Reparations are long overdue for the U.S. Black population.
Wealth ensures justice — with wealth you can defend your rights.
Wealth buffers adversity
Wealth enhances one’s health
Wealth presents opportunities
Wealth crosses generations
Black Wealth creation requires reparations
Although some U.S. Caucasians do not believe they should pay for crimes from the “past” although everyone’s present wealth is based on this fact
Some would argue, why should the less wealthy individuals have to pay? It is less likely they have benefited from their ancestor’s owning slaves, or benefited from other white privilege actions, in acquiring wealth.
This reparations proposal intends to target funds from the group of citizens that have benefited the most – those having greater wealth.
The Reparations Fund Proposal:\
All Business or individual stock transactions, bond transactions, and Real Estate transactions will be subjected to a reparation transaction tax based on the entire transaction’s value. Additionally, for Corporate stock buybacks, the reparations transaction tax will be 20% of the value of the buy-back/repurchase amount. These reparations transaction taxes will be tax deductible for individuals with wealth lower than median per capita level set by the U.S. Government for the prior year. The reparation transaction tax rate will be set to ensure that, within 20 years from the start of reparations, the black reparations population’s per capita wealth is equal to the average per capita wealth of all U.S citizens.
These proceeds will go directly into a Reparations Fund for U.S. Black citizens that are decedents of slaves in America and 100% percent black (African continent) ancestry. For practical purposes, this will mean any black citizen that can demonstrate having one ancestor living in the U.S. since the end of WWII. That person will receive one (1) share in the Reparations Fund until their death.
Other black citizens will receive a ½ (0.5) share for 100% percent black (African continent) ancestry, and proportionally less for mixed race individuals greater or equal to 1/8 black ancestry.
The Reparations Fund shares will be distributed quarterly to all qualifying black citizens being at least 21 years of age. The fund will not cease to disperse funds until such time as the average per capita wealth of the Reparations Fund qualifying citizens is equal to the average per capita wealth of all U.S citizens. The wealth statistics will be based on U.S. citizen’s public/private holdings from the previous year. Individual wealth will include all assets foreign and domestic.
The IRS will collect and disperse the funds each quarter based on the net amount collected in the previous quarter. The Federal Government will manage the Reparations Fund applications by citizens, and their meeting the qualification criteria within 6 months of application submission.