06-25-2019, 09:04 AM
What would the economic impact be?
According to the Federal Reserve’s Survey of Consumer Finances, the median wealth of black households is $16,000, compared with $163,000 for whites.
Reparations are not likely to eliminate the racial wealth gap, but could narrow it somewhat. Low-income families, with the fewest assets, would benefit the most.
The biggest economic objection is that any meaningful program would be unaffordable. Like other government spending, reparations would ultimately be paid for by some kind of tax or fee, or borrowing, say, through government bonds. Such a program would almost certainly require increasing the federal debt and be structured over time.
Those less worried about a growing deficit could argue that reparations would be a boon over the long run — lifting people out of poverty, and improving their earning potential and buying power.
Source for posts #9 through #15: https://www.nytimes.com/2019/05/23/busin...avery.html
According to the Federal Reserve’s Survey of Consumer Finances, the median wealth of black households is $16,000, compared with $163,000 for whites.
Reparations are not likely to eliminate the racial wealth gap, but could narrow it somewhat. Low-income families, with the fewest assets, would benefit the most.
The biggest economic objection is that any meaningful program would be unaffordable. Like other government spending, reparations would ultimately be paid for by some kind of tax or fee, or borrowing, say, through government bonds. Such a program would almost certainly require increasing the federal debt and be structured over time.
Those less worried about a growing deficit could argue that reparations would be a boon over the long run — lifting people out of poverty, and improving their earning potential and buying power.
Source for posts #9 through #15: https://www.nytimes.com/2019/05/23/busin...avery.html