A forgivable loan is essentially a “grant” with conditions rather than a loan. I personally would call it a non-repayable loan.
Kamala Harris has proposed a $20,000 forgivable business loan to black entrepreneurs. Then I start to think.
Suppose a black guy starts to sell lemonade on the street corner for 50 cents a cup and is he entitled to this forgivable loan?
How black is black to give this forgivable loan? 100% black, 50% black, or 2% black because one has 2% black in his DNA?
The total population of blacks in USA is 15%. The balance of 85% are Whites, Hispanic, Asian, and others. Where is she getting this money to pay forgivable loans to blacks? From the 85% non-black people?
At least, she could have offered this to all poor people who wants to start a business,
Assuming Kamala Harris wins this election, can she really give such forgivable loans to blacks? There will be hundreds of law suits that would end up in the Supreme Court. Remember, of the 9 Supreme Court judges, 6 of them are conservatives. In other words, Trump supporters.
I think Kamala is offering these incentives to buy the black votes fully knowing that this cannot be implemented.
US Constitution clearly states that you can't discriminate anyone based on nationality, color, religion, sex etc. As a presidential candidate, being a lawyer how can she offer this incentive to one set of people in the society?
ReplyDeleteThanks for your comments seema. This is a bribe offer to buy black votes.
DeleteIf Kamala Harris giving forgivable loan to blacks means it does not fall under "DISCRIMINATION" because one black is giving to another black. If you and I talk about something like this then it is definitely discrimination. But is She going to pay from her personal Account??
ReplyDeleteThanks for your comments Anonymous. This is just to woo the black voters. She knows she cannot implement this.
DeleteI think all black people would want to become entrepreneurs - at least temporarily ;)
ReplyDeleteThanks for your comments Rajesh, That's a good one.
DeletePerhaps the justification for such an advance arose out of a need to correct historical injustices and economic inequalities to an affected and disadvantaged section of citizens. However, it could be perceived as discriminatory if it is addressed to one racial group and runs the risk of alienating other groups in similar economic situations.
ReplyDeleteI have not seen the news item and go by your post. It seems an election promise showing concern for a class of people. Any such plan when it comes for approval in the legislature would be examined on the touchstone of its fairness, inclusivity and removal of economic disparities.
Thanks for your comments Mr. KP.
DeleteHow long the black people are going to cry for the injustice happened to them few decades ago? Now every black owns Tesla or BMW or Jaguar etc. The are all at Manager Level in an office. Moreover, everywhere you go, we can see black in government offices like SS office, county office, shops like Walmart, Costco, Best buy etc. They do have latest phone. They do buy daily Pizza, Burger and carry 20 oz. Coke. They enjoy their life to the fullest. only poor Asians and that too Indians are the one hard working in USA with no such properties. Moreover carrying lunch box with Curd rice or lemon rice or Sooka roti and subji to work.
ReplyDeleteThanks for your comments Anonymous. I agree that many blacks are well off and affluent. But I beg to differ with your comment on Asians and Indians. US Median household income is $69K. Asian is $97K. Indian is $138K. If they take curd rice and suka roti and subji to work to eat for lunch, it is their eating habit.
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