Some San Francisco residents may receive $5 million in reparations after Board expresses ‘unanimous' support

[RoshawnMarkwees]

From Black slaves and their descendants.

No one stole anything from slaves. They were slaves. They had no ownership. It’s impossible to compensate those freed slaves who did have property confiscated because they’re all dead.

 

[multivita-man]

No one stole anything from slaves. They were slaves. They had no ownership.

That's a legalistic argument one could attempt to make, but that ignores their humanity. I reject that position. Most people would if they were in the position of Black Americans, though I don't expect to change your mind on that.

It’s impossible to compensate those freed slaves who did have property confiscated because they’re all dead.

Again, heritable wealth. What does the word heritable mean? It means transferable, like an estate. You think white people and black people start out as socio-economic equals with every new live birth? That's a naive position. The Rockefellers, Duponts, and Fords are *still* very, very wealthy well over a century after their original family fortune was made. Obviously, the rest of us aren't that wealthy, but you get the idea.

 

[Unkotare]

Asians perhaps but too many illegal highspanics still benefit from democrat policy.

If they are here illegally, how are they going to vote (in large numbers, leaving aside instances of fraud).

 

[Lisa558]

That's a legalistic argument one could attempt to make, but that ignores their humanity. I reject that position. Most people would if they were in the position of Black Americans, though I don't expect to change your mind on that.



Again, heritable wealth. What does the word heritable mean? It means transferable, like an estate. You think white people and black people start out as socio-economic equals with every new live birth? That's a naive position. The Rockefellers, Duponts, and Fords are *still* very, very wealthy well over a century after their original family fortune was made. Obviously, the rest of us aren't that wealthy, but you get the idea.

So is the argument that blacks would each be worth $5 million if their ancestors weren’t slaves?

The average net worth of white Americans is about $160,000. What makes you think that blacks, had their ancestors not been slaves, would have accumulated 30 times the net worth of whites?! Are you saying that blacks are 30 times more capable, 30 times better investors, 30 times more disciplined savers?

i’m not in favor of giving reparations to people who haven’t earned it, but at best an argument could be made for $16,000 per year, for 10 years. This $5 million - PLUS a free house - PLUS an income of $97,000 a year for 250 years is pure insanity.

Average Net Worth by Age, Education, and Race | The Motley Fool

The average household net worth is $192,700. But age, education, and race play a big role.

www.fool.com

 

[ThisIsMe]

$5 million dollars would last for over 50 years if you withdrew $97,000 per year, and that is without interest
so actually they would be getting about $194,000 per year

No, it’s MUCH more than that. You’re not thinking of the full picture. It’s not 5 million per family, it’s per individual. So, if it’s mom and dad, that’s $10 million, plus if they have a live in parent, that’s another 5 million, plus if they have a child living with them that’s over 18, they will get 5 million. So that house will get $20 million, plus each gets..what is it? $97,000 per year? So, let’s say 100k, so that house is getting 20 million plus $400,000 per year income.

Now, if they take that 20 million and invest it, even if they get a 7% return per year, that’s 1.4 million per year capital gains, plus the $400k guarantees income..

So, in that scenario, if they pooled their money, they could make almost $2 million per year.

If i did my math right…

 

[RoshawnMarkwees]

That's a legalistic argument one could attempt to make, but that ignores their humanity. I reject that position. Most people would if they were in the position of Black Americans, though I don't expect to change your mind on that.



Again, heritable wealth. What does the word heritable mean? It means transferable, like an estate. You think white people and black people start out as socio-economic equals with every new live birth? That's a naive position. The Rockefellers, Duponts, and Fords are *still* very, very wealthy well over a century after their original family fortune was made. Obviously, the rest of us aren't that wealthy, but you get the idea.

Then you’d have to pay off the vast majority of non-blacks as well. Most whites don’t come from anything heritable.
Blacks were not the only slaves in history and blacks captured, owned and sold slaves, too.

 

[OhPleaseJustQuit]

You made no point that I'm interested in trying to 'get'. I don't come here to agree with you, nor do I write to persuade you. I come here to explain things from a different viewpoint, knowing full well you won't accept it. I don't care.

