US Ruling Class Still Holds Wealth Stolen from African People: Journalist

Tuesday, 03 August 2021 2:54 PM 

Press TV 

Shawn Rochester, author of "The Black Tax: The Cost of Being Black in America"

Enormous wealth -- extracted from African people -- held by the largely American “white ruling class will have to be expropriated in order to guarantee full equality,” according to African American journalist and activist Abayomi Azikiwe.

Azikiwe made the remarks in an interview with Press TV on Tuesday commenting on a report which stated that racism has cost Black Americans $70 trillion since the start of slavery.

Shawn Rochester, author of "The Black Tax: The Cost of Being Black in America," has quantified the cost of racism in the United States, which he said is $70 trillion since the start of slavery.

In his book, Rochester breaks down how racism and discrimination have cost Black Americans trillions of dollars over the course of several generations, and how discrimination has created the massive racial wealth gap that exists today.

He spoke to Business Insider in September last year about how he came to that figure, citing government-sponsored wealth-building programs such as the Homestead Act and VA loans.

He said, these days, the Black Tax is perpetuated by discrimination — Black people are hired less frequently, paid less, and have less access to wealth-building tools like affordable mortgages.

“This is an interesting formulation on how much wealth has been extracted from African people since the period of enslavement. Rochester then goes on to cite the gross exploitation, discrimination and oppression carried out since legalized slavery ended after 1865,” said Azikiwe.

“His solutions are thoughtful about how to approach some form of reparations for both enslavement and later disenfranchisement through denial of political and economic opportunities,” he told Press TV.

“However, the $70 trillion owed cannot be paid while maintaining the same capitalist economic and social system. Enormous wealth held by the largely white ruling class will have to be expropriated in order to guarantee full equality and the right to self-determination moving forward,” the journalist noted.  

“The capacity of the existing status quo to continue an unjust system must be dismantled,” he concluded.

'US capital produced by slave labor still resides in specific bank accounts'

Commenting on this, American journalist Don DeBar said that “the salient point is the fact that the money that was created with the labor stolen from enslaved people still resides in specific bank accounts that can be easily traced and, therefore, should be available for reparations, since this is the actual wealth created by that stolen labor.”

“We never hear any question about this. What is discussed is some way of levying taxes against all ‘white’ people (and God knows who else) except for the people who actually have the damned money, many (if not most) of whom inherited it directly from the people who owned slaves and stole their labor,” he stated.

“There's also Jim Crow reparations that should be made for the institutional problems after the Civil War such as the freezing out of Black folks from programs like VA mortgages etc. That’s a separate question, and those funds are a social responsibility of the entire society. But the capital that was created which is fundamental capital to this country under a condition of slavery by people who were enslaved is still in bank accounts that can be accessed and redistributed,” he said while commenting to Press TV.

“That's not the whole picture of course. People took cash as profits from selling cotton and tobacco and other goods produced by slave labor and they purchased other assets, such as corporate stock, real estate, Etc. But a great deal of that also can be easily traced to present hands, and again, a great deal of it simply passed through inheritance to the descendants of the slave owners and other slavery profiteers,” he noted. 



No comments

Thank you for reaching out to us. We are happy to receive your opinion and request. If you are need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.

We will also try as much as possible to optimize your post for search engines as well.

Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.

2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.

Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.

Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to omodjk(at)gmail(dot)com

Normally, we should respond within 48 hours.

Sponsored Partner's Advertisement