WHY IT'S IMPORTANT
Other cultures have grasped the concept of recycling dollars within their own communities and realized the power of doing so. When dollars are recycled within a certain community, it means members of that community are productively employed, building financial wealth & freedom for future generations, and securing financial independence. The Black community must start to buy into this strategy if we ever hope to see another Black Wall Street.
We don't have all the answers, but here are a few suggestions collected from members of our community on how to get there.
We don't have all the answers, but here are a few suggestions collected from members of our community on how to get there.
HERE'S HOW
- REPARATIONS. The American dollar has become the standard in the global economy, and it's only the reality because of the centuries of free, forced labor from the enslavement of Black American's ancestors. To this day, Black Americans have never been paid the debt owed for their contributions to making America's economy the greatest in the world. There have been several suggestions from Black Americans not having to pay taxes, to free education & healthcare, to monetary settlements. We believe Black Americans being exempted from paying any form of taxes and other costs, such as healthcare is an appropriate start.
- End policies or practices that disenfranchise the Black community, especially when it comes to voting. Voting/election days should become a national holiday to ensure minorities who are often working 2-3 jobs can exercise their right to vote without being penalized.
- Serious penalties for banks, large corporations, landlords & all others that discriminate against minorities by denying bank loans, charging a higher interest rate than another white applicant within the same credit score rating, or by denying services or showing preferential treatment to another.
- Every business must be required to enforce policies that ensures equal treatment of all customers and provide clear guidelines on how racist behavior will not be tolerated and how it will be punished.
- Increase minimum wages. COVID-19 proved more than anything that members of the Black community make up a significant part of essential workers, who are only paid minimum wage. Truth is the world & our economy cannot operate without essential workers (grocery stores, postal/mail service). During a pandemic these essential workers risk their lives to keep the economy going and they deserve to make significantly more in wages.
- Eliminating tax codes on low income neighborhoods that have smaller budgets for public schooling. Instead, invest in inner city youth programs & charters to mentor more productive leaders. Provide other options to our youth besides sports/entertainment industry and promote Black ownership in real estate & businesses.
- Invest the time to discover black owned businesses within your community, then support them. If you have a bad experience be sure to tell the owners in a respectful manner & simply don't go back. If you have a good experience, be sure to share & promote that business.
- Create more grocery stores in underserved communities.