.


There's my funny little pet. Where've you been? I missed your entertainment.

Thanks for the thought provoking post.



.

 

[OhPleaseJustQuit]

No, it’s MUCH more than that. You’re not thinking of the full picture. It’s not 5 million per family, it’s per individual. So, if it’s mom and dad, that’s $10 million, plus if they have a live in parent, that’s another 5 million, plus if they have a child living with them that’s over 18, they will get 5 million. So that house will get $20 million, plus each gets..what is it? $97,000 per year? So, let’s say 100k, so that house is getting 20 million plus $400,000 per year income.

Now, if they take that 20 million and invest it, even if they get a 7% return per year, that’s 1.4 million per year capital gains, plus the $400k guarantees income..

So, in that scenario, if they pooled their money, they could make almost $2 million per year.

If i did my math right…

.

Well, now, there's some inspiration for cranking out some more little groid babies before anything gets passed!

.

 

[multivita-man]

So is the argument that blacks would each be worth $5 million if their ancestors weren’t slaves?

I did not say that.

The average net worth of white Americans is about $160,000.

Well I don't feel quite that wealthy but I haven't looked at all my numbers lately, so maybe you're right.

What makes you think that blacks, had their ancestors not been slaves, would have accumulated 30 times the net worth of whites?! Are you saying that blacks are 30 times more capable, 30 times better investors, 30 times more disciplined savers?

Not at all, and I don't think SF's policy is a good idea. I'm just saying I'm not opposed to some form of reparations, but some ideas are better than others. SF seems to be going bonkers even by SF standards.

i’m not in favor of giving reparations to people who haven’t earned it

Lots of people get things they don't necessarily earn or deserve - that's not a strong argument to make, IMO.

I mean a lot of white people get wealth they didn't deserve off the backs of enslaved or underpaid black laborers. White people got social security years before millions of black people did because there were loopholes created in the system to allow governors in Southern states to deny these benefits to black laborers - even though they probably had to pay the taxes to give those benefits to whites. And decades of discrimination by banks against prospective black home buyers meant that whites had an easier time building an estate that could be passed onto their children than blacks did.

 

[multivita-man]

.


There's my funny little pet. Where've you been? I missed your entertainment.

Thanks for the thought provoking post.



.

You bore me, but if you amuse yourself, more power to you.

 

[OhPleaseJustQuit]

You bore me, but if you amuse yourself, more power to you.

.


You're getting better at this,

Jump a little higher and maybe you could squeak louder.

We're counting on you.

Thanks for your thought provoking post.



.

 

[OhPleaseJustQuit]

I did not say that.



Well I don't feel quite that wealthy but I haven't looked at all my numbers lately, so maybe you're right.



Not at all, and I don't think SF's policy is a good idea. I'm just saying I'm not opposed to some form of reparations, but some ideas are better than others. SF seems to be going bonkers even by SF standards.



Lots of people get things they don't necessarily earn or deserve - that's not a strong argument to make, IMO.

I mean a lot of white people get wealth they didn't deserve off the backs of enslaved or underpaid black laborers. White people got social security years before millions of black people did because there were loopholes created in the system to allow governors in Southern states to deny these benefits to black laborers - even though they probably had to pay the taxes to give those benefits to whites. And decades of discrimination by banks against prospective black home buyers meant that whites had an easier time building an estate that could be passed onto their children than blacks did.

.


Oh, I'm getting jealous, Lisa558, my little pet monkey wants to play with you!

Be nice to it.

Thanks for your thought provoking post.



.

 

[ThisIsMe]

.

Well, now, there's some inspiration for cranking out some more little groid babies before anything gets passed!

.

If you ever wanted to destroy a state…this is how you do it.

If they do this, the rest of the state will be up in arms demanding the same thing.

What do you think those people who receive it will do? My guess, they will quit their jobs, no need to work anymore if you are earning 2 million per year income (and if they reinvest, it will go up).

