London Daily

Focus on the big picture.
Thursday, Sep 04, 2025

New York Times Publishes Democrats Economic Manifesto Calling for Reparations

New York Times Publishes Democrats Economic Manifesto Calling for Reparations

The New York Times devoted its entire “Sunday Review” section this weekend to an economic manifesto that lays out a left-wing vision for redesigning the American economy in the wake of the coronavirus pandemic. The Times focuses on redressing economic inequality as the main challenge - not economic growth, or job creation.

The lead editorial, among other ideas, calls for the Federal Reserve to target black unemployment instead of overall unemployment: “Instead of targeting overall unemployment, the Fed can correct its aim by targeting the Black unemployment rate. If the Fed provides enough stimulus to bring down Black unemployment, everyone benefits.”

Other economic proposals in the manifesto include a plan for banks to pay reparations: “First, [banks] must apologize for their culpability for and complicity in structural racism. Next, they must commit to serving black people as they do whites.” Four additional steps are proposed: “Cancel consumer debt for black customers”; “Eliminate banking fees for black customers”; “Provide interest-free mortgages to black home buyers”; “Provide interest-free loans to black-owned businesses.”

Another proposal calls for raising the inheritance tax — what Republicans call the “death tax,” because it is payable by the deceased (or their estates):

There are plenty of sensible options for increasing taxes on inheritances. Returning the estate tax to its 2009 levels would raise $270 billion over the next decade. Further increasing the rate so that it rises to 65 percent on estates over $1 billion would raise an additional $100 billion.


An even better approach would be to replace the estate tax with an inheritance tax. Under an inheritance tax, heirs would simply pay income and payroll taxes on their inheritance above a large exemption, just as others do on their wages.

The manifesto also calls for a 28th Amendment to the Constitution to enshrine something called “voter equality,” which appears to mean a guarantee of high turnout among poorer voters. The amendment would grant “all adult citizens the right to vote in federal elections,” with no exceptions.

Another heartfelt essay calls on wealthy Americans to “give up your privilege.”

Prior to the coronavirus the U.S. economy was experiencing what President Donald Trump called a “blue-collar boom.” Minority unemployment was at the lowest levels in history. Wages for the lowest-paid workers were rising faster than wages for the highest earners. Inequality was in retreat, as economic growth created new opportunities, and the enforcement of immigration laws gave working-class Americans a chance to compete.







Newsletter

Related Articles

0:00
0:00
Close
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Pickles are the latest craze among Generation Z in the United States.
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
WhatsApp is rolling out a feature that looks a lot like Telegram.
Investigations Reveal Rise in ‘Sex-for-Rent’ Listings Across Canada Exploiting Vulnerable Tenants
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
×