U.S. Supreme Court Decision Will Destroy Black Wealth
Last weeks U.S. Supreme Court Decision to reinterpret a portion of the 5th Amendment for the benefit of government "financial interests" is going to destroy black wealth disproportionately. Four White Left-Wing Liberal Democrats and one White "moderate" Republican formed the all white, 5 person majority of the 5-4 decision of the so-called "conservative" high court to guarantee the opportunity of [mostly white] developers to collude with the government to force Blacks to sell their homes. Governments are now empowered to do redistribute accumulating wealth from hardworking Blacks to their White, Left-Wing liberal elite, benefactors.
The amount of accumulating wealth and income that Blacks would lose is extremely disproportionate and staggering because according to the 2000 U.S. Census, over 75% of Blacks live in urban areas while only about 33% of Whites live in urban areas. Also the most sought-after property for redevelopment over the last 15 years has been in these urban areas. Now remember, generally the largest asset that Blacks owned is their home. Developers have been reluctant to plan development in urban areas because the private cost of that land can be expensive and the time involved to secure it can be consuming. Governments have wanted to help developers in the past but have been limited to a strict interpretation of "public interest" (i.e. roads, bridges, stadiums, etc.) and were not been able to force private property owners to sell for the benefit of other private owners - not matter how much these governments wanted to do so.
Furthermore, Blacks would have to pay an increased assessment tax on the new home that they would have to buy which would neutralize President Bush's tax reform measures. If that home was part of their retirement plan, the forced sell would result in a reduction of anticipated (retiree controlled) retirement benefits that could be realized. This would neutralize President Bush's reform of Social Security. So it is a lose situation for the Black homeowners and a win for the government and private developers.
Readers please understand that the impact of this decision is as profound as the Plessy v. Ferguson decision in 1896 to establish the doctrine of "separate but equal". We cannot wait another 58 years for another Supreme Court to overturn this decision (as was done in Plessy with Brown v. Board of Education in 1954) nor should we wait 68 years for a "Property Rights Act" to be passed in order to further clarify and enforce another Constitutional Amendment (as was done with the 1964 Civil Rights Act). Conservatives have to be as outraged as those who organized to abolish slavery in the 1800's and as determined as those who managed the passage of our nation's Civil Rights Legislation in the 1900's. Left-Wing Liberal Judicial interference of Black humanity and prosperity must end now!
The amount of accumulating wealth and income that Blacks would lose is extremely disproportionate and staggering because according to the 2000 U.S. Census, over 75% of Blacks live in urban areas while only about 33% of Whites live in urban areas. Also the most sought-after property for redevelopment over the last 15 years has been in these urban areas. Now remember, generally the largest asset that Blacks owned is their home. Developers have been reluctant to plan development in urban areas because the private cost of that land can be expensive and the time involved to secure it can be consuming. Governments have wanted to help developers in the past but have been limited to a strict interpretation of "public interest" (i.e. roads, bridges, stadiums, etc.) and were not been able to force private property owners to sell for the benefit of other private owners - not matter how much these governments wanted to do so.
Furthermore, Blacks would have to pay an increased assessment tax on the new home that they would have to buy which would neutralize President Bush's tax reform measures. If that home was part of their retirement plan, the forced sell would result in a reduction of anticipated (retiree controlled) retirement benefits that could be realized. This would neutralize President Bush's reform of Social Security. So it is a lose situation for the Black homeowners and a win for the government and private developers.
Readers please understand that the impact of this decision is as profound as the Plessy v. Ferguson decision in 1896 to establish the doctrine of "separate but equal". We cannot wait another 58 years for another Supreme Court to overturn this decision (as was done in Plessy with Brown v. Board of Education in 1954) nor should we wait 68 years for a "Property Rights Act" to be passed in order to further clarify and enforce another Constitutional Amendment (as was done with the 1964 Civil Rights Act). Conservatives have to be as outraged as those who organized to abolish slavery in the 1800's and as determined as those who managed the passage of our nation's Civil Rights Legislation in the 1900's. Left-Wing Liberal Judicial interference of Black humanity and prosperity must end now!
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