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San Francisco proposes $5 Million for every Black resident or $1 Homes
Mar 28, 2023
#reparations #sanfrancisco #blackexcellence There is a controversial proposal out in San Francisco for reparations. What are your thoughts on the proposed options? Brotherly Banter is a show where brothers, often on opposite sides of the thought spectrum, discuss various hot topics in the Black community. Subscribe to our channel so you don't miss any future videos! Check out the books we love and recommend in our Black Excellence Book Club: https://www.blackexcellence.com/store/ Some links are affiliate links, which means we earn a very tiny commission if you make a purchase. __________________________________________________________ BlackExcellence.com is a digital platform dedicated to empowering excellence everyday through sharing thought provoking, informative, entertaining, and noteworthy stories in the Black community. All content provided by Black Excellence Media, LLC is for entertainment purposes only. None of the information or advice provided is to replace professional advice. Website: https://blackexcellence.com
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So San Francisco, there is a proposal out, reparations for San Francisco black residents
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The AP story reads payments of five million to every eligible black adult, the elimination of personal debt and tax burdens, guaranteed annual incomes of at least $97,000 for 250 years and homes in San Francisco for just a dollar a family
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These are some things that were proposed by the reparation committee. so what do you guys think of this and which one of these wait how long do you get 97 how long do
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you get 97 000 i say it's 250 years 97 000 a year does it go up with inflation
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good question that might be in the details what is it okay okay oh god i have a problem here
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the first thing i'm gonna ask and maybe we don't have this answer today
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what is an eligible black adult mean that is gonna be a very very tough thing to determine because they're looking at not just
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you living in San Francisco right now, you would have to have lived in that city
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during times where racial discrimination pretty much was policy of the city
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So it's not all about just current Black residents because San Francisco has lost a lot of Black residents
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over the years. It went from, I believe, about 15% of the population
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being Black to less than 5% now. is that what you're saying aj or you're you're saying what qualifies like do you have to be 18
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years old yeah what what yeah i want all i'm even understanding the qualifications of an eligible
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what is it like eligible black adult they haven't would it matter to you because we all know where
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you're going with this we all know where am i please do you want do you agree do you think
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anybody should get it no this is a crock of shit but i need to i need to understand
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why because there's so many problems with this okay i need you guys okay clearly you guys are
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for this tell me why you think this is a good idea reparations in general or the five million
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this specific uh plan that they're trying to roll out and get approved i just i would have to look
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i would have to look i would have to look at the details again but they're not giving people cash
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right they're giving people access to housing they're giving people access to things that we've
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gone without no this one is specific elimination of personal debt so you're trying to tell me
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that we're going to pick eligible people. I don't care if they're black, white
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whatever. You're going to pick somebody that you deem eligible and you're going to wipe their debt and whatever tax burdens
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they put on themselves. Your debt and your tax burden have nothing to do with reparations. I'm sorry
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I can't get behind that. Why do they have nothing to do
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with it? If you have debt, how do you get debt And how do you get tax burdens? Let's just say school debt. Right
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You didn't have access. Your parents could not pay for you to go to school. OK. Most black people don't have parents that could afford to pay for them to go to college because blacks are behind in almost every statistic
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Home ownership. And so giving them a home for a dollar, that's going to fix the problem
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I think that's one of the best measures on there, actually. you're going to give people homes in one of the most expensive cities in the world
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for free and then expect them to pay yearly taxes on them do you agree with any forms of reparations
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aj i think if we're going to give reparations i think in all honesty is to the best way giving
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everybody a free chance at education to learn and understand how to manage and move forward so free
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college? Sure, if you want to go. But the problem is people don't want to take the time to learn
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They want it to be handed to them because of the situation that they're in. I'm not going to hand it to you
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We have to get black people in homes. That is the number
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one biggest thing. Everybody understands property is the biggest generational wealth building tool
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Why do you think having a home is the answer Because that the biggest generational wealth building tool there is Something that has compounded for them Like they were they white people great grandparents were able to buy a house that has allowed them to build generational wealth that they have been able to move from one generation to the next
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Just been compounding wealth. Can you imagine if you were able to buy a house in Los Angeles in 19, whatever, 30
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what would that be worth today? San Francisco NAACP chapter came out and
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rejected this proposal. They said the best thing to do would be to educate
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black kids and offer jobs to black people instead of handing out
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cash. Do you guys agree with that? A thousand percent. You cannot hand out cash
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You cannot hand out cash. Because they're just going to spend it. Let's educate
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people and give them opportunities that way. I don't think we should hand them jobs either
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but that's a whole different thing. But on the other hand, there have been other
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groups of people who have had reparations and cash was handed out to them. So are we going to say
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Black people don't deserve cash when other groups of people have deserved cash as if
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Black people would not know how to act with cash? Recently during COVID, here's the prime example
