Reply to It's (finally) time for reparations. It's time for the US to pay its debt.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'd be all for creating a sovereign wealth fund for the United States.  We have so much money in the country that could be used for wayyyyyyy better investments than crappy programs like social security.

A sovereign wealth fund can be created without increasing taxes, and it can be weighted in its distribution for shares based on HHI.  Those below a certain threshold get more shares than those above it.  This would attack the root problem of wealth inequality that transcends race, and at the same time African Americans would benefit more because they have less wealth than white people.  But its a smarter political play because white people can still benefit too if they're below a threshold.  Wealth inequality is a problem for every race.  [/quote]

Is this an "opt-in" model? 
[/quote]

You can if you want to.  People can buy shares.  You could even base the price per share relative to someone's house hold income.  Poorer people could pay a lot less for a shares and literally acquire more wealth.  [b]No shares would be passed on to kids [/b]so that rich people can't buy up huge blocks and pass it to their offspring.  [/quote]

That still gives white people an advantage. If black wealth can't be handed down from generation to generation like it can for white investments then this doesn't really help the root issue: generational wealth accumulation.

[/quote]

"From shirtsleeves to shirtsleeves in three generations."

Do y'all understand wealth generation and what it is and is not?[/quote]

Yes, I understand. Do you? 
[youtube]https://www.youtube.com/watch?v=kyl4EJhq47A[/youtube]
[/quote]

Sounds like you don't.[/quote]

Explain why white people should be able to pass on their wealth from generation to generation but black people can't. AKA protection of white privilege. 
[/quote]

The whole Sovereign Wealth Fund idea is stupid. Social Security is one of the mainstays of the Black community, and there's no way some new allocation of "shares" is going to provide anywhere near the same support for Black disabled or retired people. Plus, we can't afford the transitions costs of dumping Social Security for this sovereign wealth fund. It's not even clear how this thing gets funded "without raising taxes", like it's some notional accounts system that is worthless IRL.

Best to ignore this poster. I'm not a fan of cash reparations either, although I'd absolutely be for improving the Social Security system, improving public education, and national healthcare.[/quote]

Except social security doesn't help you in the NOW idiot.  You have to be retired.  A wealth fund can literally provide a guaranteed source of extra income every month.  Hilarious how badly you don't know anything about finances. [/quote]

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