Progressive billionaire George Soros has long used his personal wealth to fund a variety of far-left causes and organizations.
Now, the mayor of Los Angeles, California, has confirmed that Soros is interested in financially backing a pilot reparations plan aimed at redistributing wealth along racial lines.
Details of the plan
According to the Washington Examiner, Democratic Mayor Eric Garcetti described the effort as a coalition of 11 big-city mayors.
Mayors Organized for Reparations and Equality hopes to launch pilot programs in each of the cities while increasing pressure on Congress to create a similar program on the national level.
Garcetti opened up on the program in a recent interview with the Los Angeles Times, acknowledging that reparations would likely prove too expensive for taxpayers to fund through taxes. Instead, he cited a need for additional funding from private donors — including both wealthy individuals and corporations.
Soros has already stepped up to provide some of the necessary funds, the mayor said.
At this point, the project is little more than an advisory panel created with $500,000 from the city’s coffers. Participants are reportedly focused exclusively on studying the prospect of providing reparations to the descendants of American slaves, provided they are Black and live within Los Angeles.
“A place of injustice”
Similar commissions are being established in the other cities that have joined the coalition with the hopes that their various programs will pave the way for a federal program.
During a virtual launch meeting for the multicity organization, Garcetti insisted that the nation needs to “address” the issue of racism.
“This year has shown us in some of the starkest possible terms that while America is a land of opportunity for some, it remains a place of injustice, inequality, and indignity for too many of our black brothers and sisters,” the mayor said. “It remains unequal for the descendants of those who were forced onto slave ships, uprooted from their lives, uprooted from their loves, stripped of their humanity and their dignity and their rights.”
He touted reparations as a way to address the wealth gap between white and Black residents in his city.
There are plenty of related issues that have yet to be addressed by these commissions, however, including the financial and societal fallout associated with forcing some races to hand over their own money to members of other races.