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money was given out to certain people that qualified right what did people do with that money
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yeah but you're only looking at the people that you drove through McDonald's
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and saw a Gucci belt on like there's other people there's other people
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that use that money for good it depends a lot of people paid off their debt
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with it, credit card debt if we could take a real poll
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I wish we could. There has to be a way. More people
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spent that money on things, on items versus their future. How many people enrolled in a
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program where they can learn about money management? But shouldn't Black people be able to decide these things
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for themselves? I mean, sure. Then give them money and watch what happens. We need to teach people
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To your point, AJ, if you eradicate people's debt, aren't you just going to get back in debt next month
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Probably. Yes, because you did not learn how to manage. No. So what my suggestion is, my suggestion is, is everybody has to take a you have to go through four years of education
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okay we're going to give you four years of education around business business money management
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all types of stuff that have to do with money once you pass that course meaning you take tests
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you take quiz you do all the stuff that comes with that you pass i wipe your debt there's gonna be a
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lot of objections to that because now you're making black people work for money they're owed
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so okay fine so you're saying the reason that blacks are owed this is because of what happened
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during slave time yeah you you worked for 200 plus years for free and you think that the 200
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and contributed to society you think that 200 years ago had a direct impact on your life
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specifically today yeah 100 okay what do you mean i'm not i'm not here to argue it i just
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seems like you want to argue it no no i'm not you want to argue this i'm not here to argue
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i'm here to get your perspective on you believe your life is impacted because of something that
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happened 200 years ago are you saying it's not like why are you even proposing that question
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i'm saying that you should be saying that too right you're saying that also i'm saying your
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life has been impacted by 200 years plus no slavery i don't way longer i don't believe so
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you would reject reparations if they came and handed you four million dollars no listen you're
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not hearing what i'm saying i'm not gonna reject it right i'm gonna take it because they somebody
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feels like i need this it's not my place i don't have that money to hand out it's not my place to
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say what people need and what they don't need but what i'm saying is i'm i'm personally not going to
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sit here and say i'm in my situation that i'm in today because something that happened 200 years ago
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you think it's a victim mentality i didn't say that but you are saying no i'm saying i'm saying that today me personally
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my circumstances you don think redlining has anything to do you don think your parents what generation was the first Do you know which generation was the first ones to own a house in your family
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Was it your parents? I believe, I believe, and I'm not 100% sure, but I believe my grandmother owned her home
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Where? I guarantee it was in a red A red lined area
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Where property values Did not go up at all If you wanted to go to college
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You would have had to pay for it all Out of pocket How much money do you think that you
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How much do you think she inherited from her mother To buy that house
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I don't know It was in Arkansas I bet you probably nothing
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I don't know But again my personal, for me, but my grandmother, her home
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her having a home, her not having a home, doesn't have any impact on me
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today in my life. It does. It's just my opinion. Yeah, yeah. You don't think
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it does, but it does. Yeah, I don't believe that it does. I had... Because you weren't
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given anything. What? You weren't giving, you weren't... What we're talking about
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is generational like compound interest and what black people need to understand is compound
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interest like building wealth on wealth on wealth that's how gener that's how your future will get
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rich so if you're going to leave them homeowner yeah did your parents give you any money towards
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your buying your home no my parents didn't give me anything so imagine if they had given you
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money towards you're right i would have had a head start on i would have had a head start on life
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but I also wouldn't be where I am I don't feel like I'd be where I am today
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if what? if my parents handed me stuff I feel like the struggle
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and or the hardness of it or not having it handed to me molded me
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in a different way to be able to handle and deal with
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the day to days and the life It can mold you, but the problem is you're trying to keep up with other people that are compounding
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Like you're trying to keep up with your other friends that are turning 100,000 into 200,000 and passing off 200,000
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Isn't that a mistake? It's not. It's making them extremely wealthy. If you drive in Laguna Beach and you drive down the beach, there's not a black
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There are black people, I'm sure. Kobe, you know what I'm saying? Like there's some there
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But if you drive Laguna Beach, California, for everybody who doesn't know where that is
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if you drive down there there's nobody that is black no and that's if you're in these rich areas
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majority of them are white and we have to figure out why yes it makes you stronger it makes you
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better to you know maybe survive but you have to compound wealth you have to figure out a way to do
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that if you want to do you think and now now we're playing such a big catch-up game when they're
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handing their kids off a million and they're compounding you know the majority of them that
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you would be the same person you are today if you were handed stuff growing up just out of curiosity
