How would reparations work?

[Asicz]

tax free status alone is a nice economic stimulus. anything we get we should go into that with a collective game plan personally I think the damage is around couple million cash a piece. this thing dont end with slavery there was decades of oppressing policy. obviously those who have 2 parents that descend from slaves should get the most

What is the avg annual dollar amount in increased income from this proposal?

Is this enough? Does this close the racial wealth gap?

 

[Nicole0416_718_929_646212]

I am not sure Reparations agenda or a even a black agemda s ready for primetime 2020. On the other hand shyt can catch fire REAL quick these days cuz the internet.

You get YvetteCarnell on the Breakfast Club and a couple rapper co signs

But for real I don't see Tone Talks and Carnell advancing a real reparations plan or even a solid black agenda until they get atleast 200k to 500 k subscribers.

A second reparations plan until she

I think it's necessary to have a plan in place, laid out before disseminating to the grassroots. Think the problem is now, with all the independent media sources, everybody is TALKING, and anyone can provide an opinion. But not everyone is in a position to implement. We need people in specialized positions that have the knowledge to come up with a workable plan and solutions without the need for a wide audience. We need black researchers, analysts, economics, legal scholars to devise a system and then use the platforms to communicate to the people. People will understand a class action lawsuit but if you set a 100 page legal brief, motion after motion, or position paper that describes how to enact policies, it makes people feel overwhelmed. You should have two separate divisions - those working behind the scenes and those that are getting the word out to garner support. The conflict comes when responsibilities overlap and everybody has their hand in the same pot. There's no checks and balances or oversight; or like it is now with certain segments that have competing interests. Leading to more of the same and nothing gets done. You do need to people to say - here's the problems, here's where the accountability needs to be, here's why this won't work or will work. But the defeatist attitude as a whole, has to go.

 

[ELESDEE616]

Nah sis your posts were way deeper than mine. I was reading your shyt like then this little worm comes along claiming forced CONCENTRATION camps was the government granting free real estate. as if project housing where we are herded together like animals is the same as a white person being able to own their own home and acres of land.


Keep preaching though ik reading with interest.

 

[Roland Coltrane]

source for these amounts?

 

[8WON6]

all I know is I want cash, so that I can decide what I do with my money. I don't want no vouchers or coupons. They give black people housing vouchers, them houses gone be built out of rice.

 

[Roland Coltrane]

If we started by suing those companies and industries, for example- the cotton and textile industry: Great Britain, Mississippi, New York historically. The cotton trade in the South is estimated at 200 billion. That's what we're entitled to.

in 1860, the value of the slaves was “roughly three times greater than the total amount invested in banks,” and it was “equal to about seven times the total value of all currency in circulation in the country, three times the value of the entire livestock population, twelve times the value of the entire U.S. cotton crop and forty-eight times the total expenditure of the federal government that year.”

Now, the value of cotton: Slave-produced cotton “brought commercial ascendancy to New York City, was the driving force for territorial expansion in the Old Southwest and fostered trade between Europe and the United States,” according to Gene Dattel. In fact, cotton productivity, no doubt due to the sharecropping system that replaced slavery, remained central to the American economy for a very long time: “Cotton was the leading American export from 1803 to 1937.”

By 1860, New York had become the capital of the South because of its dominant role in the cotton trade. New York rose to its preeminent position as the commercial and financial center of America because of cotton. It has been estimated that New York received forty percent of all cotton revenues since the city supplied insurance, shipping, and financing services and New York merchants sold goods to Southern planters.

Cotton in a Global Economy: Mississippi (1800-1860) | Mississippi History Now
The Role Cotton Played in the 1800s Economy | African American History Blog | The African Americans: Many Rivers to Cross

also if this hasn't been included yet don't forget that many if not most of these large US banking and insurance conglomerates got their start in chattel slavery of our ancestors
a lot of other industries were involved too, probably too many to name

15 Major Corporations You Never Knew Profited from Slavery
By
ABS Contributor
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August 26, 2013
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The enslavement of African people in the Americas by the nations and peoples of Western Europe, created the economic engine that funded modern capitalism. Therefore it comes as no surprise that most of the major corporations that were founded by Western European and American merchants prior to roughly 100 years ago, benefited directly from slavery.





