More Calls For Slavery Reparations
There have been calls for slavery reparations for decades but those voices have gotten louder due to the death of George Floyd at the hands of a police officer. The founder of Black Entertainment Television (BET) billionaire Robert Johnson is calling for reparations to the tune of $14 trillion dollars be given to 40 million black people.
Concerning the $14 trillion Mr. Johnson said:
I’m talking about cash. We are a society based on wealth. That’s the foundation of capitalism
How we are going to come up with that kind of “cash” when there is only $1.5 trillion in physical cash in the U.S. economy and only $36.8 trillion in every kind of currency in the whole world. Johnson has not informed us and why get bogged down in such trivial details like that. I understand that the government could just electronically credit those funds to a bank account but I wanted to give you the context of the $14 trillion he is asking for when compared to all the cash in the world. Could you imagine what that amount of creating money out of thin air would do to inflation? The price of everything would spike almost immediately.
On CNBC’s Squawk Box show Mr. Johnson states:
Wealth transfer is what’s needed...Think about this. Since 200-plus-years or so of slavery, labor taken with no compensation, is a wealth transfer. Denial of access to education, which is a primary driver of accumulation of income and wealth, is a wealth transfer.
He went on to say:
Damages is a normal factor in a capitalist society for when you have been deprived for certain rights...If this money goes into pockets like the [coronavirus] stimulus checks … that money is going to return back to the economy.
Mr. Johnson literally means cash, he does not want any more government programs he wants cold hard cash to be handed over to 40 million black people. We are talking about a lot of money, hundreds of thousands of dollars per person.
I have a few questions I would like Mr. Johnson to answer, they are:
- Who exactly would have to pay all of this cash? If you say the federal government then people who immigrated to the United States long after slavery would be on the hook. Many of them suffered from discrimination.
- Would ancestors of the more than 642,000 Union soldiers who died to abolish slavery be exempt and would they get a big fat check?
- What about the 2 million men who risked their lives during the war are their ancestors exempt from paying and do they get a check?
- Data from the 2010 census stated that 8 million Americans identified as two or more races with another 3.1 million black people identifying themselves as mixed race and 1.8 million people self-identified as white and black. Do they get cash?
Mr. Johnson went on to say:
"Wealth transfer is what's needed...Think about this. Since 200-plus-years or so of slavery, labor taken with no compensation, is a wealth transfer. Denial of access to education, which is a primary driver of accumulation of income and wealth, is a wealth transfer."
Mr. Johnson, you say that black people have been denied access to education which you believe and I agree with "is a primary driver of accumulation of income and wealth". What political ideology and party have been running public education for decades and decades, why that would be the left's ideology and the Democratic Party. Why does the black community continue to vote for them if you feel they have failed them at so many levels?
Why did you not bring up that one of the number one reasons of poverty is getting pregnant as a teenager and/or out of wedlock and single-parent households?
You should read what Economist Walter Williams has to say about Dependancy Not Poverty.
Mr. Johnson is a very smart man and he knows the true underlying problem in the black community which is mostly the same in the poor white and all other poor communities he is just afraid to address it head-on.
He and others point to Federal Reserve data that states the median net worth of black families in America is $17,150 compared to white families $171,000, which is a $153,850 difference.
If that data is true Mr. Johnson what would you say to all the families who are not black and have net worths of $20,000 or less, do they get a check?
Too many people believe that money solves all problems when in fact it solves very few systemic problems. Yes, it will pay some bills and cars can be bought with cash and some very nice down payments made on a home. Can anyone honestly say that is what the actual problem is in these communities?
What about the questionable education delivered by the public schools in these inner cities teaching social justice curriculum instead of more reading, writing and arithmetic. How about the number of single-parent households, will cash solve that?
If the cash is actually handed out will that be the end of it?
Will more not be asked for?
Will we forever be able to tell the race baiters to shut their mouths?
Will the black community and mainstream manipulative news totally ignore and ostracize the race baiters?
So many unanswered questions.
One protestor was asked now that all four officers involved with the George Floyd killing are arrested what was their response:
It is not enough!