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California reparations panel approves plan to pay at least $360,000 to each eligible person

Eligible California residents will receive a minimum of $360,000 under a plan approved by the Golden State’s reparations task force on Saturday, the New York Post reported.

“Wealth is sticky and can be transferred from generation to generation. Reparations can close that stickiness,” Gary Hoover, an economics professor at Tulane University who has studied reparations, told the New York Times.

“This is about closing the racial wealth and income gap in this country, and this is one step,” Hoover also said.

The plan approved by California’s reparations task force at its meeting Saturday includes a formal apology from the state and cash payments worth hundreds of billions of dollars to “enact remedies and compensation for the descendants of African Americans who were enslaved in the United States.” The Los Angeles Times reported.

The task force was created by Gov. Gavin Newsom (D-Calif.) in 2020. Its final recommendations will be presented to the California Legislature. Lawmakers, in turn, will decide whether and how the recommendations will be implemented. The recommendations would then become law if the governor signed them.

A preliminary estimate of the total cost by five economists consulted by the council is about $800 billion, not including compensation for “property the group says was wrongfully taken or for the devaluation of black-owned businesses,” it said. report Fox News Digital.

The $800 billion estimate exceeds the Golden State’s total annual budget of $300 billion by 266%.

“There is no way in the world that many of these recommendations will be achieved because of the inflationary impact,” said Roy L. Brooks, a professor and reparations scholar at the University of San Diego School of Law in the controversial meeting

Categories of community harms to be addressed by reparation payments include health disparities, mass incarceration and overpolicing, and housing discrimination.

The reparations would be limited to “descendants of enslaved or free black persons who were in the country in the late 1800s,” NPR reported.

“Reparations are not only morally justifiable, they have the potential to address longstanding racial disparities and inequalities,” Rep. Barbara Lee (D-Calif.) said at the meeting.

Lee and Sen. Cory Booker (DN.J.) are co-sponsors of a federal bill calling for the establishment of a “United States Commission on Truth, Racial Healing, and Transformation.” The commission would “ensure that reparations are central to the transformation of this country” and “confront and reject the big lie of white supremacy.”

Watch the May 6, 2023 meeting of the California Reparations Task Force in Oakland below.

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