Election 2020

Biden Unveils Plan to Fight Racial Inequality

AP Photo/Andrew Harnik

If there was a Hall of Fame for political pandering, Joe Biden would be a sure-fire first-ballot winner.

American politics has never seen the like. Any group of “special pleaders” holding out their hands for goodies from the government is being recognized and satisfied by Joe Biden’s relentless campaign to make everyone happy.

Yesterday, Biden released the final plank of his four-part plan to remake America into a Third-World country. This particular plank deals with closing the racial wealth gap and fixing racial inequality. Other planks have dealt with rebuilding the economy and “buying American.”

But can you really change the culture by throwing money at it? If Biden is elected, I guess we’ll find out.

Fox News:

“To address the racial wealth gap, the opportunity gap, and the jobs gap for Black and Brown people, Biden will launch a historic effort to empower small business creation and expansion in economically disadvantaged areas,” states a Biden campaign document released ahead of the former vice president’s address.

Oh, you mean like the “Enterprise Zones” that Republicans have been pushing since Reagan? What a great idea!

“Black and Latino people have been three times as likely to be infected — and two times as likely to die from the virus as white people,” Biden will say in his speech, according to excerpts released by his campaign.

“Nearly 18 Million people are out of work. Black unemployment is at 15%, Latino employment is at 14.5%. Over 40% of black-owned businesses — 440,000 in total reportedly had to shut down,” Biden will stress.

Obviously, this is a racist disease. If blacks and Latinos are getting sick more than whites, the bug must have it in for them because of the color of their skin. It can’t possibly be any other reason than it’s a racist virus.

And Biden is going to fix that.

Biden’s plan, details of which were released earlier in the day by his campaign, calls for investing $150 billion of already allocated spending to help minority small-businesses owners. About one third of that amount would be public and private venture capital for Black and brown entrepreneurs, while the other $100 billion will be devoted to low-interest business loans for state, local, tribal and nonprofit lending for community members.

The campaign also proposed setting a new goal of spending 15 percent of federal procurement on small disadvantaged businesses, primarily for Black- and brown-owned ones.

There’s also a $15,000 credit for first-time homebuyers and the new president would change the mission of the Federal Reserve.

Aides said if elected, Biden would propose a bill that would broaden the current mandate of the central bank to contain inflation and maintain full employment to also include having the Fed to use its powers to close “racial economic gaps.”

As you might expect, activists want more…and more and more and more.

AP:

Maurice Mitchell, a prominent figure in the Movement for Black Lives and national director of the Working Families Party, said there are some “promising items” in Biden’s proposals, but added, “There’s more we need.” Looking beyond the campaign, Mitchell said, “It’s not a matter of what’s in Biden’s platform.” Instead, he said, “The power of the movement in the streets will dictate the results of a Biden administration. Fortunately, the movement for racial justice has never been stronger.”

Note well, what Mr. Mitchell is saying. “The power of the movement in the streets will dictate the results of a Biden administration.” The more we riot, the more we threaten, the more of our hoops Biden will be jumping through. It’s that simple.

In truth, all of this is a drop in the bucket. Racial income inequality will not be adequately addressed by waving a magic wand and declaring the problem one of dollars and cents. These are cultural issues that the government is ill-equipped to handle.

It’s a shame we have to spend ourselves into penury to find that out.