Does Kamala Have a "Black Agenda"? (w/ William Darity)

Summary

In this in-depth discussion, the conversation revolves around the expectations and outcomes of Barack Obama's presidency in relation to the Black community. It delves into the critique of Obama's policies and the subsequent analysis of Kamala Harris's potential impact, focusing on economic policies and the racial wealth gap. The dialogue underscores the importance of substantive policies over representational politics and challenges the notion that a Black leader will inherently benefit the Black community. The conversation also addresses the misconceptions about wealth disparity and the need for direct, comprehensive measures to address the racial wealth gap effectively.

Takeaways

• 🗣️ The conversation revolves around critiques of Barack Obama's presidency and the expectations placed on black political figures, including Kamala Harris.
• 🤔 There's a noted skepticism about whether a black political leader will necessarily act in the interest of the black community, based on past experiences and statements from politicians like Kamala Harris.
• 🏠 A critique of Kamala Harris's proposed $225,000 mortgage supplement for first-time home buyers as an insufficient measure to address the racial wealth gap, considering the median home prices and existing wealth disparities.
• 💼 The importance of distinguishing between wealth and income is emphasized, with wealth being a more significant indicator of economic security and opportunity.
• 📉 The racial wealth gap has not narrowed significantly; instead, the absolute monetary difference between white and black household wealth has increased.
• 🌐 The widening wealth gap is attributed to the lack of resources that can be transmitted across generations by black families compared to white families.
• 🏦 The discussion points out that policies focusing solely on homeownership overlook other significant assets and do not address the needs of renters or existing homeowners.
• 📊 The ratio of white to black wealth can be misleading; a decrease in the ratio does not necessarily mean a reduction in the actual wealth gap.
• 💭 There's a call for a comprehensive national reparations plan as a direct approach to address the racial wealth gap, rather than indirect policies that may not be as effective.
• 🤝 The conversation concludes with the acknowledgment that neither major political party in the U.S. has a clear advantage in terms of delivering economic benefits specifically for black Americans.

Q & A

What was the main topic of the conversation between the host and the guest?

The main topic of the conversation was the critique of Barack Obama and the expectations of black representation in politics, including the economic policies of Kamala Harris.

Why did the guest reach out to the host after listening to an interview?

The guest reached out because they were interested in discussing the critiques of Obama and the expectations from black political figures, such as Kamala Harris, and what the black community has learned from these experiences.

What was the guest's opinion on the expectations from Barack Obama during his presidency?

The guest believed that expectations should have been low, as historical records from postcolonial African countries show that leaders who look like the majority of the population often do not act in their best interests.

How does the guest view Kamala Harris's statement about not being seen as doing something just for black people?

The guest sees Kamala Harris's statement as an indication that there is no reason to expect black political figures to be activists on behalf of the black community, even if they hold significant positions of authority.

What is the guest's stance on policies that directly benefit black families?

The guest believes that policies should not be designed exclusively for black families but should address the root causes of disparities. They argue that any policy benefiting black people will also benefit society as a whole.

What is the racial wealth gap, and why is it significant according to the guest?

The racial wealth gap refers to the difference in the amount of wealth that black and white Americans possess. It is significant because wealth is a better gauge of opportunity and economic security than income, and it affects the ability to weather financial storms, access quality education, and pass on resources to future generations.

How has the racial wealth gap changed between 2019 and 2022 according to the discussion?

While the ratio of white to black wealth slightly decreased, the actual monetary value of the gap increased, indicating a worsening scenario for black Americans economically.

What does the guest attribute as the main driver of the racial wealth gap?

The guest attributes the main driver of the racial wealth gap to the transmission of resources across generations, with black families having less to transfer compared to white families.

What is the guest's opinion on Kamala Harris's proposed $225,000 mortgage supplement for first-time homebuyers?

The guest criticizes the proposal for overemphasizing homeownership, not being substantial enough considering the median home price, and not addressing the wealth gap for those who are already homeowners or prefer to rent.

What policy does the guest suggest could meaningfully address the racial wealth gap?

The guest suggests a comprehensive national reparations plan that makes direct payments to black Americans whose ancestors were enslaved in the United States as a way to meaningfully address the racial wealth gap.

