Slavery Reparations Could Cost Up to $14 Trillion, According to New Calculation

Newsweek ^ | August 19, 2015 | Douglas Main

[2ndDivisionVet]

In 1865, toward the end of the Civil War, Union Army General William Tecumseh Sherman promised slaves that they’d receive 40 acres and a mule. Land was even set aside, but the promise was recanted by President Andrew Johnson. Ever since, the issue of reparations has come up many times, often fiercely debated. Although most Americans generally don’t support reparations, according to University of Connecticut researcher Thomas Craemer, it matters greatly how the question is worded, who would get reparations and in what form. For example, the idea of reparations paid in educational benefits are more popular than others, Craemer says.

On the other hand, one of the cases often made against reparations is that it'd be impractically difficult to calculate how to fairly take and give so many years after the fact. But in a new paper, published in the journal Social Science Quarterly, Craemer makes the case that there are other examples of historical reparations paid many decades later after “damages” were incurred. He also has come up with what he says is the most economically sound estimate to date of what reparations could cost: between $5.9 trillion and $14.2 trillion.

Craemer came up with those figures by tabulating how many hours all slaves—men, women and children—worked in the United States from when the country was officially established in 1776 until 1865, when slavery was officially abolished. He multiplied the amount of time they worked by average wage prices at the time, and then a compounding interest rate of 3 percent per year (more than making up for inflation). There is a range because the amount of time worked isn’t a hard figure....

[cuban leaf]

Yep. The “reparations” is that we - the United States of America - gave up the lives of hundreds of thousands of its citizens to free the slaves.

We’re still waiting for the “thank you” letter for our gift.

[utax]

where do I send my $0.02?

[rbg81]

A couple of thoughts:

1. The US is already effectively broke in that we cannot possibly pay our future obligations. I think our future obligations exceed $200T. So activists will say, so what is another $14T?
2. The Government & Corporations will look at this as a big stimulus package. For the sake of argument, say you handed out $14T in cash to all Black Americans. What percentage of them would actually save/invest it? Or use it for self-betterment (e.g., college education). Maybe 5-10%? The vast majority of them would blow the $$ on things ranging from houses, cars, TVs, ....., drugs. So it will slip through their fingers and back into the “White” economy pretty quickly. The stuff they get won’t last long either. Even new houses fall apart surprisingly quickly if you don’t take care of them.
3. Anyone who thinks this is a one shot deal would be mistaken. Because, after all the $$ is gone (and that would not take long), they’ll be in the same place, only worse. Then they’ll demand follow-up payments. In short, it will NEVER be enough.

[TangoLimaSierra]

Lots of blacks owned slaves, too.
I hope they delve into their ancestry to see how many blacks will have to pay up.

[cincinnati65]

Let's say for a minute (just for the sake of argument) the the number is accurate. Let's reduce that by room and board for all slaves and their families while slavery was legal (compounded at the same 3% rate), and while we're at it, reduce that amount by the income differential between African Americans and any of the main slave supplying countries in Africa today, multiplied by the differential between number of years life expectancy between African Americans and the average life expectancy of any of the main slave supplying countries, and agree to give two cents each to any African American who can prove direct lineage back to a slave in this country.

I mean, we're not going to pay "reparations" based on skin color alone, right? That would be racist.

[cincinnati65]

"In 1865, toward the end of the Civil War, Union Army General William Tecumseh Sherman promised slaves that they’d receive 40 acres and a mule"

Fine, sue the estate of General William Tecumseh Sherman for breach of promise. Serves him right.

[GoneSalt]

President Monroe colonized Liberia for the freed slaves. If you want to go, go.

Perhaps as long as we’re deporting illegals we should think of revoking citizenship for some folks and put them on the same bus. Mexicans would make short work of Farrakhan.

[Poison Pill]

Whats the cost after subtracting the value of affirmative action, Great Society, Welfare, Sec. 8, EBT, WIC, etc for 50 years?

[Ouderkirk]

You’re close. Try this

In order to receive reparations they MUST;

Renounce their U.S. Citizenship

Relocate to the African country most closely resembling their DNA.

The will be permanently barred from entering the U.S. Under penalty of death.

[EQAndyBuzz]

Give everyone of them a plane ticket to Zimbabwe with a check for 500,000 dollars. Man, woman and child. The only catch is that you never enter the USA again.

Do the same thing with every illegal alien.

