Comments by "Clint Holmes" (@clintholmes2061) on "Bernie Unveils Plan To Cancel ALL Student Loan Debt" video.
-
36
-
18
-
4
-
3
-
2
-
2
-
2
-
2
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
@wavegodrobsanders539 Regarding, "This could take the form of a direct race-specific initiative like a dramatic reparations program tied to compensation for the legacies of slavery and Jim Crow, and/or an initiative that addresses the perniciousness of wealth inequality for the entire American population, which could disproportionately benefit black Americans" AND/OR AN INITIATIVE THAT ADDRESSES THE PERNICIOUSNESS OF WEALTH INEQUALITY FOR THE ENTIRE AMERICAN POPULATION, WHICH COULD DISPROPORTIONATELY BENEFIT BLACK AMERICANS.
Examples of this might include taking trillions from wall street and reinvesting it into education, education that would be given disproportionately to blacks. And taking money from the richest of the rich to provide health care to public, a public where a lack of health insurance disproportionately affects blacks. And taking money from the richest of the rich and making sure they give their employees enough to live on, like raising the minimum wage with disproportionately affects blacks. And taxing the rich and corporations significantly more in general to pay for social programs. This is stuff I've already talked about. All of these things would help even if none of them is going to level the playing field perfectly in and of themselves.
Regarding, "According to this logic, we would expect blacks and whites with similar levels of education to display comparable levels of wealth." No, we wouldn't. The disparity of income earned between whites/blacks is a COMPLETELY independent problem. GIVING (as opposed to making them pay for outrageously expensive college education at the expense of the rich) college educations to blacks leaves them with more money in their pocket. A LOT MORE over the course of a lifetime. As for trying to make sure that it is the same as whites at the same education level is a completely different problem requiring completely different solutions. And even if we were able to magically make sure that blacks and whites all of a sudden overnight were to make the same at the same education levels that doesn't change the fact that more blacks aren't able to get that education to make that more money equal to whites. THEY WOULD STILL NEED TO BE EDUCATED AT THE SAME RATES TO GET THE SAME MONEY.
Look at the figure 1. Forget for a moment about the disparities between the races and just focus on how much more blacks with a college education make compared to blacks with only high school. It's a lot and it fucking matters to those blacks who have it.
Now, going back to the disparity between the races I absolutely agree that the disparity between the races at similar education levels is a crime. I'm open to ideas about addressing it. (and forgive me for repeating myself, I do that too much) But that is an independent problem altogether.
Regarding, "Black students are more likely to take on student loans and accumulate student loan debt" Unless we do something about it. And if we did it would help.
Regarding, "it could be argued, alternatively, that hard work can close the wealth gap." I'm not saying that, but I am saying raising the minimum wage would help.
Regarding, "Martin Luther King Jr. called for a ‘bank-in’ movement." And MLK was correct in that this would help. That is not the same to thinking it would magically solve all the problems. Things like these are ways to address the problem and attack it from different angles.
Let's imagine a world where hypothetically all cash wealth was overnight magically equalized in the form of reparations. Problem solved right? Wrong. Because that cash then gets put into the system, a system that still favors the powerful and those with the businesses. A system where blacks have less education. A system where the pay gap at equal educations is unbalanced. Jeff Bezos suddenly has no cash but people are still going to keep buying his shit at amazon. Solutions like the one MLK is proposing here is an effort to address one of the many, many, many problems out there. Is a comprehensive solution like the author think NIxon thought it was? Obviously not.
Regarding, "continued economic penalties forced upon black workers" This makes me think of Sanders and AOC's proposal to curb the interest rates of loan sharks and predatory lenders.
Regarding, "But the failure to bank black or buy black does not explain why we have a racial wealth gap of this magnitude" Of course not. There is so so so so so so so much more going on than just this. But if we ever we able to achieve "perfect equality" you would want this going on as opposed to spending your money at the walmarts and amazons of the world.
Regarding, #4 saving. Saving is good advice for everyone. That said it's not like I think blacks are just being dumb not saving money. I understand you can't save what you don't have. But let's say you have an education and are making more (even if it's not as much as whites at the same level) then you hopefully are able to be saving more. And passing that down. Because wealth does create wealth. It takes money to make money.
I'm writing this as I go and before I've read past the headline but the premise is bad because the notion of saving money works with all the other solutions. Of course it doesn't work in a vacuum all by itself. But if you are able to get your hands on money putting some of it away sure as fuck helps. Look at how the rich make so much of their money. They put it in the stock market and let it sit their while they cash in on dividends and don't pay taxes on it like those making their money with elbow grease.
Again... it's not a solution in and of itself but it's a good idea for those with the means. I'm guessing the article is just going to tell me that they don't have the means.
And now that I've read all of #4 I admit most of that went over my head. I was pretty lost there.
Regarding, #5 is dumb at face value. Never thought that or anything even remotely close to it. I'm skipping it.
Regarding #6 as usual they are conflating the solution offered with the problems of attaining the solution.
The mention zuckerburg and bezos because those guys were able to do what the "solution" proposes. So the "solution" is fine... it worked for the rich guys who had access to the "solution." So it isn't so much a problem with the solution as it is the playing field going in to use the "solution."
This is already crazy long and none of the other myths seem relevant to the things I've been saying. I'm also not going back and proofreading any of this so sorry for the typos.
1