Lehman Brothers, whose business empire started in the slave trade, recently admitted their part in the business of slavery.

According to the Sun Times, the now-defunct financial services firm acknowledged that its founding partners owned not one, but several enslaved Africans during the Civil War era and that, “in all likelihood,” it “profited significantly” from slavery.

“This is a sad part of our heritage …We’re deeply apologetic … It was a terrible thing … There’s no one sitting in the United States in the year 2005, hopefully, who would ever, in a million years, defend the practice,” said Joe Polizzotto, general counsel of Lehman Brothers.



Aetna, Inc., the United States’ largest health insurer, apologized for selling policies in the 1850s that reimbursed slave owners for financial losses when the enslaved Africans they owned died.

“Aetna has long acknowledged that for several years shortly after its founding in 1853 that the company may have insured the lives of slaves,” said Aetna spokesman Fred Laberge in 2002. “We express our deep regret over any participation at all in this deplorable practice.”



JPMorgan Chase admitted their company’s links to slavery.

“Today, we are reporting that this research found that, between 1831 and 1865, two of our predecessor banks — Citizens Bank and Canal Bank in Louisiana — accepted approximately 13,000 enslaved individuals as collateral on loans and took ownership of approximately 1,250 of them when the plantation owners defaulted on the loans,” the company wrote in a statement.



New York Life Insurance Company is the largest mutual life insurance company in the United States. They also took part in slavery by selling insurance policies on enslaved Africans.

According to USA Today, evidence of 10 more New York Life slave policies comes from an 1847 account book kept by the company’s Natchez, Miss., agent, W.A. Britton. The book, part of a collection at Louisiana State University, contains Britton’s notes on slave policies he wrote for amounts ranging from $375 to $600. A 1906 history of New York Life says 339 of the company’s first 1,000 policies were written on the lives of slaves.



USA Today reported that Wachovia Corporation (now owned by Wells Fargo) has apologized for its ties to slavery after disclosing that two of its historical predecessors owned enslaved Africans and accepted them as payment.

“On behalf of Wachovia Corporation, I apologize to all Americans, and especially to African-Americans and people of African descent,” said Ken Thompson, Wachovia chairman and chief executive officer, in the statement. “We are deeply saddened by these findings.”



N M Rothschild & Sons Bank in London was linked to slavery. The company that was one of the biggest names in the City of London had previously undisclosed links to slavery in the British colonies. Documents seen by the Financial Times have revealed that Nathan Mayer Rothschild, the banking family’s 19th-century patriarch, made personal gains by using enslaved Africans as collateral in dealings with a slave owner.



Norfolk Southern also has a history in the slave trade. The Mobile & Girard company, which is now part of Norfolk Southern, offered slaveholders $180 ($3,379 today) apiece for enslaved Africans they would rent to the railroad for one year, according to the records. The Central of Georgia, another company aligned with Norfolk Southern line today, valued its slaves at $31,303 ($663,033 today) on record.



USA Today has found that their own parent company, E.W. Scripps and Gannett, has had links to the slave trade.



According to reports, FleetBoston evolved from an earlier financial institution, Providence Bank, founded by a John Brown, who was a slave trader and owned ships used to transport enslaved Africans.

The bank financed Brown’s slave voyages and profited from them. Brown even reportedly helped charter what became Brown University.



CSX used slave labor to construct portions of some U.S. rail lines under the political and legal system that was in place more than a century ago.

Two enslaved Africans whom the company rented were identified as John Henry and Reuben. The record states, “they were to be returned clothed when they arrived to work for the company.”

Individual enslaved Africans cost up to $200 — the equivalent of $3,800 today — to rent for a season and CSX took full advantage.



