The Blubber

Per Business Insider

San Francisco policymakers are considering tackling a sensitive topic regarding amends for its historical slavery legacy. Reparations could include offering Black residents $1 homes or $97,000 annually for 250 years.

It was specifically noted that these reparations would be available as long as the residents qualified. So far, these remain just ideas but could reportedly become law as soon as this week.

So far, there has been no discussion about how the policymakers plan to pay for the ideas pitched. As reported by the Associated Press, other possible reparations include potentially canceling a person's debt and tax burdens.

There were reportedly over 100 ideas outlined in a 60-page report in December 2022, including creating a Black-owned community bank. Should the reparation plans be approved, this would make it the largest package approved in the United States by far.

So far, the parameters have not yet been set as to how individuals would qualify to get the reparations. However, the proposal is that the residents must be at least 18 years old and have their public documents identify them as Black or African American for the last decade.

Not everyone was in support of this, including the chair of the San Francisco Republican Party, John Dennis, saying the matter was unserious.

Dennis: "They just threw a number up, there's no analysis. It seems ridiculous, and it also seems that this is the one city where it could possibly pass."

Recently, California was weighing on $360,000 in reparations to eligible black residents. During the time of the report, there was a projected deficit of $22.5 billion, with the California task force not yet saying how they plan to pay the amount.

A growing number of Americans were claiming their Social Security years before they actually retired. This comes out of fear that the benefits could be cut should the program run out of cash.

See flow at unusualwhales.com/flow.

Other News:

• California is weighing on $360,000 in reparations to eligible black residents
• Some Americans are claiming Social Security years before full retirement age out of fear their benefits will be cut once the program runs short on cash

Resources:

Business Insider