Outlines

00:00

🗣️ Discussing Critiques of Obama and Kamala Harris' Economic Policies

The speaker reflects on past critiques of Barack Obama, particularly around black representational politics and expectations from black leaders. They discuss Obama’s reluctance to focus exclusively on black issues and draw a parallel to Kamala Harris, who has similarly distanced herself from policies focused solely on benefiting African Americans. The speaker underscores that simply having a black leader doesn’t guarantee they will champion black causes, emphasizing the need to assess the substance of their policies over their identity.

05:01

🏠 Kamala Harris' Proposed Homeownership Policy and Its Limitations

The speaker critiques Kamala Harris’ proposed $25,000 mortgage supplement for first-time homebuyers, aiming to reduce the racial wealth gap. They argue that homeownership is often overstated as a tool for wealth building, particularly as wealthier individuals typically rely on diverse assets beyond home equity. The speaker highlights that Harris’ policy is limited in scope, insufficient given the high cost of homes, and neglects those who have previously owned homes or prefer renting.

10:04

💵 Distinguishing Income from Wealth and Its Importance

This section explains the critical distinction between wealth and income, emphasizing that wealth, as the net value of assets minus debts, is a better indicator of economic security. Wealth enables people to navigate financial crises, access better opportunities, and pass on resources to future generations. The speaker asserts that wealth disparities, especially between black and white households, are more telling of economic inequality than income disparities.

15:06

📊 Understanding the Racial Wealth Gap and Its Worsening Over Time

The speaker dives deeper into the racial wealth gap, noting that while the ratio of black to white wealth may appear to have slightly improved, the absolute monetary gap has actually widened significantly from 2019 to 2022. They explain the difference between measuring wealth by ratios versus actual monetary values, concluding that the wealth gap between black and white households has grown substantially in terms of dollar amounts, even if the ratio seems to have improved.

20:07

🎯 Addressing Systemic Wealth Inequality Beyond Political Rhetoric

The speaker argues that neither political party has significantly improved the economic conditions for black Americans. While Democrats, like Joe Biden, may present policies as beneficial for black communities, the speaker points out that the racial wealth gap has continued to worsen. They critique both parties for failing to address systemic wealth disparities in a meaningful way, suggesting that more direct approaches, such as reparations, are needed to tackle the issue effectively.

Keywords

💡Socratic conversations

Socratic conversations refer to a form of dialogue that follows the Socratic method, which is named after the Greek philosopher Socrates. This method involves asking and answering questions to stimulate critical thinking and to draw out ideas. In the context of the video, the host mentions that they initially didn't realize their audience had a high tolerance for such lengthy, in-depth discussions, which are characterized by a back-and-forth exchange of ideas, much like what Socrates used to do.

💡Expectations of Barack Obama

The 'expectations of Barack Obama' refers to the hopes and predictions that people had for the former U.S. president, particularly within the black community. The video discusses how these expectations were often too high and not met, as the mere fact that a leader shares a racial or ethnic background with a community does not guarantee they will act in that community's best interest.

💡Postcolonial countries

Postcolonial countries are nations that have emerged or achieved independence from colonial rule. The script mentions these countries to highlight a historical pattern where leaders who share the same racial or ethnic background as the majority population often fail to address systemic issues or disparities, instead focusing on personal gain.

💡Racial wealth Gap

The 'racial wealth Gap' is the economic disparity between different racial or ethnic groups, typically measured by comparing the average wealth of white households to that of black households. The video emphasizes the importance of addressing this gap, as it reflects deep-seated inequalities and affects opportunities and economic security across generations.

💡Wealth vs. Income

Wealth and income are two distinct economic measures. Wealth refers to the total value of one's assets minus liabilities, while income is the money received on a regular basis, typically from employment or investments. The video underscores the significance of wealth as a measure of economic security and opportunity, contrasting it with income, which can be more volatile and less indicative of long-term financial stability.

💡Housing subsidies

Housing subsidies are financial assistance provided to individuals or families to help them afford housing. The video script discusses the limitations of such subsidies in addressing the racial wealth Gap, suggesting that more direct and comprehensive measures are needed to bridge the economic disparity.

💡National reparations

National reparations refer to compensation provided by a government for historical injustices, such as slavery or colonialism. The video suggests that a comprehensive national reparations plan, which involves direct payments to eligible black Americans, could be an effective way to address the racial wealth Gap.

💡Economic security

Economic security is the state of being financially stable and secure, often due to having sufficient wealth or resources to weather financial hardships. The video discusses how wealth is a better indicator of economic security than income, as it provides a buffer against unexpected financial challenges.

