Corporate Social Justice Programs Don't Work
According to a new report from The Washington Post, America's corporations have committed "at least" $49.5 billion to the cause of "racial justice" since the George Floyd murder last year riveted our national attention on race.
This amounts to a little over $1,100 for every Black man, woman and child in America.
Or, from another perspective, about $16,500 for every Black household earning $25,000 or less.
But we're not talking about corporate America, despite their deep concern for racial justice, just simply giving black Americans cash. As much as they undoubtedly care about these Black citizens, they would never trust them to just take the money and spend properly.
These corporate executives nationwide have concluded that they can justify taking a huge chunk of their shareholders' funds -- an amount equal to the entire economy of the state of Alaska -- and spend it in a way that will produce more racial justice.
It is reasonable to ask why they believe they can achieve this.
It goes against all experience we have had with government.
The federal government has been spending trillions since the war on poverty began in the 1960s -- $20 trillion, by some estimates -- and the incidence of poverty over these years has hardly budged.
Apparently, these corporate executives feel they have some insight that has eluded politicians all these years.
A large percentage of these funds is earmarked for loans and investments in housing and business loans.