Black People : The Black Tax - *Black Lives Still Don't Matter*

Fine1952

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The Black Tax: Why African Americans Must Work Harder to Build Wealth​

by Dana George | April 14, 2020

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There is no one-size-fits-all plan for building generational wealth. There are, however, a multitude of wealth-building ideas that may help to move your family towards financial stability in the long term. They include:

  • Setting up a business that could be passed down to the next generation.
  • Investing even a small amount rather than keeping everything in savings. In the long term, the fertile grounds of investment are more likely to produce bigger returns.
  • Teaching your children about personal finances by allowing them to work for their allowance and encouraging them to save part of what they earn each week.
  • Investing in enough life insurance to ensure the family's well being in the event of the breadwinner's death


 

Fine1952

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"Despite the economic strides many Black families have made since the civil rights era of the 1960s, the long legacy of slavery, Jim Crow, and racist federal housing policy, combined with ongoing discrimination in employment and lending, have effectively prevented many Black families from building wealth through homeownership, leaving them with a fraction of the wealth of White people."

Understanding and Solving the Black Student Debt Crisis in the Time of COVID-19 and Beyond​

Apr 16, 2020 by Victoria Jackson and Tiffany Jones

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Fine1952

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Black Families Pay Significantly Higher Property Taxes Than White Families

By Paul Caron

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"This assessment gap arises through two channels. First, property assessments are less sensitive to neighborhood attributes than market prices are. This generates racially correlated spatial variation in tax burden within jurisdiction. Second, appeals behavior and appeals outcomes differ by race. This results in higher assessment growth rates for minority residents. We propose an alternate approach for constructing assessments based on small-geography home price indexes, and show that this reduces inequality by at least 55–70%."

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Fine1952

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Since the game is political, what O'Shea Jackson (Ice Cube) should have done FIRST was establish a political platform based on a topic that would benefit ALL black people -- in this case, TAXES.

1. formed lobbyist groups
2. develped a financial funding base


This approach would have gotten the attention of the krakkas in the Senate! Responding to the trump and Biden was weak. Even Eye know the difference between the executive branch and the legislative branch:

Legislative Branch - MAKES THE LAWS
Executive Branch - Carries out laws thru federal agencies

EYE WOULD SAY 'MAKE' IS A MORE POWERFUL WORD THAN 'CARRY'!
 

Fine1952

The Age of Aquarius
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...4 months ago

New study finds systemic racism in property tax assessments: report​

BY J. Edward Moreno
07/02/20 01:34 PM EDT

"Black families pay 13 percent more in property taxes each year than white families in the same financial situation, a new study found."


 

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