Chef Jim Posted July 15, 2021 Posted July 15, 2021 1 minute ago, SoCal Deek said: To be fair Chef this is a topic on SYSTEMIC setbacks. There’s nothing inherent in the ‘system’ that establishes generational wealth for anyone of any color. That inheritance comes from the savings, spending and planning habits of your parents and possibly your grandparents. Was there systemic setbacks at some point that black people had to deal with that whites did not? It's not that the system gave us generational wealth. It put blacks behind in that ability to establish generational wealth.
SoCal Deek Posted July 15, 2021 Posted July 15, 2021 7 minutes ago, Motorin' said: What dollar figure did the American economy reap from the unpaid wages of African American slavery? Bottom line dollar figure. On a somewhat related note, last month Germany offered to pay 1.2 billion in reparations to Namibia for genocide during German colonia rule. https://www.reuters.com/world/africa/germany-colonial-era-genocide-reparations-offer-not-enough-namibia-vice-2021-06-04/ And there it is! We’re finally getting around to it. What’s all of this about? It’s about MONEY! (Just like I’ve been saying on here since the CRT threads first surfaced.) 1
Motorin' Posted July 15, 2021 Posted July 15, 2021 (edited) 11 minutes ago, SoCal Deek said: To be fair Chef this is a topic on SYSTEMIC setbacks. There’s nothing inherent in the ‘system’ that establishes generational wealth for anyone of any color. That inheritance comes from the savings, spending and planning habits of your parents and possibly your grandparents. Except black Americans were excluded from wonderful low interest federally backed mortgage programs that gave birth to the American middle class. Working and middle class white Americans were able to accumulate over 1 Trillion dollars in equity from the programs that black people were excluded from. On top of that, working and middle class black Americans were prayed on by horribly unethical loan practices that were vicious in their ability to foreclose and take all equity. Edited July 15, 2021 by Motorin'
SoCal Deek Posted July 15, 2021 Posted July 15, 2021 3 minutes ago, Chef Jim said: Was there systemic setbacks at some point that black people had to deal with that whites did not? It's not that the system gave us generational wealth. It put blacks behind in that ability to establish generational wealth. Chef….I’m not an idiot. The point is that very very few people of any color inherit much of anything from their parents. Very few. 2
Motorin' Posted July 15, 2021 Posted July 15, 2021 4 minutes ago, Over 29 years of fanhood said: Good question.. also, brits apparently also brought 300,000 white slaves to America during colonial times. So same question there I suppose. No one anywhere can justify indentured servitude. But it wasn't illegal for white indentured servants to learn how to read. They had to work or buy their way out of servitude, and their children and grandchildren weren't born into slavery and with education outlawed.
Over 29 years of fanhood Posted July 15, 2021 Posted July 15, 2021 1 minute ago, SoCal Deek said: Chef….I’m not an idiot. The point is that very very few people of any color inherit much of anything from their parents. Very few. I tend to agree and suspect the average inheritance numbers are badly skewed by a small fraction of the super wealthy. But if inheritance is the source of inequity I’d be open to tax and redistribute that… the world could use less hunter Biden’s and Donnie trump jrs running around. Being born to rich parents certainly is an inequality.
SoCal Deek Posted July 15, 2021 Posted July 15, 2021 8 minutes ago, Motorin' said: Except black Americans were excluded from wonderful low interest federally backed mortgage programs that gave birth to the American middle class. Working and middle class white Americans were able to accumulate over 1 Trillion dollars in equity from the programs that black people were excluded from. On top of that, working and middle class black Americans were prayed on by horribly unethical loan practices were vicious. Ha! The Democrats just proposed spending $4.5 TRILLION in one single spending bill. Using your math there won’t be a single POC living in poverty by Christmas time. Problem solved.
Frat-Train Posted July 15, 2021 Posted July 15, 2021 (edited) 7 minutes ago, Motorin' said: No one anywhere can justify indentured servitude. But it wasn't illegal for white indentured servants to learn how to read. They had to work or buy their way out of servitude, and their children and grandchildren weren't born into slavery and with education outlawed. It was quite illegal to do many things before we fought for independence from the British. If history has taught us anything, it’s freedom is not freely given by those who possess power. Every nation has taken part in slavery and racism/ genocide. America not only fought to end it, but abolished it faster than any other nation in history. So imagine if you can, the humor in burning, hating or turning from a flag that stands for overcoming oppression both foreign and domestic. Do you know what CRT says about the US flag? I do. Edited July 15, 2021 by Frat-Train
SoCal Deek Posted July 15, 2021 Posted July 15, 2021 1 minute ago, Over 29 years of fanhood said: I tend to agree and suspect the average inheritance numbers are badly skewed by a small fraction of the super wealthy. But if inheritance is the source of inequity I’d be open to tax and redistribute that… the world could use less hunter Biden’s and Donnie trump jrs running around. Being born to rich parents certainly is an inequality. We already do that. It’s called the Estate Tax. Problem solved. Next
Over 29 years of fanhood Posted July 15, 2021 Posted July 15, 2021 5 minutes ago, SoCal Deek said: We already do that. It’s called the Estate Tax. Problem solved. Next It only generates like 40 billion dollars because it over $11 million joint estates or so and a lower rate. Lower the thresholds and add minor appropriate exemptions. Everyone has to earn their own way. I’m good. 1