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now we're talking about how things affect people individually when you look at the group
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perspective yeah you can be handed you know 200 000 towards your home and still be hard working
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because as an adult they were given that gift now they have but i guess my question they can
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instead of putting money towards a down payment like where we came where we live because we're
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kind of from the same person the majority of our white friends were all given money for their first
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house yeah they were all given a fresh like a start from that generational amount whereas me
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and you our family struggled and gave everything they could into getting to the area that we're
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from right so they have no money to give us i guess so here's the problem i get you guys are
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trying to do this on a grand scale right and i get it but i really don't even if you take us
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even if you take us as an example like we and you would have to leave right and we we compare
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ourselves to the others that had uh generational wealth advantages versus us and we look at where
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they are today and where we are today, right? Would you look at it and say okay this the same No their generational wealth worked For how many people for most of them for all of them for most of them for most of them yeah they were able would you want to trade places
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with any of them today you personally or do you find probably financially no no total total and
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totality. Do you find value in what you've been through? And would you prefer that over
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the unknowns of what they've went through? That's very hard to say. I think we have
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to look at this on a financial... You don't want to be rich and give your kids advantages, like going to a better school
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living in a better neighborhood. Then you're against that, and you just live in a difficult
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area because that would make them tougher. I specifically grew up in a not so great area. Things happened
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in my life that altered that allowed me to move into a nicer
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area where I understand now what it's like to live in a nicer
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area and I know what it's like to not live in a nice area. So for me personally
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absolutely I want to give my kids every advantage I can possible
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to move themselves forward. I 100% think that that's what they need and it's good for them. But at this point, I'm not going to sit here and blame where I'm at
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on something that happened 200 years ago. That's all I'm saying. But I believe it's an objective
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thing. It's not even a subjective thing where you would blame it or you don't blame it. There's
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consequences to actions. Black people being enslaved in America and working for free for
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200 years and then being let go into a racist society and being told you're not going to be
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equal. That has consequences to where we are today. Yeah, you're not going to be able to go
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You're not going to be able to go to school. You're not going to be able to buy a house
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And the list goes on. I can go on forever. I don't know. And now you're out there competing with everybody else. Yeah
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And have these things holding them back. We might have to create those racist policies
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but make it racist towards white people now and give all the advantage to black people
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See, here we go with that. Here we go. See, you could say like the down payment for a black family will always be 1%
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okay and then but but everybody else has to go off inflation which is at eight percent now ten
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percent like you could do that for a long period of time and then that'll help see that's a barrier
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that's something where you don't have to go and get schooling but you still you might have to still
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apply for a loan but once you apply for that once you qualify for a loan you always get it at one
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percent interest things are cheaper at the grocery store if you have your black card roman
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this your guys this is not this no i don't understand that's not even a bad idea actually
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that was funny but it's not a bad idea so you scan your black card and you get 50 there's a
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whole bunch of problems with that because cheaper eggs it'll be a problem because black people will
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be selling their black so it's like these things really have to be thought out right but i think
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that's a good like no because you have to create a store that only blacks can go into now we're
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going back into racist times again you can't go to the same stores anymore wait what what why do
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you have to do that because you can't have a store where we can all go into but i'm black so i get it
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for two dollars like if we're really it's four dollars if we're really going down this road like
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it could be a fingerprint like the way amazon's doing the new wave thing like you have to go
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somewhere get pre-qualified no no obviously this is something we these are programs that we really
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have to think out. Roman's just throwing out ideas. She's not like
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you know, she's not saying this is the answer. We don't know what the answer is
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I'm imagining white people taking their black friends shopping all that stuff to take advantage
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of that. Of course. And then, hey, could you wave your hand across my thing
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I'll give you $5. And what happens if, like, I don't know
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Obviously, that's not the answer. I think the program that I like after
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everything we've said is the, like, you pay 2% interest forever. Once you qualify for a home, your interest rate
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is locked in at two. Done. Yeah, special programs. Special programs. All roads lead to home ownership
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I don't know what they are, but I'm trying to take every sector and
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education and home ownership. Maybe education should be free. Maybe college needs to be free for the next
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50 years. I don't know. Do you think that levels the playing field? I think that
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starts to level the playing field yes
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