Establishing a methodology to compute the amount of the payment is relatively easy if the intent is to close the wealth gap; this information is readily available from public sources. But the ultimate decision would be political. Three questions would be pertinent:
- Would it actually do much good?
- Would it bring closure to the issue?
- Can we afford it?
So what is an appropriate number? We could clearly afford $1,000 per household, based on the most recent stimulus payment, but it wouldn’t be nearly enough to close the gap, and it wouldn’t put an end to the issue. $5,000–same thing. $10,000? Now we’re talking about an enormous hit to the budget, but it still wouldn’t be enough for a black family to buy a car, let alone put the issue to bed. No, based on the numbers I have seen, the payment would have to be at least $50,000. The budgetary implications of that would be immense.
From my perspective, putting this kind of money into social programs that are race-blind on their face, but disproportionately help black people, would make a lot more sense.