In a stunning display of the unpredictable, President Donald Trump signed an executive order aimed at revitalizing distressed urban areas. Suddenly, a very small sector of Black Conservatives have been crowing with pride and righteous vindication over the President’s interest in the hood. It appears that it’s a package that is astutely budgeted out of Trump’s Tax Cut Proposal known as Opportunity Zones.
If this seems confusing, it is because it is. It seems that after decades of the ideology of rugged individualism, supply side economics, and proclamations on the virtue of small government, Black Conservatives have become the new liberals. They are on fire with a new flame as they herald the arrival of what they envision as a new era in Black Politics.
The executive order created the Opportunity and Revitalization Council, which will be led by, Black Conservative, Housing and Urban Development Secretary Ben Carson. President Trump maintains that the council will utilize government resources to rebuild destitute neighborhoods in Urban America. Under Trump’s plan, investors will receive capital-gains tax breaks if they invest in distressed areas certified by the Treasury Department. The question is what will be their investment? A factory? A tech firm? A shopping center? Will these investments bring jobs with a living wage?
An estimated 35 million people (black) live in the opportunity zones. Treasury Secretary Steven Mnuchin has gone on record stating that he expects that there will be about $100 billion in private capital invested in these zones. How much of those projected private capital investments will be used to create an independent infrastructure in the black community has yet to be determined. After decades of governmental neglect it seems a little too good to be true that big daddy government is just gonna ride to the rescue after its’ sinister policies like: the war on drugs, urban renewal and mass incarceration.
I’d be lying if I didn’t say that I am not skeptical about the outcome of this program. There are simply too many unexplained variables as to how this program will benefit Black America in the long run. It is implied that there will be a gravy train filled with biscuits. My common sense tells me that though there may be short term gains, these gains will end up costing Black America a lot more than what the administration is willing to admit.
This urban horse is coming to Black America gift wrapped with tax cuts that will rain a windfall of massive profits for the private sector. Basic macroeconomics dictates that these tax cuts will have to be paid for. How this will happen has also not been explained. The old dutch proverb that “promises make debt, while debt makes promises” seems apropos for this legislation. Politicians have built their careers on giving Black America the minimum at best, and nothing at worst.
The Trojans were completely comforted with the display of Greek generosity. Their naive’ belief that their adversaries would shower them with undeserved accolades dulled their senses to the inevitable. Up until legions of Greek soldiers burst forth from a facade of Trojan diplomacy, Troy was jubilant in what they thought was going to be a new day for Greek-Trojan Relations. The facade was violently shattered when the Trojans were impaled at the tip of Greece’s imperial ambitions. As this program rolls into black America covered in tax cuts for the wealthy, it would be prudent for Black America to learn from Troy’s misfortune if it intends to survive the replay of its’ pre-written fate.
TONY MACEO is a senior blogger at the Negromanosphere and the Chief Blogger at Power & Strategy.com. Please like and share this article, and subscribe to the website. Support by paypal @email@example.com or become a Patron @powerofstrategies on Patreon. TILL NEXT TIME, I’LL HOLLA!