According to Mullen, the federal government “turned a blind eye to the damage of black people’s property and participated in suppressing the black vote.”
“The only institution with the ability to pay the loan is the federal government,” Mullen threw in.
Economics professor Darity said that tax increases would not be required to cover the costs, citing COVID-19 spending, which reached $4.6 trillion, according to a government agency that keeps track of expenditures.
Darity added, “You do have to be worried about the inflationary impacts of such sorts of initiatives. You don’t necessarily have to raise taxes to conduct these large expenditure programs.”
The restitution payments might be spaced out over “a few years” but “no more than 10 years,” according to Darity, which would lessen the yearly expenditures and the danger of inflation from the payments. The professor also proposed that the payments may be provided through assets or a trust fund, where each beneficiary would only have access to a fixed amount of money each year.
But in his view, there shouldn’t be any restrictions on how the money is used. “The receiver must have the last say in how the money is used,” according to Darity.
The W.K. Kellogg Foundation, established by the founder of the cereal brand Kellogg’s, sponsored the CNBC episode on segregation.
The W.K. Kellogg Foundation lists the following as its mission: “The W.K. Kellogg Foundation supports children, families, and communities as they enhance and create the conditions that help push vulnerable kids to achieve success as individual people and also as contributors towards the larger community and society.” The topic of the segment seems to fall outside of this mandate.
The foundation “envisions a society that harnesses its resources to insure that all children have an equal and hopeful future — a country in which all children thrive,” according to its mission statement.