THE BLACK TAX, THE INCREMENTAL
COST OF BEING BLACK IN AMERICA, CREATES A MASSIVE FINANCIAL BURDEN
ON BLACK AMERICAN HOUSEHOLDS
THAT DRAMATICALLY REDUCES
OUR ABILITY TO LEAVE A SUBSTANTIAL LEGACY FOR FUTURE GENERATIONS.
This tax greatly reduces Black people’s ability to invest in new business development, education, housing, employment and other activities that lead to wealth accumulation. Through a strategic partnership with Shawn Rochester; BBEC seeks to bring awareness to this 'Black Tax’ that Black people are subjected to and unknowingly paying.
Shawn in his ground-breaking book— The Black Tax, continues the tradition of the Nation of Islam and Garvey’s UNIA with his PHD strategy. PHD is an acronym for Purchase, Hire, and Deposit. Rigorous purchasing, hiring, and depositing within the Black community on consumer, corporate, and public-sector levels are crucial to the Black community’s economic survival.
Public and private entities interested in the economic development of the Black community must have, as a core part of their strategy, a focus on purchasing products and services from Black enterprises, hiring Black people into well-paying jobs, and depositing funds in Black financial institutions.
A focus on PHD addresses the pervasive and devastating problem of Black people continually spending and depositing 98% of our resources outside of Black-owned business and financial enterprises. This persistent outflow of funds undermines financial and political independence by impeding local employment, entrepreneurship and home ownership. Instead, Black dollars must remain within the Black community to generate independent, self-sustaining revenue streams within the Black community.
Reducing the impact of the Black Tax and creating an environment that will facilitate the closing of the 6 million jobs gap and 1.4 million businesses gap in the Black community and $8 trillion of missing net worth, requires a foundation based on economic development and employment driven by the concept of "getting" your PHD. Getting your PHD is about facilitating trade and commerce with Black employees, businesses, and financial institutions to create a solid foundation for wealth accumulation in the Black community.
COST OF THE BLACK TAX
TO BLACK AMERICA
Data Source: The Black Tax by Shawn Rochester
Present value of
Black Labor in 1860
Great Economic Expansion
$317 billion per year- current cost of lost equity value.
$20 billion per year- current cost of 350,000 missing Black teachers.
$30 billion per year-current lost income from Black prison population.
$80 billion per year-persistent six-decade Black/White employment gap.
$72 billion to $93 billion lost in 2005 to foreclosures from discriminatory subprime lending.
$94 billion to $123 billion-cost of work place discrimination in 1970.
Post Civil Rights Era
60 yrs. of B/W Employment Gap
Missing Inter-generational Inheritance
Please secure a copy of Shawn's book and read it cover to cover.
We promise you, it will be one of the best investments in
time and money you will ever make!