💡Transfer of resources

The transfer of resources across generations refers to the passing down of wealth, property, or other assets from one generation to the next. The video script points out that the racial wealth Gap is perpetuated by the fact that black families have fewer resources to transfer compared to white families, which compounds the disparity over time.

💡Policies for black representation

Policies for black representation entail measures or initiatives aimed at improving the economic or social conditions of black communities. The video discusses the importance of focusing on policies that have a tangible impact on black families, rather than simply expecting benefits from leaders who share the same racial background.

Highlights

Discussion on initial reactions and critiques of Barack Obama from 2016, reflecting on the expectations and disillusionment within the Black community.

Examination of Kamala Harris's economic policies and lack of specific policy commitments, particularly regarding Black Americans.

Analysis of a proposed $225,000 mortgage supplement for first-time homebuyers and its perceived limitations in addressing the racial wealth gap.

Critique of the overemphasis on homeownership as a solution for wealth inequality, highlighting its limited impact compared to other forms of wealth.

Clarification of the concept of wealth versus income, stressing that wealth is a better measure of economic opportunity and security.

Overview of the racial wealth gap, noting its persistence and the compounded effects over time despite a narrowing wealth ratio between Black and white households.

Argument that the transmission of wealth across generations is the primary driver of the racial wealth gap, with historical disadvantages for Black Americans.

Critique of President Biden's statements on the racial wealth gap, highlighting a potential misrepresentation of progress.

Discussion on the lack of substantial policy differences between the Democratic and Republican parties in effectively addressing the economic challenges faced by Black Americans.

Reflection on the need for a comprehensive national reparations plan to close the racial wealth gap, rejecting indirect policies as insufficient.

Examination of Kamala Harris's statement on not targeting specific benefits exclusively to Black people, and the broader implications of such a stance.

Exploration of historical examples of Black leadership that did not necessarily benefit the wider Black community, drawing parallels to the present.

Acknowledgement of generational shifts in economic opportunities and the importance of focusing on policies that address systemic inequalities.

Emphasis on the importance of distinguishing between 'universal' policies and targeted reparations to address historical injustices.

Discussion on the role of misinformation in shaping public perceptions about political parties' effectiveness in addressing racial economic disparities.