The Canadian National Railway Company is a Canadian Class I railway headquartered in Montreal, Quebec that serves Canada and the Midwestern and Southern United States. The company also has a history in which it benefited from slavery. The Mobile & Ohio, now part of Canadian National, valued their slaves lost to the war and emancipation at $199,691 on record. That amount is currently worth $2.2 million.



Brown Brothers Harriman is the oldest and largest private investment bank and securities firm in the United States, founded in 1818. USA Todayfound that the New York merchant bank of James and William Brown, currently known as Brown Bros. Harriman owned hundreds of enslaved Africans and financed the cotton economy by lending millions to southern planters, merchants and cotton brokers.



Brooks Brothers, the high-end suit retailer, got their start selling slave clothing to various slave traders back in the 1800s. What a way to get rich in the immoral slave industry!



Barclays, the British multinational banking and financial services company headquartered in London has now conceded that companies it bought over the years may have been involved in the slave trade.


USA Today reported that New York-based AIG completed the purchase of American General Financial Group, a Houston-based insurer that owns U.S. Life Insurance Company. A U.S. Life policy on an enslaved African living in Kentucky was reprinted in a 1935 article about slave insurance in The American Conservationistmagazine.

AIG says it has “found documentation indicating” U.S. Life insured enslaved Africans.

 

[Roland Coltrane]

Too often I think people make the mistake of saying "We built this country"-- Nah... If you ask me, what we built was this country's ability to participate in the global economy. Cotton alone was the leading export for more than half of American history.

The question is, what could be provided that would ensure that we have our OWN stake in the global economy? I honestly don't know, but that's the kinda reparations I'd be interested in.

capitalism ITSELF doesn't exist without chattel slavery

I highly recommend this book

 

[ThatTruth777]

all I know is I want cash, so that I can decide what I do with my money. I don't want no vouchers or coupons. They give black people housing vouchers, them houses gone be built out of rice.

I want black people to be able to get high paying jobs from black people.

 

[Roland Coltrane]

Tempted to make a reparations information thread with links and info from the leading experts/ economist on the subject.

do it breh

 

[Nicole0416_718_929_646212]

also if this hasn't been included yet don't forget that many if not most of these large US banking and insurance conglomerates got their start in chattel slavery of our ancestors

YES!! You're right. That whole list and more. Reparation and Restitution.
There are a number of cases on the records of banks and conglomerates being sued for unlawfully obtaining proceeds. I think the first class action lawsuit in the was JP Morgan and Chase Manhattan (yeah, just looked it up back in 1998). Replace World War II with years of slavery and AA dos, see how it applies:
"The bank said that it was ''recently made aware of questions of propriety'' concerning its actions in World War II and ''began a vigorous examination of the historical records'' and started consulting with Jewish organizations... ''Chase immediately said it would pay these customers or heirs with interest,'' the bank said, adding it was disappointed that the suit had been filed but would continue to work with the congress to speed payment to those found to warrant it.

The suit was the latest in a series in the last two years that have leveled similar charges against banks of other nations. In August, Credit Suisse and UBS settled, agreeing to pay $1.25 billion in restitution"
Chase and Morgan Sued Over Jewish Assets

 

[Nicole0416_718_929_646212]

also if this hasn't been included yet don't forget that many if not most of these large US banking and insurance conglomerates got their start in chattel slavery of our ancestors
a lot of other industries were involved too, probably too many to name

and see they admit to all this, it's on record. smh. The problem is them not being responsible for damages or any monetary consequences.

 

[Nicole0416_718_929_646212]

facts. you see that too?

 

[Nicole0416_718_929_646212]

capitalism ITSELF doesn't exist without chattel slavery

I highly recommend this book

Rep when I can again.

 

[Nicole0416_718_929_646212]

Nah sis your posts were way deeper than mine. I was reading your shyt like then this little worm comes along claiming forced CONCENTRATION camps was the government granting free real estate. as if project housing where we are herded together like animals is the same as a white person being able to own their own home and acres of land.


Keep preaching though ik reading with interest.

good breakdown and points on that issue tho. Rep for you when the system lets me again

 

[Nicole0416_718_929_646212]

What about $1 million each

good thread. I owe you a Rep