If Black Lives Matter, then Black business matters also. Black business is the key to quality Black lives. Currently there are 6 Black Billionaires worth an estimated 15.3 Billion Dollars. I did not include Black Millionaires because there are many more of them and these are sufficient to show my point.
Robert F. Smith 5.2 Billion
David Steward 3.7 Billion
Oprah Winfrey 2.5 Billion
Michael Jordan 1.6 Billion
Kanye West 1.3 Billion
Shawn Carter 1 Billion
15.3 Billion Dollars.
Several of these people do support philanthropic activities. They all earned their money fairly and legally and are entitled to do what they want with it. I do not support forcing them to do what I want them to use that money for, I believe that is entirely their choice. I do want to offer an alternative choice for them and all the Black Millionaires like Sharpton, Whoopi, Jackson, and the rest of the liberal race baiters.
Small Business Administration (SBA) loans are loans that are issued by banks, but guaranteed by the Small Business Administration. The average start up loan is $107,000
15.3 billion/$107,000=1,429,000 Small business loans. Almost 1.5 Million new businesses could be started in Minority communities with this amount of money.
Opportunity zones were proposed by Senators Tim Scott, Cory Booker, and Representative Ron Kind and supported by Sean Parker's Economic Innovation Group. States may designate up to 25% of low-income census tracts as Opportunity Zones. Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act, signed into law by President Donald J. Trump.
We can kiss this idea goodby with Chairman Joe in Charge.
However it does give tax benefits to people who invest in these economic zones, both short and long term.
Think about what the opportunities to really improve someones life by helping them create a new business with the attendant increase in job opportunities. There are more than 8,768 zones in the 50 states, and five U.S. possessions. $1.5 Billion would put about 16 new businesses in each zone.
Personally I feel that this is the job of the individual, not the Federal Government.
In my Editorial Before Welfare how did we care for the Poor? August 19, 2013. I discussed Mutual Aid societies, how they worked and supported poor communities. My suggestion is a return to those policies, not a Federal take over but people caring for people.
Just my Thoughts for today.