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Comments (40)
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FuckGenderPolitics 43 points ago +43 / -0

I don't doubt that there is a black tax because it wouldn't make actuarial sense not to have one. If you invest in a dindu infested shithole the chances of your investment going up in flames during a Burn Loot Murder riot are exponentially higher than if you invested that money in a civilized white majority area. If you borrow that money then the lender will be rightfully concerned that the investment will be torched and they won't be paid back. So they charge a higher interest rate to account for the added risk. Those shitholes should consider themselves lucky that they have willing lenders at all.

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Smith1980 27 points ago +27 / -0

A Baltimore resident made that point. Also in Sowell’s book Basic Economics he said that exact thing how there is a lot of talk of food deserts but there are added costs to operating in a high crime area

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Kaarous 5 points ago +5 / -0

Especially since food of any kind, both restaurants and grocery stores, have razor thin margins.

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Smith1980 6 points ago +6 / -0

I learned that when I worked at Kroger part time

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ghostfox1_ 11 points ago +11 / -0

Correct. Higher risks come with higher rates in order to minimize the money you lose (because you'll lose some at some point).

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when_we_win_remember 7 points ago +9 / -2

And yet they're not calling it the Jew Tax

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LibertyPrimeWasRight 3 points ago +4 / -1

Say what you want about Jews, but they aren’t known for theft, violence, and rioting.

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when_we_win_remember 11 points ago +11 / -0

Well, not that kind of theft.

Btw not that I care about fake internet points, but I'm salty today. Downvoters can suck the big one. I name the guys actually charging the "tax" who doubtlessly are also the ones complaining about it. Jews invented the banking industry as we know it, and absent my invoking of the Chosen, most people would happily admit banks are thieves. So, forget I said anything, and I said "banksters."

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current_horror 11 points ago +11 / -0

Say what you want about Jews, but they aren’t known for theft

lol

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LibertyPrimeWasRight 8 points ago +8 / -0

Left me amend that... petty theft and robbery, in the sense of pull a gun at the convenience store, shoplift, take school equipment, etc.

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Adamrises 3 points ago +3 / -0

I think setting up the situations where other people do that instead still counts, even if you don't get your own hands dirty.

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LibertyPrimeWasRight 2 points ago +2 / -0

Morally, yes. For the purpose of this “tax,” I’m not sure.

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Guy_Incognito76 3 points ago +3 / -0

Holy fuckballs, someone never heard of the bolsheviks.

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justicein2020 5 points ago +5 / -0

you're thinking only one step.

invest in shithole. take out insurance. take out insurance on the investment.
split and repackage that all up into securitys and loan etfs
take out insurance on all that and split everything all up again and sell it over and over to millions! profit all the way!

when it falls apart. you get bailout. if you're still juggling at all...
either way you got money. and it's not your monkeys.

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Unknownsailor 25 points ago +25 / -0

Shall we talk about the black tax that no one wants to discuss, which is all the added policing and confinement costs associated with a large criminal black demographic residing in the city?

Nah, no one wants to talk about that.

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Ahaus667 [S] 19 points ago +21 / -2

Sowell blew this argument out of the water years ago when they were claiming inner city stores had higher prices because “ black tax”. Sowell being an actual economist, looked over the data and found a “hillbilly” tax that existed in rural stores that also had significant crime and theft rates. Go figure.

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Smith1980 17 points ago +17 / -0

But of course Sowell is a bad person for using facts and data

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ghostfox1_ 17 points ago +17 / -0

He also didn't vote for biden, so he ain't black

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Smith1980 6 points ago +6 / -0

Ha! Very true

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Unknownsailor 7 points ago +8 / -1

How much smaller could jails and prisons be if the black criminality rate was indistinguishable from white? How much smaller could urban police departments be? How much more property tax revenue would be collected because property values were not depressed due to high crime?

I didn't say anything about store prices.

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when_we_win_remember 7 points ago +7 / -0

Presumably the US incarceration rate would look more like the whitest countries in Europe with no blacks. I mean, modulo Hispanics.

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Adamrises 6 points ago +6 / -0

How much additional revenue would we have had over generations if we hadn't lost lives and mental states to their violence and rape over and over? That alone is probably worth more than they have contributed to the system each year alone.

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Kaarous 5 points ago +5 / -0

They'd be next to nonexistent. Black criminality is nearly fifty times any other demographic, even Hispanics.