Transcripts

this was part of your critique of Barack

Obama right so we were having this

conversation apart you reached out to me

after having listened to um one of my

favorite but a a challenging

conversation that might have been the

first time I interviewed um Norman

finlin on this program if I recall

correctly it was like a three-hour

conversation that we edited down a bit

we don't edit down stuff like that

anymore I think it was early on in the

podcast and I didn't realize the really

high tolerance this audience has for

very long uh kind of Socratic

conversations um but in that debate we

were going back and forth around um what

then was his new book that had these um

I think substantive criticisms of Obama

but I was caught on what I felt to be

some less substantive and maybe

distracting criticisms of Obama um and

we were going back and forth and he

reached out uh about that and surface

some of your own critiques of Obama from

back in 2016 and I thought it might be

interesting to have someone like

yourself back on to again weigh in on

what we might have learned as a black

community from our expectations of

Barack Obama and then looking forward to

KLA Harris and what you make very

specifically of the economic policies

that she's articulated to the extent

that she said much at all obviously

there's no policy on her website as of

now um and kind of what the Lessons

Learned are in terms of our expectations

of kind of black representational

politics yeah my expectations are are

are fairly

low uh and I think that as a community

uh Black Americans should have had

relatively low

expectations uh in 2008 uh I think

people have not paid any attention to

the issue of uh of of the uh the

historical record that's associated with

the postcolonial countries uh on the

African continent in which people who

look like the mass of the population

have leadership roles but actually don't

do anything but essentially line their

own pockets and so uh I didn't have any

significant expectations from uh Barack

Obama in part because I was aware that

the mere fact that somebody looks like

you doesn't necessarily mean they would

commit themselves to working on your

behalf but moreover Barack Obama was

pretty explicit in saying that he wasn't

going to do that and I think that

there's this uh widely circulated video

of Cala Harris saying something to the

effect of well I'm not going to be seen

doing something just for black people

and so um there there's absolutely no

reason to anticipate that just because

somebody is black they will be uh

activist on behalf of the black

community even if they are in major

positions of authority uh so the

question for me is is not uh you know

how somebody looks the question for me

is what's the substance of the program

that they want to

pursue I remember that interview it was

uh conducted I think by a classmate of

mine from college Natasha Natasha Alfred

and there's been an effort to sort of um

recontextualize that interview now thata

Harris is the chosen one which is is

pretty mind-blowing so by default it

affects black families but there's not a

particular policy for African-Americans

that you would explore

but no if you look at the the reality of

who will benefit from certain policies

when you take into account that they're

not starting at at the same place and

they're not stand they're not starting

on equal footing it will directly

benefit black children black families

black homeowners because the disparities

are so significant so if we focus on the

specific issues that have resulted in

the greatest

disparities and we understand that

that's part of why we're doing

listen the the reality also is this any

policy that will benefit black people

will benefit all Society let's be clear

about that let's really be clear about

that so I'm not going to sit here and

say I'm going to do something that's

only going to benefit black people no

cuz whatever benefits that black family

will benefit that community and society

as a whole and the country but I guess

maybe the question that I should ask

then I I'd really love to get into your

assessment as an economist of

one what you think kamla is prescribing

to the extent that she's offered much of

anything at all and since that's

probably uh kind of a shrug because we

don't know much about what she plans to

do what you would like to see from her

um both because it is

a kind of a morally Justified and

legally

Justified prior and because potentially

it might help her frankly elect

y improve her standing with black voters

a group I should should point out she

struggled with since the 2020 primary

yeah so um I think there is one program

that I'm aware of that she has has

floated which is a

$225,000 mortgage

supplement for firsttime home

buyers and she has suggested that this

would somehow have some significant

impact on on the racial wealth Gap uh

there's a number of problems there the

first is uh the over overstatement of

the significance of home ownership as a

component of individual's

portfolios uh you know if you start

talking about folks who are at the upper

end of the wealth distribution and I'm

not talking about a handful of people

the upper quarter of the wealth

distribution uh home equity is not as

significant ific for them is other kinds

of assets like Financial assets uh home

non-residential

properties uh business ownership their

retirement accounts and the like uh all

of those things uh are at least as

significant if not more so than home

ownership in terms of their their

portfolios and so uh I think there's a

romanticization of home ownership in

this country stems from the building of

the middle class

discriminatorily the middle point of the

20th century through the GI bill um but

um but if we're talking about closing

the wealth

Gap we're not talking about a focus

exclusively on the middle class among

whites we have to take into account the

wealthiest whites as well for really uh

addressing the the magnitude of the Gap

and so that's that's the first problem

that home ownership is not the whole

story second problem is uh a

$25,000 mortgage supplements not going

to take you very far if you're in a

country in which the median home price

is somewhere in the vicinity of 500 to

$550,000 uh third thing is if it's only

for firsttime home buyers then what are

we doing about the impact of the wealth

gap on individuals who are already

homeowners or who at some point in the

past were

homeowners it's a significant share of

the

population uh you know it's it's got to

be in the vicinity of 50% of black

Americans who have have owned a home at

some point uh but that leaves another

50% who would be eligible for the

