Bedard reported a study called "Wealth Implications of Slavery and Racial Discrimination for African-American Descendants of the Enslaved" recommended a payment of $151 million to each descendent of a slave.It's worth noting that's quite a bit more than "all the money on earth." Wikipedia tells us that the Gross Domestic Product of the world for 2019 was about $88 trillion, making the reparations about 70 years worth of all the money in the world, assuming zero growth in world GDP and 100% of the world GDP going to the American descendants of slaves. Of course, there have been no slaves in the US since the 1860s unlike today's middle east or lots of other countries. The US produces 2/3 of the world's GDP, so since we'd be the only country paying this, it consumes our entire GDP for 105 years.
He explained the study essentially calculates the unpaid hours slaves worked, a price for massacres and discrimination, and adds interest.
The study states, "Whether the full cost of slavery and discrimination should be compensated, or only a portion, and at what interest rate remain to be determined by negotiations between the federal government and the descendant community."
Since only about a third of the American population pays income tax, or about 100 Million people, the tax bill due American taxpayers amounts to $62 million per taxpayer.
Those numbers indicate it's impossible. It'll never happen. I can imagine no scenario in which the total economic output of the US could be collected for 105 years; that's at least four generations of people. Then consider that all of these numbers are based on American people for the next 105 years not getting anything they work for. Since letting them starve to death would mean zero tax collected, we couldn't collect 100%. Which stretches 105 years out even farther. They're saying they want reparations for slavery by enslaving the next six or seven generations of Americans? That's not reparation, it's revenge.
What could they do? If they played Liz Warren and stole every penny from every billionaire in the US, I don't think we could drop that $6200 billion bill down to $6,000 billion; most of that wealth is in the hardware of the companies they own, it's not like they're swimming in gold coins like Scrooge McDuck. If they tried to create $6.2 quadrillion from thin air, as they've done with economic stimulus for the last (nearly) 50 years, the dollar would collapse to worthlessness. It would literally be worth less than paper it's printed on.
WND concludes with this cheery thought.
If American taxpayers think, however, they're going to get by with paying only $6.2 quadrillion, they shouldn't put away their checkbooks just yet.I certainly hope there are some adults in the room that will tell them how insane these ideas are.
The same study claims the value of lost freedom to Japanese American World War II internment detainees could be $16 quadrillion.
The letter. Screen capture from SCRIBD.
Perhaps Zimbabwe notes might be useful here.
ReplyDeleteYes, pay them in African currency...
DeleteThe US Counsel of Mayors can eat my shorts, after a 3 day chili-fest.
ReplyDeleteIt sounds good, as long as the money comes out of someone else's pocket.
My real personal feelings? Any mayor that signed this concept letter should be hung for fiscal irresponsibility and lack of functioning concept of logic.
And for not being able to count higher than 20.
Deletehow about 0...you get bupkus
ReplyDeleteI want reparations for the damage the Africans have done to us.
ReplyDeleteMillions for defense.
ReplyDeleteNot one penny for tribute.
There are no adults in these rooms. There are only sacks of rage bouncing off the walls, leaving slime trails on the floor.
ReplyDeleteBut whatever they might calculate, which of course would be bogus, they will need to deduct the costs of all expenditures from the Civil Rights '60's as a refund on all the theft done to the American Taxpayer and receipt of nothing in return. Well, of course there were some contributions, but very few.
ReplyDeleteAny computed value of "reparations" should anyway be offset by the value of all the benefits provided to black Americans over the years including all social benefits covering handouts/subsidies for housing, family assistance, welfare, education, affirmative action and many other such, plus the costs of the disproportionate effects of black criminality etc to society overall. And what about the huge costs of implementing the abolition of slavery?
ReplyDeleteI checked the numbers just now. About, and a bit over, 360,000 in the northern army died in the Civil War that effectively ended slavery in the United States. So far as I'm concerned - that's reparation enough. Debt paid. Even more; where's the gratitude for my ancestors spilling their blood so that the current generation of U.S. people of color don't suffer the actual slavery currently endemic to so many other nations. No group of people (the soldiers of the Union Army) in any other nation on earth has done so much to ensure freedom for all.
ReplyDeleteDon't he a hater.
ReplyDeletePass that bill; levy that tax, and mandate that it be paid immediately.
Just one proviso: address the bill to Jefferson Davis, POTCSA, via the USPS, and furthermore stipulate that the reparation bill must be paid in Confederate money. Just for a cherry on the cake, stipulate that all payees will have their largesse reduced by an identical levee against ther bill, payable to every descended of a Civil War Union Army veteran, using the same financial calculus.
(After deducting from the total reparations owed every federal and state dollar spent on racial equality and entitlements to those same slave descendants since 1866. Fair is fair.)
Then tell the pinheaded jackholes behind it to STFU, toddle off, and go f**k themselves. Sideways, with a rusty chainsaw.
If the subject comes up again, then declare that tarring and feathering the proposers is protected free speech, just like flag burning, and declare any state statutes regarding assault, battery, or mayhem in any such cases to be null and void, and entirely superceded by federal law to the contrary, thus ending this debate for all time, while opening up the fascinating prospect of tar-and-feathering telecasts on Sunday Sports programs.
The US Council of Mayors most certainly is an arm of the Communist Party USA.
ReplyDeleteAmericans had better wake up as over the past 70 years or more Americas bedrock institutions in media, arts, film, education, sports, industry, retail and even government have adopted communism as its guiding principles for future America.
While none have stepped forward and sworn alliegence to communism it is their actions and inactions, policies, and political persuasions that signal they have chosen Marxism. These organizations and other individuals are funding and facilitating the ongoing insurgency being carried out by BLM and Antifa.
It most certain in my opinion that whoever is elected to the presidency in November that todays insurgency will continue and accelerate into civil war. Prepare Accordingly