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cccpneveragain 21 points ago +21 / -0

Investors don't give a shit about blackness. They give a shit about not losing their money. School districts with shitty management are a higher risk. If you've got $400M in deferred maintenance, you are shitty management. Maybe you should have maintained your property properly over the years instead of hiring your Aintee LaRhonda's baby daddy to do it cuz he gud at fixin stuff and sheeit.

I did contract work for some of these type schools years ago. One of them I know for a fact is totally defunct. I bet their bonds didn't get paid back.

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Smith1980 10 points ago +10 / -0

And why would I invest money in a business when the chance of it getting destroyed in a riot is high because the city doesn’t have the guts to stop it

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Smith1980 15 points ago +15 / -0

Yawn. I was tired of this “blame racism for every little thing and never examine the actual issues” mentality as a teenager. I’m now 42. Maybe reading some Thomas Sowell in these public schools would help. I’m so over this. I spent recklessly with credit cards in my younger years and am paying off debt and I hope to have it paid off in the next 5 years. Guess who is at fault… me/myself/I

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SR388-SAX 12 points ago +12 / -0

I've got a married cousin who racked up a bunch of credit card debt (though it was only about 16k which certainly isn't insurmountable) when she and her husband were younger.

They stayed at my house a few years back while they were visiting the area and we were talking about it a bit. They firmly blamed the husband's parents for all of their debt because they'd had the audacity to co-sign with him for a credit card when he went to college. I had trouble believing that they were serious, but it was 100% sincere.

Also, they spend a couple hundred bucks per week going out to bars.

I'm like, "you could have this paid off in a couple of years, easily, if you just chose to." And they agreed. Fast forward to today: they're still in debt.

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when_we_win_remember 7 points ago +7 / -0

I racked up 5K before I graduated college, and it was paid off within a year of working full time. I lived in a shithole converted motel room. People make lots of excuses.

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Smith1980 4 points ago +4 / -0

Yea I’ve hit some speed bumps and the first bonus at my job I blew it on fun stuff. I then bought Dave Ramsey’s book so now I’m using his plan to get out of debt.

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anta_occult 13 points ago +13 / -0

Have any of these researchers done the most basic bit of analysis and look at default rates (you know, that thing that drives bond ratings)? Not mentioned in the whole article.

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Pandelume 19 points ago +19 / -0

The only mention:

But Gary Hall, who leads public finance at Siebert Williams Shank & Co., the largest ­minority-owned investment bank, defended the industry in the congressional hearing: “We would not have repeat clients if we didn’t obtain the lowest cost of financing possible based on fundamentals of credit and risk.”

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when_we_win_remember 7 points ago +7 / -0

Yeah get the black guy to explain it to them. That will certainly cause them to come to their senses.

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current_horror 10 points ago +10 / -0

Blacks are net negative tax payers to the tune of almost 8k, per year, per person. I’m not interested in any discussion of inequity that doesn’t specifically mention the aforementioned tax/benefits gap.

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Mpetey123 9 points ago +9 / -0

Investors don’t like Blacker cities. To look for evidence of discrimination, Wynter and other scholars reviewed measures of what social scientists call “racial animus”—for example, racially charged tweets about President Barack Obama’s reelection. Did regions with higher measures of animus punish Blacker cities?

Is this not a defense of the social credit score here? Sure it's disguised in a social justice equity piece about poor children, won't someone please think of the children, but it's essentially laying the bricks for combining banking and social media being merged to create a future economy?

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Smith1980 7 points ago +7 / -0

But these articles never want to look at the root issues

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ghostfox1_ 8 points ago +8 / -0

Because that would mean they'd have to admit the left is evil, and they can't do that.

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LawNmowermaN 4 points ago +4 / -0

Basically, they want laws making investors favor them in order to counteract racism (real and/or imagined). So that's exactly what it is, weighting the risk/return profile of the loan with an ESG or DIE score. Like affirmative action, but you just get the money instead of the job where you work for the money.

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Skywise 9 points ago +9 / -0

It’s ass backwards - they’re not poor and have low bond ratings because they’re black. They’re poor because they follow socialist policies and don’t produce anything of substance.

They’ve baked it into the culture now with anyone who likes to work and be competitive as being “white”

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Guy_Incognito76 5 points ago +5 / -0

"Help our school is trashed."

"Who trashed it?"

"Fuck you whitey! RACIST!!"

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subbookkeeper 3 points ago +3 / -0

Crime always causes poverty.

Poverty may cause crime.