program but it's not going to it's not

going to do a great deal

and then of course U it it it doesn't do

much of anything for uh folks who want

to uh want to be renters uh for whatever

reason

yeah and the reason is Millennial uh

commitment

issues uh as I as I raise my hand here

um is one of the other problems that it

was first advertised as a kind of cash

payment or you know an up front payment

and then it turned out to be a tax

credit so that you would have to have

the money for the home upfront anyway

which also seems to be another barrier

yeah yeah yeah yeah maybe as I'm

listening to you talk it occurs to me

that I'm coming to this sort of as

someone who was very much involved in

participating in the in the discourse

around these issues back in 2016 but

some listeners because they're younger

or just were not engaged back then might

not be as familiar with Concepts like

the racial wealth Gap or understand why

these sorts of things are important so

perhaps you could give people a sense of

what the Gap is maybe how it is grown or

shrunk since we were last discussing

these issues seriously as a country back

in 2016 or 2020 and why the easiest

question you've given me all

day this is squarely in my

wheelhouse so uh yeah I I have been uh

for quite a while now heavily engaged in

thinking about this thing that we call

the racial wealth Gap and I I think it's

important to distinguish wealth from

income first of all because I think

frequently people confuse the two uh so

so by income we are referring to a flow

of resources that people get within a

given amount of time usually a year that

stems primarily from their earnings from

their receipt of transfer payments from

the government

and from any interest that they uh acrew

off of the various assets that they

might hold and that's very different

from the concept of wealth which is a

stock measure of the net value of your

personal property the difference between

what you own and what you owe or the the

difference between the value of your

assets and the value of your debts and

as I mentioned earlier uh the the array

of assets could include non-residential

properties it could include homes it

could include retirement accounts it

could include a business that in

individual loans or it could include uh

uh Financial assets like stocks and

bonds and the like the debts the

categories of debts that are probably

most familiar to us might be your

mortgage payment or uh it could include

uh your credit card debts or it could

include student loan debts which have

been politically very significant in

recent conversations and so uh why do I

think wealth is important to look at

well primarily because I think wealth is

a much better gauge of your opportunity

and economic security than your your

annual income and and and that's in part

because of the fact that if you have an

income loss say due to uh joblessness or

due to a medical emergency if you have a

solid wealth position then you've got

the capacity to weather that

storm uh and similarly wealthier people

have the capacity to buy their way into

high amenity neighborhoods ensure that

their kids get quality

schooling uh they have the capacity to

cope with uh a criminal justice system

emergency uh in terms of getting quality

legal counsel in a way in which

individuals who don't have that same

type of wealth position are not able to

do so or even bail right even they can

meet a payment exactly uh and um and

then of course uh they can also leave

resources to their children and

grandchildren uh to give them a leg up

in terms of having a solid position

financially in in their lifetimes so so

wealth is a powerful instrument and so

when we start talking about the wealth

Gap we're talking about the difference

in the amount of wealth that black and

white Americans possess and that

difference is

staggering uh if you go back to

well you know I I think President Biden

has made this this this statement a

number of times that the wealth Gap is

at its lowest level in 20 years

I I don't know if you've heard him say

that I I have heard him say that I'm

interested to hear your thoughts on it

so it's correct if you measure wealth in

a particular way or if you measure the

Gap in a particular way so people

frequently want to think about the

ratio of black to white wealth as an

indicator of the magnitude of the

disparity and I would argue that that's

a useful indicator but if you're looking

at changes in the Gap over time it can

be very

misleading so if we were to take the

year

2019 the ratio of white to black wealth

was about

6.9 or

so and then we look at the year 2016 and

the ratio of white to black wealth has

declined slightly to about 6.5

so you

know there's there's you know people

could say well yeah the the the wealth

Gap has improved because uh there's a

narrower difference between white and

black wealth it's not a whole lot

narrower but it is it is

narrower well but the difficulty is that

while you get this decline in the white

to black ratio in in wealth you get

widening Gap in the monetary value of

the difference between white and black

wealth so what is that mean that the

extremes are more extreme even though

the so the the highest earners yeah go

ahead I'm sorry well no I'm I'm talking

about the average the the mean

difference okay uh and you you also will

have the same kind of effect if you just

look at the median which is the more

conservative measure that just focuses

on households in the middle of each of

each group's distribution but so help me

understand because math was not my

subject and I never took economics my

apologies so you're saying that what how

many translate what you're saying about

the

ratios you know showing demonstrating a

closing of the wealth Gap but

numerically yeah yeah so one one uh so

the measure in

2019 would have meant that

um The Average White household would

have had uh

$69 to every

$10 that a black household had in

wealth but in

2022 they would have had

$65 for every $10 in wealth held by a a

black a black

household okay okay that's that's the

ratio okay okay but you're saying that

black families actually don't have that

$10 it's actually they have less money

overall than they did back in no what

what I'm trying to say is that the

difference in the average value of

wealth between black and white

households actually got

larger between 2019 and 2022 when we

look at the actual dollar

values so what does that mean when we're

looking at the ratio we're taking the

average amount of wealth that a white

household has and dividing it by the

average amount of wealth that black

household has that's a different type of

