by Wally Linder, retired railway worker and organizer, June 22, 2020
The financial foundation of U.S. capitalism is racism. It is the source of some $500 BILLIONS (half trillion dollars) in super-profits. That is the difference between the household income of white and Black families and the basis for the oppression of Black workers in all spheres of life.
According to the U.S. Census Bureau (2019 figures), there were 17 million Black households in the U.S. The median income of those families was $41,361. The median household income of white families was $70,642. If the bosses paid the Black families the same as white families, an additional $29,281 each, they would have to fork over an additional $497 BILLION, 17 million families multiplied by $29,281 each. This would reduce the bosses’ profits by HALF TRILLION dollars.Continue reading “Racism Makes HALF TRILLION Dollar$ in Super-Profits for Capitalists: an Un(der)told Story”