Many will also move out of California to low or no tax states and they will all vote against taxes on capital gains.

In short….California would collapse.

 

[multivita-man]

.


Oh, I'm getting jealous, Lisa558, my little pet monkey wants to play with you!

Be nice to it.

Thanks for your thought provoking post.

Whatever you do...for the love of God, don't shock your monkey. Not here. You keep that to yourself.

 

[Lisa558]

No, it’s MUCH more than that. You’re not thinking of the full picture. It’s not 5 million per family, it’s per individual. So, if it’s mom and dad, that’s $10 million, plus if they have a live in parent, that’s another 5 million, plus if they have a child living with them that’s over 18, they will get 5 million. So that house will get $20 million, plus each gets..what is it? $97,000 per year? So, let’s say 100k, so that house is getting 20 million plus $400,000 per year income.

Now, if they take that 20 million and invest it, even if they get a 7% return per year, that’s 1.4 million per year capital gains, plus the $400k guarantees income..

So, in that scenario, if they pooled their money, they could make almost $2 million per year.

If i did my math right…

Let’s just laugh over the insanity of it all.

Otherwise, I’d cry at what the radical left is attempting to do.

 

[OhPleaseJustQuit]

Whatever you do...for the love of God, don't shock your monkey. Not here. You keep that to yourself.

.


No, we leave that you you leftist vermin who have no control of your genitals.

That's why there are so many baby rapers and murderers and mutilators on the left.

Thanks for your thought provoking post.



.

 

[Lisa558]

.


Oh, I'm getting jealous, Lisa558, my little pet monkey wants to play with you!

Be nice to it.

Thanks for your thought provoking post.



.

I think I missed something. You’re answering vitamin-man.

 

[Doug1943]

I think the patriots are really missing an opportunity here.

OF COURSE we should demand that California, and every Blue State, pay a huge, whopping amount of Reparations ... no amount is too great, if your ancestors were slaves.

All the wealth of America is based on stolen land and strolen labor. So of course we must support our liberal friends when they want to return it ... in their own states.

We should do everything in our power to pressure California, and other Blue states, to start quickly to commit to paying the largest possible sums. We must help anyone who could get this money, to move to these kind, generous Blue states.

And in return, we must be willing to take in refugees from these states.

This is the Cloward-Piven strategy, applied to the Blue States. If you haven't heard of it, read about it here:
[ Cloward–Piven strategy - fundamentally transforming America | CAIRCO Report - Colorado Alliance for Immigration Reform | issues research ]

 

[Lisa558]

.


Oh, I'm getting jealous, Lisa558, my little pet monkey wants to play with you!

Be nice to it.

Thanks for your thought provoking post.



.

Oh wait!! I get it now! Yes, I will play nice with it.

 

[Lisa558]

I did not say that.



Well I don't feel quite that wealthy but I haven't looked at all my numbers lately, so maybe you're right.



Not at all, and I don't think SF's policy is a good idea. I'm just saying I'm not opposed to some form of reparations, but some ideas are better than others. SF seems to be going bonkers even by SF standards.



Lots of people get things they don't necessarily earn or deserve - that's not a strong argument to make, IMO.

I mean a lot of white people get wealth they didn't deserve off the backs of enslaved or underpaid black laborers. White people got social security years before millions of black people did because there were loopholes created in the system to allow governors in Southern states to deny these benefits to black laborers - even though they probably had to pay the taxes to give those benefits to whites. And decades of discrimination by banks against prospective black home buyers meant that whites had an easier time building an estate that could be passed onto their children than blacks did.

OK, I‘m not going to have time to delve into this with you as much as I like - I’m preparing for a busy day tomorrow - but for the sake of argument, what do you think of bringing blacks up to the level of the average net worth of a white person?

I posted the link that shows the average net worth of whites is $160,000. (You’re right - the average skews high because of some ultra-rich people, but let’s just go with it for now.) What about $16,000 per family for 10 years?

Because the last thing you’d want to do is drop a lot of money all at once and turn blacks into jobless, lazy people who will never contribute an ounce of effort to society.