calculation from

taking the from subtracting the amount

of wealth that a average black household

has from the amount of wealth that The

Average White household

has so when I start talking about

looking at the actual monetary value I'm

actually I'm telling you do a

subtraction exercise rather than do a

division

exercise and and here's here's why it

matters okay you do the subtraction

exercise the difference between black

and white wealth in 2019 was about

$841,000

even though the ratio then was higher

than it is in

2022 but in 2020 2 the difference

between black and white households in

terms of net worth on average was

$115

million so to what do you attribute that

policy-wise

or well

economic the driving factor with the

wealth Gap is the transmission of

resources across Generations you know

black folks don't have any to transfer

and white folks have a lot to transfer

that's the fundamental difference and so

if you're looking at the situation over

time there will be a tendency for this

difference in wealth to actually get

larger and larger the compound even if

the ratio doesn't get

larger okay yeah so you you're moving

from

$841,000 to $1.15 million and even if I

were to make an adjustment for

inflation that's a significant increase

in the Gap somewhere along the order of

16% yeah I mean that is pretty

incredible and I would I would say from

a political perspective I'm not putting

any words in your mouth that it is

incredible to me that you have a

president a white president who is

frankly trafficking in a certain kind of

misinformation and an effort to

distinguish himself policy-wise or kind

of value Wise from the Republican Nine

without actually addressing what you've

described as a worsening scenario

economically for black Americans not to

mention and things aren't going great

broadly well let let me let me be a

little bit precise about that a

worsening relative

scenario sure I mean sure but this is

the question right like who is best for

black am I mean that is what these you

know the gentlemen that we saw in that

super cut are kind of weighing in on and

I got to say that I mean like that is

not those gentlemen aren't particularly

sympathetic uh and they're rational it's

not at all clear uh that that one party

or the other is better for Black

America what is clear to me is there is

one party that is determined to

establish a condition in which they have

permanent rule in the United States

that's what that's what frighten me I I

think it's a perfectly Fair place to

kind of Center your own politics but I I

have to confess to you that there's many

people listening to this podcast who

feel very differently that feel like the

reason why you have someone like Donald

Trump who's in a position to wield that

sort of power is precisely because the

Democratic party which is supposed to be

the counterbalance has been derel in its

responsibilities to deliver for the

coalitions that have been historically

within its whe house so for the sake of

this conversation I'm very interested in

what you just said which is that even

from your perspective I mean that's a

pretty heavy thing to say but from your

perspective

as in my mind the foremost expert in the

racial wealth Gap disparity research e

disparity economics and all of that that

is not clear to you that either of our

major political parties is above the

other with respect to what it's able to

deliver economically or what they've

been able to deliver economically for

black Americans what they've been

willing to deliver willing to deliver

economically so from that lens looking

at all of those men there have been

other candidates who are not in the

position of running for president who

had programs that I would say had the

potential for being much more beneficial

to Black

America so I I want to I want to come

back to that and ask you specifically

you're talking about and what policies

you mean but just just to underscore

this point as much as it's easy to sort

of roll your eyes at the inaccuracy

stated by the men in the and Don Lemon

super cut the

fundamental belief that it's a tossup

between de Democrats and Republicans

with respect to the economic fate of

black Americans on that point they're

not necessarily wrong you're

saying yeah I think I think you know

I'll have to confess I I can't I can't

say that they're necessarily wrong on

that point and I I as I said that's the

reason why the door has been open yeah

to uh to misinformation if you will from

from uh from from the the Trump Camp

yeah and you know to your to to to the

point we've been making here also from

uh uh Joe Biden to the extent to which

he's kind of selling himself in the

Democratic party as having conferred all

this benefit to Black Americans or to at

least have rained while these benefits

acred when those benefits are kind of

numerical canery right so let I I want

to come back to what you know kind of

your

prescriptive um the prescriptive place

you're about to go to where you said

there are other people who have been

have run for office at different times

theyve run for president at different

times that did offer policies that would

have

meaningfully taken a bite out of the

racial wealth Gap what are those

policies and who are those people well I

I I think you you know that my answer is

going to be that um if we're going to

actually have a comprehensive assault on

the racial wealth Gap it's going to

require a program that is on the order

of a comprehensive National reparations

plan uh that there's no indirect policy

that I'm aware

of uh you know like giving people

housing subsidies that's going to close

the racial wealth

Gap uh it's very difficult to conceive

over construct what we might refer to as

a universal policy where we give

something to everybody that would

actually close the racial wealth Gap

there are some possibilities there but

nothing that I've seen anybody propose

uh fits fits that mold so my sense is

that if you want to really close the

racial wealth Gap you do it by making

direct payments to Black Americans who

who are eligible and from my perspective

the eligible population should be black

Americans whose ancestors were enslaved

in the United States uh so that's how

you do it just straightforward hey

YouTube thanks for watching just a

reminder that this is a podcast you can

catch an extra premium episode every

Monday for $5 a month at

patreon.com podcast that's

patreon.com podcast for $5 a month an

extra episode every week additionally

please do consider liking this video

subscribing to this channel it helps us

out it helps Independent Media beat the

algorithm we appreciate you and as

always keep the faith

[Music]