Chef Jim Posted July 15, 2021 Posted July 15, 2021 19 minutes ago, SoCal Deek said: Chef….I’m not an idiot. The point is that very very few people of any color inherit much of anything from their parents. Very few. Seriously? Maybe I should remind you what I do for a living. I help people (mostly white) all the time who have inheritances from their family. Your dad owns a beat up Honda. Does he own a home? Remember whites have been able to own homes here in the US for a few hundred years. Blacks have not had that kind of history. My point is that excuse should be and has been fading over time. 15 minutes ago, SoCal Deek said: We already do that. It’s called the Estate Tax. Problem solved. Next What are the current estate tax exclusions? 7 minutes ago, Over 29 years of fanhood said: It only generates like 40 billion dollars because it over $11 million joint estates or so and a lower rate. Lower the thresholds and add minor appropriate exemptions. Everyone has to earn their own way. I’m good. I would rather see them eliminate the step up in basis. That only affects people who sell what they inherit. The estate tax taxes assets sold or not and often times those assets are VERY illiquid. My fear is they will ***** with both which will be a mess. (Sorry Irv)
Over 29 years of fanhood Posted July 15, 2021 Posted July 15, 2021 4 minutes ago, Chef Jim said: Seriously? Maybe I should remind you what I do for a living. I help people (mostly white) all the time who have inheritances from their family. Your dad owns a beat up Honda. Does he own a home? Remember whites have been able to own homes here in the US for a few hundred years. Blacks have not had that kind of history. My point is that excuse should be and has been fading over time. What are the current estate tax exclusions? I would rather see them eliminate the step up in basis. That only affects people who sell what they inherit. The estate tax taxes assets sold or not and often times those assets are VERY illiquid. My fear is they will ***** with both which will be a mess. (Sorry Irv) Matter of factly that would make sense, but I guess since both parties are themselves or are in cahoots with the richest, the super wealthy will codify loopholes making any attempted fix impotent.
SoCal Deek Posted July 15, 2021 Posted July 15, 2021 11 minutes ago, Chef Jim said: Seriously? Maybe I should remind you what I do for a living. I help people (mostly white) all the time who have inheritances from their family. Your dad owns a beat up Honda. Does he own a home? Remember whites have been able to own homes here in the US for a few hundred years. Blacks have not had that kind of history. My point is that excuse should be and has been fading over time. What are the current estate tax exclusions? I would rather see them eliminate the step up in basis. That only affects people who sell what they inherit. The estate tax taxes assets sold or not and often times those assets are VERY illiquid. My fear is they will ***** with both which will be a mess. (Sorry Irv) Chef...no need to remind me, you tell us all the time. This Board really needs to lighten up. With that said, if you want to promote even higher levels of redistribution than we currently have, you're free to promote it. Knock yourself out! But I'm also free to say "this has gone far enough". When I 'invest' very close to half of everything I earn to the good of the collective, then I think I've provided more than my 'fair share'.
Chef Jim Posted July 15, 2021 Posted July 15, 2021 1 minute ago, SoCal Deek said: Chef...no need to remind me, you tell us all the time. This Board really needs to lighten up. With that said, if you want to promote even higher levels of redistribution than we currently have, you're free to promote it. Knock yourself out! But I'm also free to say "this has gone far enough". When I 'invest' very close to half of everything I earn to the good of the collective, then I think I've provided more than my 'fair share'. Then I am more qualified that you (whatever it is you do) to know how much wealth gets passed down from generation to generation aren't I? And lighten up? I'm not sure what you mean by that. Are your comments not to be taken seriously? I'm sorry I think I missed that. Please point out where I have ever advocated for more redistribution of wealth? And if you think your tax dollars are being redistributed to those in need more so that to those in power and their friends you've got your head buried. 1
Over 29 years of fanhood Posted July 15, 2021 Posted July 15, 2021 9 minutes ago, Chef Jim said: Then I am more qualified that you (whatever it is you do) to know how much wealth gets passed down from generation to generation aren't I? And lighten up? I'm not sure what you mean by that. Are your comments not to be taken seriously? I'm sorry I think I missed that. Please point out where I have ever advocated for more redistribution of wealth? And if you think your tax dollars are being redistributed to those in need more so that to those in power and their friends you've got your head buried. This x10000. Washington is full of life long rich politicians and cronies 1
SoCal Deek Posted July 15, 2021 Posted July 15, 2021 16 minutes ago, Chef Jim said: Then I am more qualified that you (whatever it is you do) to know how much wealth gets passed down from generation to generation aren't I? And lighten up? I'm not sure what you mean by that. Are your comments not to be taken seriously? I'm sorry I think I missed that. Please point out where I have ever advocated for more redistribution of wealth? And if you think your tax dollars are being redistributed to those in need more so that to those in power and their friends you've got your head buried. I never said anything about who they were being redistributed to. I'm done now. You clearly have this all under control. 😉
Chef Jim Posted July 15, 2021 Posted July 15, 2021 10 minutes ago, SoCal Deek said: I never said anything about who they were being redistributed to. I'm done now. You clearly have this all under control. 😉 I do have it under control. Now on to the who's chili is better conversation. PS. I'll win that one too.
SoCal Deek Posted July 15, 2021 Posted July 15, 2021 1 hour ago, Chef Jim said: I do have it under control. Now on to the who's chili is better conversation. PS. I'll win that one too. Beans or no beans?
Doc Posted July 15, 2021 Posted July 15, 2021 3 hours ago, Over 29 years of fanhood said: I definitely never heard that last one in history class, in fact I’ve never heard it anywhere. Where was this? https://www.snopes.com/fact-check/facts-about-slavery/ (midway down page) I had never heard it anywhere either.
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