It would still be cheaper than Obamacare.

[PGR88]

Just have the Federal Reserve print up another $$ couple trillion to get things started, no problem

[KeyLargo]

Exclusive: 18-Year-Old shot and killed by St. Louis police BEAT UP A GAY PERSON for a friend

Posted by soopermexican on Aug 20, 2015 at 8:07 AM in Politics | 24 Comments
By soopermexican

Yesterday tensions flared in St. Louis when an 18-year-old was shot and killed by police who claimed that he ran and then pointed a gun at them while they were serving a warrant at an address he was located at.

Of course, the “Black Lives Matter” people are making him into an innocent victim:

http://therightscoop.com/exclusive-18-year-old-shot-and-killed-by-st-louis-police-beat-up-a-gay-for-a-friend/

[zzwhale]

NEWSWEEK was purchased for a buck and the buyer OVERPAID...
I SAY GIVE THEM 40 ACRES AND A MULE
mohave desert is a good location i’d say...and other such areas...
better yet.... 40 acres in the congo...

[KeyLargo]

CNN’s Don Lemon Asked ‘Family Member’ of Black Lives Matter’s Shaun King If Both of His Parents Were White — and He Got an Answer

Aug. 20, 2015 8:48am Jason Howerton

A “family member” has reportedly confirmed that prominent Black Lives Matter activist Shaun King is the son of two white parents, CNN’s Don Lemon reported.

Following claims that he’s essentially the male version of Rachel Dolezal, the former NAACP official who pretended to be black for years, King alleged Wednesday there is a “white supremacist conspiracy” against him.

In a text message conversation with King, Lemon said he asked the activist directly if he was black or white

“Initially he did not answer,” Lemon said, “but later referred to himself as biracial.”

But when Lemon pressed further, asking him what his race is listed as on his birth certificate, King reportedly went silent.

“No answer on that,” Lemon added.

More from CNN:

http://www.theblaze.com/stories/2015/08/20/cnns-don-lemon-asked-family-member-of-black-lives-matters-shaun-king-if-both-of-his-parents-were-white-and-he-got-an-answer/

[mikey_hates_everything]

Yeah, enjoy it while it lasts—anyone even entertaining this crap or taking it seriously. In 17 months, we won’t ever be hearing any more about it again except in joking.

[chesley]

How many hours? How many slave? Blah. Blah. Blah.

Guesses. May be good ones, may not. But in any event, reparations WILL NOT HAPPEN!!!

[jmaroneps37]

It won’t cost a dime since it aint gonna happen.

[tanknetter]

“Watch the tax revolt if this takes place”

It’ll run smack into the brick wall on the right side of the Laffer Curve.

Which might be fun to watch. The US devolves into a barter economy. The recipients of reparations, along with their Progressive enablers/cheerleaders, quickly find that 1. Their reparations $$$ aren’t worth much in a barter economy and 2. They don’t have either the skills or property that are valued in a barter economy.

[KeyLargo]

Reparations in need here:

Man Swipes Grooming Accessories, Bluetooth from Menards: Prosecutors

Prosecutors tell judge man had five prior felony retail theft convictions that included prison time. By Lorraine Swanson (Patch Staff) August 20, 2015 Photo: Dwayne Clemons, 49 | Cook County Sheriff

BRIDGEVIEW -- A man with a history of felony retail theft convictions including prison time was arrested as he attempted to leave the Tinley Park Menard’s store with $83 worth of stolen merchandise, prosecutors said in bond court on Wednesday.

Prosecutors said that Dwayne Clemons, 49, stole a beard trimmer, mustache trimmer, beard shaper and a Bluetooth device totaling $83.

Clemons was charged with felony retail theft based on priors. The judge said he was considered a high risk based on a pretrial risk assessment, on which he scored a 14.

Bail was set at $300,000. Clemons is due back in court on Sept. 18.

http://patch.com/illinois/

[KeyLargo]

"In 1865, toward the end of the Civil War, Union Army General William Tecumseh Sherman promised slaves that they’d receive 40 acres and a mule"

Chicago Alderman 'Dorthy -'The Hat' Tilman.

Tillman is not alone. During the debate over the reparations law, 34th Ward Ald. Carrie Austin voiced her support by declaring, ''I want 40 acres and a Lexus. You can keep the mule.''

http://www.freerepublic.com/focus/f-news/1036339/posts