1/3 Piecemeal “reparations” at state, local, private institutional, or individual levels will undercut movement for a comprehensive national plan that entirely eliminates the racial wealth gap. They are a dangerous diversion from the path to justice. researchgate.net/publication/35…
2/3 Harvard, an institution with a $53 billion endowment, sets aside a petty $100 million as its act of “reparations.” Far better to use its clout and influence to form a coalition to lobby and petition Congress for a comprehensive national plan for #purereparations.
3/3 And who knows who came up with the silly Arizona pledge campaign. If private donors put $1 billion into a fund for reparations each month it will take a millennium to reach the minimum $14 trillion required to close the wealth gap. The federal government must pay the debt.
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In a spirit of conciliation let me say at the outset I favor student debt cancellation. What disturbs me are extravagant claims like the assertion it will raise black wealth by 40%. Let’s run the numbers.
Average black student loan debt among those holding debt is about $24K. But black enrollment rates are 37%; adjusting for that per capita black student loan debt is about $9500. Per capita average black wealth is about $47K. $9500 is closer to 20% than 40%.
Since student debt cancellation is universal, it will have virtually no effect on the racial wealth GAP. researchgate.net/publication/35…
For those who say American racial economic inequality is subordinate to class inequality, plz see Table 2. @FenabaAddo and I show white working household heads consistently have 2-3 times the net worth of median black professional managerial black heads. journals.sagepub.com/doi/pdf/10.117…
There is hardly any black “upper class.” 1/4 of white households have a net worth > $1 million. Only 4% of black households. Wealth is grossly unevenly distributed within all American social groups. But the maldistribtion is over a disproportionately smaller share for blacks.
Black American descendants of US slavery are 12% of the population but possess less than 2% of the nation’s wealth. Whites constitute about 70% of the population but have >
90% of America’s wealth.
Thank you to @MHarrisPerry@dorianwarren and @aisha_nyandoro for a thoughtful conversation about President Biden's proposals to "close the racial wealth gap." There are, however, some nuances that I wish had been entered into the conversation:
First, black heads of household with a college degree actually have a lower level of wealth than white heads of household who never finished high school, not just those who have high school diplomas. @MHarrisPerry
Second, there was no mention of how large the racial wealth gap is in fact; it is more than $11 trillion. So Biden's proposals that amount to no more than $50 billion per annum simply cannot have much of an effect. @MHarrisPerry@dorianwarren@aisha_nyandoro
I challenge Ms Integrity, @JAMAiwuyor, to post screenshots and page numbers of passages in From Here to Equality where @IrstenKMullen and I made either of the two statementsx she falsely attributes to us.
Long thread
In From Here to Equality on pages 43-44 we argue there are salient differences between the experiences of black American descendants of US slavery and recent black immigrants in the US.
We say on p.44 of #FHTE “...ith is misleading to depict as synonymous the experience of ethnic immigrants or immigrants of color and African-Americans taken collectively... “
1/ 6 I would prefer not to invest my time in responding to such shoddy research as the so-called Harvard “disinformation” study, but I’ve received so many comments and requests, I’m compelled to do so.
2/6 A central problem is the lack of clarity over whom was identified as the “voices” of ADOS. The report ultimately reads like an extension of the old “Russian bots” smear campaign against ADOS.A shabby process of determining whose Tweets are evaluated produced a desired result.
1/4 As a number of us anticipated black folk are being recruited excessively as subjects for coronavirus vaccine clinical trials, including college presidents at Xavier and Dillard imploring their students to join trials. Other med centers are targeting the local black community.
2/4 I feared that the fact that we are disproportionately affected by the disease (3 times the mortality rates of other groups) would become the rationale for encouraging us to disproportionately be the guinea pigs for previously untested vaccines.
3/4 These are not trials for a curative medication that, understandably, might be given to folk who are suffering severe symptoms from the disease. These are tests of candidate vaccines intended to prevent infection, and there are at least two dangers: