CA Think Fair Act Coalition (after the California legislation is passed, the California Think Fair Act Coalition will become the new Federal Think Fair Act Coalition)
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Will this bankrupt the Californian economy: No
Will this public policy help stabilize or jump start the California economy: Yes
What is California's yearly GDP estimate: California had a GDP of 3.09 trillion dollars in 2020
What is California's estimated GDP over the next 50 years: More than 154.5 trillion.
What is the total cash owed by state of California to ADOS families due to racial prejudice policies: 6.163 Trillion dollars
Does California have the GDP necessary to pay this debt: Yes
What additional resources do California have not included in the above calculations: state land, state mineral right options
Does California have enough wealth to pay 100% of the harmed/injury debts over time: Yes
How does this grow the economy: Example 1: Its forecasted one impact of paying the debt will be an increase in California home purchasing. This would lead to more consumption as reparations recipients live their best lives. This would in theory circulate money, and impact sales quantities at other businesses, and therefore stabilize or grow the economy.
What commercial lobbying firm is backing this proposal: DavenportLawLobbying.com
Does the policy design have high risk of bankrupting the California: No
What is the cash disbursement design: Jumpstart and staggered direct cash compensations How are they designed: to mitigate budget concerns.
Who pays for this: State of California
What portions of income tax will be used to pay for this: revenues previously collected from tax bracket: 12.3% +, $599,013 or more
Impact on average for all California taxpayers: When there is more wealth spread out into more taxpayer households, the individual tax burden tends to go down. If all tax laws stayed the same this policy would reduce the aggregated tax burden of California taxpayers. Note: Tax law changes are an "x" factor which could impact tax burden forecast.
Jump start payout: $2.1 million
Total harm and injury amount owed, owed per person: $2.4 million
Who calculated the debt owed: DavenportLawLobbying.com
How was it calculated: The $800,000.00 per person from Dr. Darity + the $1,600,00.00 per DavenportLawLobbying.com. The $800,000.00 per person total is harm/injury as a result of California policies causing the wealth gap. The $1,600,000.00 per person total is harm/injury as a result of California policies causing trauma measured by the Davenport Intergenerational Trauma Syndrome Scale (DITSS.)
How will current living harmed/injured US taxpayer dependents be paid: direct cash payments
Term of programs: > All debts should be paid over 60 years, based on the longest payout program available
What is payout Chapter A: Jumpstart, followed by 30 years of 10K a year payments.
What is payout Chapter B : No jumpstart, 60 years of 10K payments, followed by your jumpstart total at the end. The total direct cash compensation payout for Chapter B is: $3,000,000. Note: This is a deferred payout plan which helps mitigates California budget concerns over the next decades, and incentivizes delay for those who opt for chapter B.
What is payout C: No Jump start (2,400,000 / 18 equals = $133,333.33 per year.) No more than 33% of this can be spent per year by parents. After the 17 year old child entitlement recipient turns 18, they take control of their money. They are also eligible to choose any chapter option available to them at that time. Note: This is a child protection payout plan which helps mitigates the chances of parents being wasteful with children's reparations entitlements.
Are children eligible to apply: Yes
Are there stipulations on spending of children's money: (up for determination and public commenting)
What California office will handle payments: California Department of Justice
What is the lifecycle of the legislative impact: (up for determination and public commenting)
Section A. Who is eligible and who qualifies for reparations for unfair California policies injuring ADOS?
Must check See the Kirsten Mullen and Dr. William Sandy Darity Jr. qualifications in 'From Here to Equality ' See the DavenportLawLobbying.com qualifications for the trauma injury/harm cash payments.
Section B. What is mandatory?
Section B.1 How many parts are included in the DavenportLawLobbying.com calculation of harm/injury?
Wealth disparity (Kirsten Mullen and Dr. William Sandy Darity)
Trauma injury/harm (DavenportLawLobbying.com)
Section C. What else could be included?