 |
| via San Francisco Reparations |
In a spectacular display of what happens when woke politics intersects utter financial illiteracy, a San Francisco government advisory committee on reparations has recommended the city pay eligible black residents age 18 years and older $5 million apiece.
That's just the headline recommendation of the San Francisco African American Reparations Advisory Committee (AARAC), which was created by the city's board of supervisors amid 2020's nationwide racial tumult.
Next on the wish list: "a comprehensive debt forgiveness program that clears all educational, personal, credit card, payday loans, etc." The group said this measure will get blacks out of "an inescapable cycle of debt" so they can "build wealth."
Rivaling the $5 million payment as an eyebrow-raiser, the committee also wants a welfare program that targets a $97,000 annual income for low-income blacks for the next 250 years.
That's right: a quarter-millennium of near-six-figure per capita handouts. “Centuries of harm and destruction of black lives, black bodies and black communities should be met with centuries of repair,” AARAC chair Eric McDonnell told the San Francisco Chronicle.
As with every leftist agenda item, this one demonstrates a profound obliviousness to the influence of incentives on individual human action: There's no surer way of guaranteeing an individual will stay "low-income" than promising to round them up to $97,000.
But wait -- there's more: Those who qualify for reparations should also receive payroll tax, business tax and property tax credits, the panel says. --->READ MORE HERE
Black attorneys have slammed San Francisco's reparations committee for its proposal to give every longtime black resident a $5million payout in the summer.
Leo Terrell and former California gubernatorial candidate Larry Elder called the proposal 'outrageous, unconstitutional and unlawful' and even racist in an interview on Fox News' Hannity Monday night - and vowed to fight it.
They demanded to know who is going to fund the large payout — estimated to cost the city at least $50billion — noting that California was never a slave state.
But the woke city is already preparing to move forward with the proposal, with the reparations committee saying it will submit the plan to Mayor London Breed, the San Francisco Board of Supervisors and the San Francisco Human Rights Commission in June.
Under the proposal announced Monday, anyone who has identified as black on public records for at least 10 years and is at least 18 years old qualifies for the $5million payout.
They also must qualify for two of a number of requirements, including having been born in the city or migrated to it between 1940 and 1996 and then lived there for 13 years.
But the $5million payout is just the beginning of the draft's proposals.
It would also involve a lump sum payment to 'compensate the affected population for the decades of harms that they have experienced, and will redress the economic and opportunity losses that Black San Franciscans have endured, collectively, as the result of both intentional decisions and unintended harms perpetuated by City policy.'
The proposal also says qualifying low-income households should have their income supplemented to match the city's median income - $97,000 in 2022 - for the next 250 years.
And black residents who qualify for the program can get their debts forgiven, including their housing and student loans. --->READ MORE HERE
If you like what you see, please "Like" and/or Follow us on FACEBOOK here, GETTR here, and TWITTER here.
No comments:
Post a Comment