Timeline of Inequality in America & Who’s Responsible for It ...
So today I did a thing. I sat down and started to really look at some of the milestones of inequality in America and then I thought I'd really like to share this with all who are interested.
We have to make a shift in who governs us as a people.
Where we ever thought the wealthy should govern us and that they treat us as well as they treat themselves was just the most stupid thing I have ever heard of. And I'm up for actual discussion on this position so feel free to call me for an actual discussion if you feel the need. Otherwise, here are the facts as I have researched them and I'm pretty sure there are more to come. I didn't even address the Covid-19 inequalities just because I was so overwhelmed in what I had found out with the rest of our history.
And with Social Media connecting all of us (or most of us) I feel the time is now for action. I feel we can make some changes, difficult as it will be because the wealthy and powerful will not willingly step down.
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We have to make a shift in who governs us as a people.
Where we ever thought the wealthy should govern us and that they treat us as well as they treat themselves was just the most stupid thing I have ever heard of. And I'm up for actual discussion on this position so feel free to call me for an actual discussion if you feel the need. Otherwise, here are the facts as I have researched them and I'm pretty sure there are more to come. I didn't even address the Covid-19 inequalities just because I was so overwhelmed in what I had found out with the rest of our history.
And with Social Media connecting all of us (or most of us) I feel the time is now for action. I feel we can make some changes, difficult as it will be because the wealthy and powerful will not willingly step down.
______________________
Timeline of Inequality in America
& Who’s Responsible for It
When you look at a plant; it’s the roots that dictate how healthy it is.
We must look at the roots of all our institutions and change out the rotten; the selfish; the unkind; those who think they are superior to all of the rest of the population.
Without this change we will simply have the wealthy and the powerful continue to abuse the majority of the people in America. And the wealthy and powerful will not go away without a fight I assure you.
We cannot look just to a President for accountability; we must drill down to our representatives in federal, county, local and neighborhoods.
We must institute a People’s system of checks and balances so that the right attitudes, which want to foster good for all, are put in positions of power and governance.
And, dare I say,
No more corporate special treatment.
No more wealthy special treatment.
No more Lobbyists and special agendas.
Equality for All People in America.
Prosperity for All People in America.
No more Working Poor!
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1929-1933
The Homeowners Loan Corporation bank was created by Theodore Roosevelt. The purpose was to purchase bad home loans from the banks for pennies on the dollar and then issue new, affordable home loans that people could pay off and/or keep your home. This program was geared toward white home ownership only.
There are cracks in the foundation of our housing system
1935 The Wagner Act harmed blacks by making labor union monopolies legal. “By encouraging unionization, the Wagner Act raised the number of insiders (those with jobs) who had the incentive and ability to exclude outsiders (those without jobs).
The Social Security Act of 1935 excluded from coverage about half the workers in the American economy. Among the excluded groups were agricultural and domestic workers.
“When President Roosevelt make Social Security into a law, 65% of African American throughout the nation were ineligible and that percentage got even higher when looking at African Americans in the South.”
The Act provided for unemployment insurance, old-age insurance, and means-tested welfare programs. The only problem was that it didn’t include domestic workers and farm workers.
1996-1998
During the Bill Clinton era, the Digital Millennium Copyright Act (DMCA) was established. It implemented two 1996 treaties of the World Intellectual Property organization (WIPO) and basically takes the rights for use from individual creators and releases corporate responsibility of usage and sharing.
While this is not specifically a black or housing issue, it is the basic building up of corporate wealth (once again) and value while excluding Individual Creatives for monies due for usage of their products, as it allows corporations to use images and text without payment or penalty. Further, and now in the news, it releases social media giants of any responsibility of what they post on their platforms.
2007-2009
Prior to 2008 there was a flood of bad home loans funded in America. When the system started to fail (The Subprime Mortgage Crisis), unlike the formation of a bank that would have purchased these bad loans and reissue good loans, allowing people to stay in their homes, our government at this time gave the banks a massive bailout.
The Emergency Economic Stabilization Act of 2008, often called the “bank bailout of 2008,” was proposed by Treasury Secretary Henry Paulson, passed by the 110th United States Congress, and signed into law by President George W. Bush and put in no safeguards that the banks would have to issue good loans to people so that they could keep their homes. Instead, 8 Million Americans lost their homes. Also, at this time, homes were sold to corporate investors called “Vulture Capitalists.” Now with the homes as investments, they took loans out against them for other purchases and if money was tight, they just continued to raise the rents to all living in those homes to crazy high amounts.
It add insult to injury, if the home loan was too cheap, the bank would not lend to an individual because the bank wouldn’t make any money on interest. Instead, it benefitted the banks to bundle the homes and makes loans to corporation speculators. And in some areas of the country the loans are too expensive to an average family so they too cannot get a loan. Bottom line: Banks weren’t supporting the average person; they were only supporting corporations and thus themselves.
It was the Obama Administration in 2009-10 who made the decision to bundle these bad home loans, 1000 at a time, and sell them off to corporate interests. He likewise did not hold banks accountable for the majority of their bad behavior and fraud committed during the housing crisis under President George W. Bush. It has been said, that “Obama’s meaning to black America looms large. But that achievement must contend with Obama’s culpability for the greatest disintegration of black wealth in recent memory.” Some calling it “an extinction event for the black and Latino middle class.”
There are cracks in the foundation of our housing system
2020
Now we are at a turning point in our history.
We know things; we cannot stay silent. We must be heard.
1/10 of 1% hold as much wealth in America as 90% of the population.
There is a HUGE Equality Divide with class; wealth; and privilege.
Police are responsible for many unwarranted black deaths.
People are subjected to poor living conditions thus resulting in more police stress as well as those living there being under duress.
Our leaders (government, corporate, etc.) must be held accountable and must change.