https://www.dailymail.co.uk/news/article-12976909/jamal-bowman-reparations-14-trillion.html
The "party of science and economics" my ass.
We are so screwed as a country with these dumbasses being elected and voting on legislation to better us all. We are in hospice.
Quote:
New York congressman Jamal Bowman has defended his proposal to pay $14trillion in reparations to African Americans for slavery without raising taxes.
Bowman, a member of the so-called 'Squad' of young controversial Democrats in Congress, first introduced the bill, H.R. 414, in 2023.
It claims the US has 'a moral and legal obligation to provide reparations for the enslavement of Africans and its lasting harm on the lives of millions of Black people in the United States.'
Quote:
'Who says the $14 trillion needs to be paid out in one shot?' he told The Journal News.
He said the money would be divided between the 42million African Americans in the US - 12 percent of the population.
'It might be possible for it to be paid out over five or 10 or 20 years. You could take that $333,000 and break it up into monthly checks over X amount of time. There are creative ways to do the right thing and do what needs to be done.'
The $14 trillion sum would represent well over half the United States' entire economy.
The federal government spent about $7 trillion in 2020, about 28 percent of the nation's $25 trillion economy.
Bowman argued that the federal government could 'find' the cash - citing the response to the COVID pandemic as proof.
'When COVID was destroying us, we invested in the American people in a way that kept the economy afloat,' said Bowman.
'The government can invest the same way in reparations without raising taxes on anyone.'
The government added $3 trillion to the federal deficit, thanks to COVID. 'Where did the money come from?' Bowman said. 'We spent it into existence.'
Quote:
He even suggested that the sum be increased, saying it might have to be increased to $16 trillion to account for inflation that will occur before the bill finally passes.
'Let's say the investment of $16 trillion will yield $100 trillion on the back end,' Bowman said. 'It's just like when you invest in child care. Every dollar you invest in child care yields $14 on the back end.'
The "party of science and economics" my ass.
We are so screwed as a country with these dumbasses being elected and voting on legislation to better us all. We are in hospice.
