Property taxes, the lifeblood of local governments and school districts, are among the most powerful and stealthy engines of racism and wealth inequality our nation has ever produced. And while the Biden administration has offered many solutions for making the tax code fairer, it has yet to effectively tackle a problem that has resulted not only in the extraordinary overtaxation of Black and Latino homeowners but also in the worsening of disparities between wealthy and poorer communities. Fixing these problems requires nothing short of a fundamental re-examination of how taxes are distributed.

In theory, the property tax would seem to be an eminently fair one: The higher the value of your property, the more you pay. The problem with this system is that the tax is administered by local officials who enjoy a remarkable degree of autonomy and that tax rates are typically based on the collective wealth of a given community. This results in wealthy communities enjoying lower effective tax rates while generating more tax revenues; at the same time, poorer ones are forced to tax property at higher effective rates while generating less in return. As such, property assessments have been manipulated throughout our nation’s history to ensure that valuable property is taxed the least relative to its worth and that the wealthiest places will always have more resources than poorer ones.

Black people have paid the heaviest cost. Since they began acquiring property after emancipation, African Americans have been overtaxed by local governments. By the early 1900s, an acre of Black-owned land was valued, for tax purposes, higher than an acre of white-owned land in most of Virginia’s counties, according to my calculations, despite being worth about half as much. And for all the taxes Black people paid, they got little to nothing in return. Where Black neighborhoods began, paved streets, sidewalks and water and sewer lines often ended. Black taxpayers helped to pay for the better-resourced schools white children attended. Even as white supremacists treated “colored” schools as another of the white man’s burdens, the truth was that throughout the Jim Crow era, Black taxpayers subsidized white education.

Freedom from these kleptocratic regimes drove millions of African Americans to move to Northern and Midwestern states in the Great Migration from 1915 to 1970, but they were unable to escape racist assessments, which encompassed both the undervaluation of their property for sales purposes and the overvaluation of their property for taxation purposes. During those years, the nation’s real estate industry made white-owned property in white neighborhoods worth more because it was white. Since local tax revenue was tied to local real estate markets, newly formed suburbs had a fiscal incentive to exclude Black people, and cities had even more reason to keep Black people confined to urban ghettos.

And what better way to pay for the program than to tap our wealthiest, who have benefited from our unjust taxation scheme for so long? President Biden is calling for a 25 percent tax on the incomes and annual increases in the values of the holdings of people claiming more than $100 million in assets, but we could accomplish far more by enacting a wealth tax on the 1 percent. Even a modest 4 percent wealth tax on people whose total assets exceed $50 million could generate upward of $400 billion in additional annual revenue, which should be more than enough to ensure that the needs of every city, county and public school system in America are met. By ensuring that localities have the resources they need, we can counteract the unequal outcomes and rank injustices that our current system generates.

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posted by f.sheikh

John Locke, the founding father of modern democracy based on principles of humanity, wrote that all individuals are born with “inalienable right of life, liberty, and property.” These sacred inalienable rights are universal which ought to be respected and protected by everyone. These rights and principles of humanity are backbone of our democracy and undermining them undermines the soul of democracy.

Democracy without principles of humanity is nothing more than a shell democracy carrying out charade of elections.

Biden is a willing accomplice of Netanyahu in crimes against humanity by continuing to supply mass civilian killing bombs to Israel despite 33,000 deaths of innocent Gazans, imminent danger of famine, and Israel facing Genocide charges at ICJ. Biden has not only undermined bedrock principles humanity and our modern democracy, but also our national core values.

Vote for Biden is not a vote for Democracy unless one happens to believe that the basic foundations of our modern democracy and humanity, such as human rights, liberty, and Justice, are no longer relevant. Or one believes that Palestinians have no such rights.

Biden is at least as much threat to our democracy as Trump. Fortunately, our democratic institutions, especially judiciary, are strong enough to withstand any dictatorial assault on our democracy as they did during Trump’s last term and will do so again if Trump is re-elected. But unfortunately, our democratic institutions are not equipped to foil assault by Biden on our principles of humanity, which are foundations of our modern democracy as envisioned by John Locke. It also undermines our credibility as well as our national interests in the world. Such a damage is hard to repair.

(Very insightful analysis what poor nations need to do in the technologic world to improve their economy as old recipe of developing manufacturing sector may not work.)

Some excerpts; “The recipe — customized in varying ways by Hong Kong, Singapore, South Korea, Taiwan and China — has produced the most potent engine the world has ever known for generating economic growth. It has helped lift hundreds of millions of people out of poverty, create jobs and raise standards of living.”

“But technology is advancing, supply chains are shifting, and political tensions are reshaping trade patterns. And with that, doubts are growing about whether industrialization can still deliver the miracle growth it once did. For developing countries, which contain 85 percent of the globe’s population — 6.8 billion people — the implications are profound. Today, manufacturing accounts for a smaller share of the world’s output, and China already does more than a third of it. At the same time, more emerging countries are selling inexpensive goods abroad, increasing competition. There are not as many gains to be squeezed out: Not everyone can be a net exporter or offer the world’s lowest wages and overhead.

There are doubts that industrialization can create the game-changing benefits it did in the past. Factories today tend to rely more on automated technology and less on cheapworkers who have little training.

“You cannot generate enough jobs for the vast majority of workers who are not very educated,” said Dani Rodrik, a leading development economist at Harvard.

The process can be seen in Bangladesh, which the World Bank’s managing director called “one of the world’s greatest development stories” last year. The country built its success on turning farmers into textile workers.

Last year, though, Rubana Huq, chair of Mohammadi Group, a family-owned conglomerate, replaced 3,000 employees with automated jacquard machines to do complex weaving patterns.

The women found similar jobs elsewhere in the company. “But what follows when this happens on a large scale?” asked Ms. Huq, who is also president of the Bangladesh Garment Manufacturers and Exporters Association.

These workers don’t have training, she said. “They’re not going to turn into coders overnight.”

Recent global developments have accelerated the transition.”

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posted by f.sheikh