I didn't know you were over 160 years old".
- Mar 11, 2015
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Why do some of you guys pretend as if blacks are the only ones who have ever petitioned THE GOVERNMENT for reparations?
Now before I start, the whites who oppose reparations need to look at what whites have been given by the government. I'm not going to include the free land given to indentured servants when their servitude was done when America was a colony.
These things whites got that blacks were excluded from and black tax money help pay for. You guys talk about what you won't pay for but the wealth of this country on which the compound interest we live on today was created off the backs of my ancestors.
The infant American financial industry nourished itself on profits taken from financing slave traders, cotton brokers and underwriting slave-backed bonds. But though slavery ended in 1865, in the years after the Civil War, black entrepreneurs would find themselves excluded from a financial system originally built on their bodies. As we remind our students in our new online course American Capitalism: A History, African-Americans — unable to borrow either to buy property or start businesses — lived in a capitalist economy that allowed them to work, but not to benefit.
More recently, history repeated itself — or more accurately, continued. The antebellum world eerily prefigured the recent financial crisis, in which Wall Street securitization once again stepped in to strip black families of their wealth.
In the 1990s red-lining began to end and black homeownership rates began to rise, increasing the typical family’s wealth to $12,100 by 2005 — or one-twelfth that of white households. In those years, African-American family incomes were also rising about as rapidly as white family incomes. And yet, African-American buyers, playing catch-up after centuries of exclusion from the benefits of credit, still typically had lower net worth and credit ratings. They paid higher interest rates and fees to join the housing bubble, and so securitizing their mortgages brought enormous profits to lenders and investors.
Then the crash of 2008 came. By 2010, median African-American household wealth had plunged by 60 percent — all those years of hard work lost in fees, interest, and falling prices. For whites, the decline was only 23 percent, and those losses were short-lived. Lenders resumed lending to white borrowers, restoring the value of their assets. But African-American borrowers have had a much harder time getting new loans, much less holding on to property bought at securitization-inflated prices. Median white household wealth is now back up to 22 times that of blacks — erasing African-Americans’ asset gains over the preceding 20 years.
For the past 200 years, the success of American finance has been built on the impoverishment of African-American families. We should remember the heroic struggles of African Americans to get political equality, but to forget their exclusion from our financial system, except as a source of exploitation, is to miss a basic truth of not only black history but financial history.
norbertobarreto.blog
Blacks have approximately 1.5 trillion dollars deposited in white banks but blacks can't get a business loan as easy as whites. And the excude of credit has no merit. Reparations are asked because of the effects of racial discrimination that began with slavery and has yet to stop. It's a case against the governments of this nation. Whites like most of you have fallen for the greatest act of race baiting of all time, that is tge belief that you will be made to pay out of your pocket for reparations. Reparations will be paid and not one of you will lose on red cent out of your personal earnings.
Today blacks pay taxes and watch our money go to provide TIFFS and tax abatements for white businesses while we can't get the same free money. And I do say free money, because both of these things allow white businesses to make money for a specified period of time without having to pay taxes on what they earned. SSo spare me the standard whit objecton to reparations based on opinions coming from feelings instead of fact.
Now before I start, the whites who oppose reparations need to look at what whites have been given by the government. I'm not going to include the free land given to indentured servants when their servitude was done when America was a colony.
These things whites got that blacks were excluded from and black tax money help pay for. You guys talk about what you won't pay for but the wealth of this country on which the compound interest we live on today was created off the backs of my ancestors.
American Finance Grew on the Back of Slaves
The infant American financial industry nourished itself on profits taken from financing slave traders, cotton brokers and underwriting slave-backed bonds. But though slavery ended in 1865, in the years after the Civil War, black entrepreneurs would find themselves excluded from a financial system originally built on their bodies. As we remind our students in our new online course American Capitalism: A History, African-Americans — unable to borrow either to buy property or start businesses — lived in a capitalist economy that allowed them to work, but not to benefit.
More recently, history repeated itself — or more accurately, continued. The antebellum world eerily prefigured the recent financial crisis, in which Wall Street securitization once again stepped in to strip black families of their wealth.
In the 1990s red-lining began to end and black homeownership rates began to rise, increasing the typical family’s wealth to $12,100 by 2005 — or one-twelfth that of white households. In those years, African-American family incomes were also rising about as rapidly as white family incomes. And yet, African-American buyers, playing catch-up after centuries of exclusion from the benefits of credit, still typically had lower net worth and credit ratings. They paid higher interest rates and fees to join the housing bubble, and so securitizing their mortgages brought enormous profits to lenders and investors.
Then the crash of 2008 came. By 2010, median African-American household wealth had plunged by 60 percent — all those years of hard work lost in fees, interest, and falling prices. For whites, the decline was only 23 percent, and those losses were short-lived. Lenders resumed lending to white borrowers, restoring the value of their assets. But African-American borrowers have had a much harder time getting new loans, much less holding on to property bought at securitization-inflated prices. Median white household wealth is now back up to 22 times that of blacks — erasing African-Americans’ asset gains over the preceding 20 years.
For the past 200 years, the success of American finance has been built on the impoverishment of African-American families. We should remember the heroic struggles of African Americans to get political equality, but to forget their exclusion from our financial system, except as a source of exploitation, is to miss a basic truth of not only black history but financial history.
American Finance Grew on the Back of Slaves
American Finance Grew on the Back of Slaves By Edward E. Baptist and Louis Hyman Chicago Sun-Times.com March 7, 2014 Last weekend we watched the Oscars and, like most people, were pleased that “T…
norbertobarreto.blog
Blacks have approximately 1.5 trillion dollars deposited in white banks but blacks can't get a business loan as easy as whites. And the excude of credit has no merit. Reparations are asked because of the effects of racial discrimination that began with slavery and has yet to stop. It's a case against the governments of this nation. Whites like most of you have fallen for the greatest act of race baiting of all time, that is tge belief that you will be made to pay out of your pocket for reparations. Reparations will be paid and not one of you will lose on red cent out of your personal earnings.
Today blacks pay taxes and watch our money go to provide TIFFS and tax abatements for white businesses while we can't get the same free money. And I do say free money, because both of these things allow white businesses to make money for a specified period of time without having to pay taxes on what they earned. SSo spare me the standard whit objecton to reparations based on opinions coming from feelings instead of fact.
- Mar 11, 2015
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- #71
Why do you continue clinging to this disingenuous argument?
- Mar 11, 2015
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- #72
They do this hoping to get the thread closed.
- Mar 11, 2015
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- #74
Affirmative Action has not narrowed the wealth gap. Again, whites benefitted from it most. Why do you continue repeating this stupidity? And since this is a capitalist nation, equality = capital. Since blacks are 13.6 percent of the population, we should have 13.6 percent of the wealth. Reparations are coming, and probably within the next 20 years. Newsome hasn't backed down from squat and other local governments have actually began reparations.
Lord-Humungus
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Now that I got back my DNA test and it shows I am about 1% Sub Saharan African I thinks it’s past time my white overlords pay up for keeping me and my people oppressed for so long.
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- #76
Then you've missed millions in reparations paid to various native american tribes for stuff that happened every year. Italians became white just like every other white ethnic group and joined in on discriminating against non whites.
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Sad.
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- #78
None of this is happening.
Lord-Humungus
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