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Simply put, America was built on racism. Without addressing the institutional systems of oppression present in American society, closing the racial wealth gap is impossible. 

We need reparations. In addition to direct monetary reparations, we need an overhaul of how this country addresses de facto and de jure discrimination.

The racial wealth gap in the United States continues to expand as wages remain stagnant. White families earn almost ten times more than Black families. History has not created a foundation for Black families for the future. Families should be able to live in a worry-free world, where they can own homes, be debt free, and not have to worry about healthcare or finding a job.

Shan believes in introducing legislation that will create a Baby Bonds program coined by Economist, William Darity, to help close the racial wealth gap. Every child in the United States will be assigned a trust fund through public resources depending on the wealth of the family. Every child can access their trust fund when they reach their young adulthood years which will help them start with financial endowment permitting them to have greater economic security over their lifetimes.

We must also prioritize access for Black Americans to fully-funding or subsidized Black institutions such as Historically Black Colleges & Universities (HBCU), Community Banks, and Black Owned Businesses, central to addressing the racial wealth gap, institutional oppression, educational inequities and discriminatory policies. 

 

Systemic and institutional racism affects all people of color, however, I believe we begin with restorative economic policy for Black Americans.