The Reparations Committee in San Francisco is planning to bankrupt the city and I could care less. Their plan is threefold. They want to award certain Blacks with a reparation check for five million each, total debt forgiveness, and the supplementing of incomes to a total of $97,000 a year for the next 250 years.
The checks will be paid out in one lump sum. Assuming there are 10,000 qualified recipients in San Francisco, the lump sum checks would cost $50 billion dollars. Their annual budget is slightly less than $7 billion a year.
The debt forgiveness part of the plan has not been explained. Who is supposed to do the forgiving? The ones holding the debt or the city.
Common sense would tell you that the ones holding the debt should not be the ones to forgo getting paid, but this is San Francisco, so common sense does not apply. But, why do they need to have their debt forgiven if they are to receive a check for five million?
The draft says:
“Racial disparities across all metrics have led to a significant racial wealth gap in the City of San Francisco. By elevating income to match AMI, Black people can better afford housing and achieve a better quality of life.”
Fox News reported:
San Francisco’s reparations committee has proposed paying each Black longtime resident $5 million and granting total debt forgiveness due to the decades of “systematic repression” faced by the local Black community.
The San Francisco African American Reparations Advisory Committee, which advises the city on developing a plan for reparations for Black residents, released its draft report last month to address reparations – not for slavery, since California was not technically a slave state, but “to address the public policies explicitly created to subjugate Black people in San Francisco by upholding and expanding the intent and legacy of chattel slavery.”
To be eligible for the program, the applicant must be 18 years old and have identified as Black or African American on public documents for at least 10 years. They must also prove at least two of eight additional criteria, choosing from a list that includes, “Born in San Francisco between 1940 and 1996 and has proof of residency in San Francisco for at least 13 years,” and/or, “Personally, or the direct descendant of someone, incarcerated by the failed War on Drugs.”
The plan also calls on the city to supplement lower-income recipients’ income to reflect the Area Median Income (AMI), about $97,000, annually for at least 250 years.
“Racial disparities across all metrics have led to a significant racial wealth gap in the City of San Francisco,” it argues. “By elevating income to match AMI, Black people can better afford housing and achieve a better quality of life.”
California Governor Gavin Newsom also has a reparations committee recommending a huge transfer of wealth to blacks in the state.
Governor Gavin Newsom’s reparations committee will recommend $223,000 per person who is a descendant of slaves.
There are approximately 2.5 million blacks in California.
The total cost for this massive transfer of wealth to people who were never slaves – from a group of people who never owned slaves = $559 BILLION!
The reparations committee is focusing on so-called ‘housing discrimination’ that impacted blacks between 1933 and 1977.
