(ThyBlackMan.com) If the above title sounds incredible to you, that is, the goal of Economic Inclusiveness, which means economic advancement for Black America, is doable right now, then think about the obvious, which is right before your eyes. The obvious is, and everyone should understand this, if there is no agreement, as to what the economic policies of the Democratic Party should be, everyone, including Black Americans, have an opportunity to weigh in (take action) and shape those policies.
Nancy Pelosi, in a recent interview with Bloomberg News, feels Democrats running for president are sending the wrong message. When you look at the indecisiveness of potential Democratic and Independent voters, according to polls, many of them, who are in the undecided column maybe agreeing with her analysis. The recent job report, from the Bureau of Labor Statistics (BLS) indicating 128,000 jobs were created in October, is indicative of a slowing economy.
The U.S. economy is continuing to produce weak job numbers, under the Trump presidency, and a RECESSION is now being predicted in 2020. No one knows how deep it will be. Your guess is as good, as any expert. Additionally, wages are flat and our GDP (gross domestic product) clocked in for the third quarter ending in September at 1.9% growth. GDP is a measurement of how healthy, and how well the economy is doing. Any number below 3.0% GDP is a failing grade.
In the face of a slowing economy, Democratic presidential front runners are presenting, a $20 to $30 trillion Medicare for all health care plan (depending on which candidate), when building on Obama’s Affordable Care Act, might be a better option, for now. When you look at the Green New Deal, it lacks specifics in regards to what kind of jobs will be created that will sustain economic growth; how those jobs will be financed; and where those jobs will be and their number. It’s not, as if there are tangible Green New Deal job projects popping up across the nation. The average American is not fully convinced in a slowing economy, these yet unseen jobs will materialize, as fast as the advocates say they will.
Nevertheless, when it comes to the direction of the economy, it can not be said, black people do not have a seat at the table, during this election cycle, where such discussions are taking place. You have two black senators in the race for the presidency; Cory Booker and Kamala Harris. Additionally, there is President Obama, who has tremendous influence, as the former President of the United States, and who is technically the head of the Democratic Party.
But, the two black presidential candidates are parroting the same message, as the front runners. Political strategists, are saying, costly plans, which do not have a chance to pass in Congress will not win over voters, in states like Michigan, Wisconsin, Pennsylvania and Ohio. It is important for Democrats to win the electoral votes in these states. These are states, that have been gutted of good paying jobs, due to wrong headed trading policies, when it comes to China (https://thyblackman.com/2019/09/03/what-you-need-to-know-about-the-trade-war-and-the-label-made-in-africa/).
With a looming recession on the horizon, blacks and working class whites, have the same issues in common; job security, money and the high cost of health care, with money being the overriding issue. The Democratic presidential front runners refuse to acknowledge this, however blacks can change that, if they were so inclined.
You see, a 10% consumer tax cut is doable, which would also include blacks, as beneficiaries. Baby Boomers, whose numbers include an equitable number of the black population, are retiring at a rate of 10,000 per day. If you hand these retirees a 10% tax cut, which would approximate $25,000.00 in cash, being put directly into their hands, you could grow the economy, which of course solves the recession issue.
Where the Trump tax cut fail, to stimulate growth, the Baby Boomers’ tax cut will succeed. A Boomer tax cut would be more robust, simply because the tax cut will go directly to the consumer and consumer spending accounts for 70% of the U.S. economy. Economic growth is driven by consumer spending. If money is given to the consumer, it will be spent. U.S. businesses and corporations, will be forced to address the boost in spending for products and services; growing the economy.
Here is the math, if you doubt this is possible. 10,000 Boomers per day RETIRING times $25,410 = $254,100,000.00. 365 days times $254,100,000.00 = $92,746,500,000.00, annually. 10 years times $92,746,500,000.00 = $927.5 billion over 10 years. The Boomer tax cut is not as much as the Trump $1.5 trillion, 10 year tax cut, which awarded America, with no long term economic growth.
Baby Boomers are those Americans born after 1946, up to 1964. Whyuse Baby Boomers as the core of this tax plan? Boomers have parents and children, and grand children, who are most affected, when it comes to income inequality. Thus, by targeting Baby Boomers this way, you touch almost the entire, 327 million American population.
Actual details of how to do the tax cut and much more, is laid out in the book, “The Fix This Time @https://www.amazon.com/dp/B00MI3PD2M.
Economic Inclusiveness, requires we take action (no one is going to do it for you) and use our seat at the table for more than observation, which appears to be our prevailing position. Why not use that seat to shape economic policies, similar to what Dr. Martin Luther King did, when it came to political policies in the 1960’s? Ideas matter; TheFixThisTime.com.
Staff Writer; James Davis
Mr. Davis is a leading expert and consultant in Financial Analysis and Social Dynamics. He is a graduate of Florida A. and M. University (FAMU), a former stockbroker, and a human rights activist who resides in Sanford, Florida. He was awarded the prestigious Governor Haydon Burns Scholarship to attend FAMU and while at FAMU was awarded the first Martin Luther King Scholarship. He is the author of three books, among them is “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M).
Mr. Davis can be reached through his blog @ https://thefixthistime.com.