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[quote=Anonymous][quote=Anonymous]A financial payout will probably not work.

Look at what happens when people win the lottery.

Help has to come in the form of support for education and everyday support for black businesses and neighborhoods. And this education has to include financial literacy, family counseling, business literacy etc.

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That is not enough.

https://socialequity.duke.edu/wp-content/uploads/2019/10/what-we-get-wrong.pdf

"In 2018, Duke University’s Samuel DuBois Cook Center on Social Equity and the Insight Center for Community Economic Development published a report called “What We Get Wrong About Closing the Racial Wealth Gap” that examined the common misperceptions about the causes of the racial wealth gap and presented data and social-science research that refutes them all.

The study shows that the racial wealth gap is not about poverty. Poor white families earning less than $27,000 a year hold nearly the same amount of wealth as black families earning between $48,000 and $76,000 annually. It’s not because of black spending habits. Black Americans have lower incomes over all but save at a slightly higher rate than white Americans with similar incomes. It’s not that black people need to value education more. Black parents, when controlling for household type and socioeconomic status, actually offer more financial support for their children’s higher education than white parents do, according to the study. And some studies have shown that black youths, when compared with white youths whose parents have similar incomes and education levels, are actually more likely to go to college and earn additional credentials.

But probably most astounding to many Americans is that college simply does not pay off for black Americans the way it does for other groups. Black college graduates are about as likely to be unemployed as white Americans with a high school diploma, and black Americans with a college education hold less wealth than white Americans who have not even completed high school. Further, because black families hold almost no wealth to begin with, black students are the most likely to borrow money to pay for college and then to borrow more. That debt, in turn, means that black students cannot start saving immediately upon graduation like their less-debt-burdened peers.

It’s not a lack of homeownership. While it’s true that black Americans have the lowest homeownership rates in the nation, simply owning a home is not the same asset that it is for white Americans. Black Americans get higher mortgage rates even with equal credit worthiness, and homes in black neighborhoods do not appreciate at the same rate as those in white areas, because housing prices are still driven by the racial makeup of communities. As the Duke University economist William Darity Jr., the study’s lead author, points out, the ability to purchase a home in the first place is seldom a result of just the hard work and frugality of the buyer. “It’s actually parental and grandparental wealth that facilitates the acquisition of a home.”

It’s not because a majority of black families are led by a single mother. White single women with children hold the same amount of wealth as single black women with no children, and the typical white single parent has twice the wealth of the typical two-parent black family.

To summarize, none of the actions we are told black people must take if they want to “lift themselves” out of poverty and gain financial stability — not marrying, not getting educated, not saving more, not owning a home — can mitigate 400 years of racialized plundering. Wealth begets wealth, and white Americans have had centuries of government assistance to accumulate wealth, while the government has for the vast history of this country worked against black Americans doing the same."
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