Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

New York Times Publishes Democrats Economic Manifesto Calling for Reparations

New York Times Publishes Democrats Economic Manifesto Calling for Reparations

The New York Times devoted its entire “Sunday Review” section this weekend to an economic manifesto that lays out a left-wing vision for redesigning the American economy in the wake of the coronavirus pandemic. The Times focuses on redressing economic inequality as the main challenge - not economic growth, or job creation.

The lead editorial, among other ideas, calls for the Federal Reserve to target black unemployment instead of overall unemployment: “Instead of targeting overall unemployment, the Fed can correct its aim by targeting the Black unemployment rate. If the Fed provides enough stimulus to bring down Black unemployment, everyone benefits.”

Other economic proposals in the manifesto include a plan for banks to pay reparations: “First, [banks] must apologize for their culpability for and complicity in structural racism. Next, they must commit to serving black people as they do whites.” Four additional steps are proposed: “Cancel consumer debt for black customers”; “Eliminate banking fees for black customers”; “Provide interest-free mortgages to black home buyers”; “Provide interest-free loans to black-owned businesses.”

Another proposal calls for raising the inheritance tax — what Republicans call the “death tax,” because it is payable by the deceased (or their estates):

There are plenty of sensible options for increasing taxes on inheritances. Returning the estate tax to its 2009 levels would raise $270 billion over the next decade. Further increasing the rate so that it rises to 65 percent on estates over $1 billion would raise an additional $100 billion.


An even better approach would be to replace the estate tax with an inheritance tax. Under an inheritance tax, heirs would simply pay income and payroll taxes on their inheritance above a large exemption, just as others do on their wages.

The manifesto also calls for a 28th Amendment to the Constitution to enshrine something called “voter equality,” which appears to mean a guarantee of high turnout among poorer voters. The amendment would grant “all adult citizens the right to vote in federal elections,” with no exceptions.

Another heartfelt essay calls on wealthy Americans to “give up your privilege.”

Prior to the coronavirus the U.S. economy was experiencing what President Donald Trump called a “blue-collar boom.” Minority unemployment was at the lowest levels in history. Wages for the lowest-paid workers were rising faster than wages for the highest earners. Inequality was in retreat, as economic growth created new opportunities, and the enforcement of immigration laws gave working-class Americans a chance to compete.







AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
Italy's PM Giorgia Meloni highlights record employment and economic growth
Chancellor Friedrich Merz Re-elected as CDU Leader, Opposes AfD Influence
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
Two teens arrested in France for alleged terror plot.
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Greek Prime Minister Kyriakos Mitsotakis advocates for a ban on minors using social media.
Meanwhile in Time Square, NYC One of the most famous landmarks
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Former President Yoon Suk Yeol Sentenced to Life in Prison for Abuse of Authority
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
German Chancellor Friedrich Merz calls for real name use on social media.
Italian Police Arrest Man After Alleged Attempt to Abduct Toddler at Bergamo Supermarket, Child Hospitalised With Fractured Femur
British Tourist Arrested at Hong Kong Airport After Meltdown and Vandalism
European Commission Plans Purchase Incentives Limited to Vehicles Manufactured Largely in the EU
French District of Pas-de-Calais Introduces Immediate License Suspension for Drivers Using Mobile Phones
Volkswagen Targets €60 Billion in Cost Reductions as Sales Decline and Global Pressures Intensify
Eighty-Year-Old Lottery Winner Sentenced to 16.5 Years for Drug Trafficking
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Poland's President Advocates for Evaluating Independent Nuclear Weapons Development
Mayor of Serdobsk in Russia’s Penza Region Resigns After Housing Certificates Granted to Migrant Family Trigger Public Outcry
China’s EV Makers Face Mandatory Return to Physical Buttons and Door Handles in Driver-Distraction Safety Overhaul
UK Green Party Considering Proposal to Legalize Heroin for an Inclusive Society
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
We will protect them from the digital Wild West.’ Another country will ban social media for under-16s
Heineken announces cut of 6,000 jobs due to declining beer demand
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
China unveils plans for a 'Death Star' capable of launching missile strikes from space
Investigation Launched at Winter Olympics Over Ski Jumpers Injecting Hyaluronic Acid
U.S. State Department Issues Urgent Travel Warning for Citizens to Leave Iran Immediately
Wall Street Erases All Gains of 2026; Bitcoin Plummets 14% to $63,000
Eighty-one-year-old man in the United States fatally shoots Uber driver after scam threat
Political Censorship: French Prosecutors Raid Musk’s X Offices in Paris
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
France Begins Phasing Out Zoom and Microsoft Teams to Advance Digital Sovereignty
Tech Market Shifts and AI Investment Surge Drive Global Innovation and Layoffs
Global Shifts in War, Trade, Energy and Security Mark Major International Developments
Markets Jolt as AI Spending, US Policy Shifts, and Global Security Moves Drive New Volatility
Tesla Ends Model S and X Production and Sends $2 Billion to xAI as 2025 Revenue Declines
Starmer Signals UK Push for a More ‘Sophisticated’ Relationship With China in Talks With Xi
×