Bailouts: Racism and Classism in a Billion Dollar Package

Source: Center for a Stateless Society
by CK Charlie

“The New York Times recently published an article mentioning the failures of the government’s Paycheck Protection Program (PPP), a COVID-relief program meant to keep businesses afloat and people employed. The article noted that the PPP was not distributed fairly, with the lion’s share of funds going to [w]hite-owned businesses, while minorities got less. Coupled with the widely acknowledged fact that the COVID-relief programs benefited large companies far more than smaller ones, and we come to the reality that the relief programs were mostly a forced redistribution of wealth upwards — the lower classes and minorities were taxed, and those taxes went to fund megacorporations, the wealthy, and [w]hites.” [editor’s note: Was the “white” share disproportionate, or just larger because “whites” constitute a larger portion of the population than any other single group? – TLK] (07/14/21)