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Generational Black Wealth vs Racism

Time Zone: EST (New York, Toronto)
Messenger: IPXninja Sent: 3/28/2022 12:17:38 PM

The task force co-chairs for this are Marcia Fudge and Susan Rice; two strong black women. The reason they can be trusted to make important reforms in this area is that they have a personal vested interest. Period. We can and should distrust politicians. However, we should work with those who are willing to serve our interests and make sure they understand that they need us.

This action plan, called PAVE Action Plan, was born out of this. Did it come from Trump? No. Because Republicans don't want this. They want to keep the wealth gap the same. There are 2 reasons for this.

1. Wealth = Power
2. White Wealth = White Power

Most of you will understand this without any commentary or discussion.

One of the tricks of white supremacy is related to ownership. Now we know that it "takes money to make money". And we can clearly see that the more money you have to start with, the more you can invest, the more money you can make and the more financial security you can obtain.

Right now the housing market in the US is in a bubble. Home values are inflated. I bought my house for $217,000 just a couple of years ago and right now its estimated at $283,800 (zillow). Since I'm only really paying interest at this point (not principle) the bank has most of this. However, if I were to sell tomorrow I could likely get $300,000 for it (zillow doesn't know about my renovations).

Real estate is how a lot of the richest people have made their wealth. But when it comes to black neighborhoods...

My mother lives in a black neighborhood in the city of Dayton. Her home value has barely moved.

These appraisals set the expectation, both what the buyer expects to pay and what the owner believes they can sell it for. Because black home values stagnate they don't have extra money from the sale of their current house, to buy a much nicer property. They're basically just getting back the equity they managed to put in. So they can't just buy a nice home, hold it down for a couple of years, and then sell at a profit. But this is what white folk are able to do. And yes there are poor white communities where their home values don't grow as much either, but this is not nearly as bad as black communities.

The idea that white communities have a higher value than black communities attracts higher wage earners to white communities which directly empowers them to have better schools and local opportunities. It's a domino effect. So by attacking this idea we can finally tackle one of the things that is at the heart of white supremacy in the US and put ourselves on a better track to gain more wealth and power.

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Haile Selassie I