Economic policies have a significant impact on communities, and unfortunately, the Black community, like other marginalized communities, has historically been disadvantaged by policies that favor the wealthy and powerful. In this blog, we will explore some of the economic policies that have impacted the Black community and contributed to economic inequality, as well as the importance of political engagement and advocacy in creating change.
One of the most significant economic policies that have contributed to economic inequality in the Black community is tax policy. Historically, tax policies have favored the wealthy and corporations at the expense of the middle and lower classes. For example, the Tax Cuts and Jobs Act of 2017, which was touted as a middle-class tax cut, disproportionately benefited the wealthy. According to the Tax Policy Center, the top 1% of earners received an average tax cut of over $50,000, while the bottom 20% received an average tax cut of just $60. This kind of tax policy perpetuates economic inequality by favoring the wealthy at the expense of the poor and middle classes.
Another economic policy that has disadvantaged the Black community is trade policy. The North American Free Trade Agreement (NAFTA) and other trade deals have led to the loss of jobs in industries that employed many Black workers, such as manufacturing. This loss of jobs has had a significant impact on the economic well-being of the Black community, as they have been disproportionately affected by the loss of employment opportunities.
A third economic policy that has disadvantaged the Black community is the lack of investment in education and job training programs. Education and job training programs are critical for providing individuals with the skills necessary to compete in the job market. Unfortunately, the Black community has historically been subject to disinvestment in these areas, which has contributed to higher rates of unemployment and economic inequality.
It is essential for the Black community to be a part of the political process and advocate for policies that benefit them. Political engagement and advocacy can create change by ensuring that policies are crafted with the needs and concerns of the Black community in mind. Other communities have successfully advocated for themselves and seen positive economic impacts as a result. For example, the LGBTQ+ community successfully lobbied for marriage equality, which had significant economic benefits, such as access to spousal benefits and tax benefits. Similarly, the Disability Rights movement successfully advocated for the Americans with Disabilities Act, which improved accessibility in the workplace and provided protections against discrimination.
In conclusion, the Black community, like other marginalized communities, has historically been disadvantaged by economic policies that favor the wealthy and powerful. Tax policy, trade policy, and lack of investment in education and job training programs are just a few examples of policies that have perpetuated economic inequality. However, political engagement and advocacy can create change and ensure that policies benefit all members of society, including the Black community. It is essential for the Black community to be a part of the political process and advocate for policies that benefit them, just as other communities have successfully done.
Additionally, there are many organizations and groups working to address economic inequality and advocate for policies that benefit the Black community. One such organization is The SOLUTION, which meets every 2nd Sunday of the month at 3pm at the Midtown TechHive in Cleveland, Ohio, to develop strategies to advocate for the Black community. This group is dedicated to creating change through political engagement and advocacy, and they are actively working to address the economic policies that have disadvantaged the Black community.
By joining organizations like The SOLUTION and engaging in the political process, the Black community can work towards creating a more just and equitable society. It is only through active participation and advocacy that real change can be made, and it is essential for all members of society to come together to address the economic policies that perpetuate inequality.