Renowned, award-winning reparations scholar William “Sandy” Darity is not happy with former Ohio State Sen. Nina Turner touting statistics that say canceling $50,000 in student loan debt will help close the racial wealth gap. And he directly told her so on Twitter.
“Canceling just $50,000 of student debt per person would immediately increase Black Americans’ wealth by 40%. It should ALL be canceled,” Turner tweeted on Thursday, Aug. 11, along with a link to a Bloomberg article to support her claim.
Turner made the claim in tandem with some of her Democrat peers as they are again pressuring President Joe Biden to cancel a minimum of $50,000 in student loan debt overall.
Darity, who has done extensive research and is one of the foremost experts on the racial wealth gap, was over the rhetoric.
“I favor student debt cancellation, but, at best, it would raise wealth ONLY for black folk holding student loan debt. Vast majority don’t. And it will have virtually no impact on the racial wealth gap,” Darity replied to Turner. “Why do you keep repeating this dubious statistic?”
It’s not the first time Darity has aired out his grievances against what he says research shows is a false claim that canceling student debt will close the racial wealth gap.
In a New York Times article titled “The True Cost of Closing the Racial Wealth Gap,” Darity wrote, “…policies like forgiving all student debt, and providing universal ‘baby bonds’ to the entire population, won’t be nearly enough. These programs are worthwhile, and I support them…While these approaches can do much good to help both the poor and the middle class, they won’t close the Black-white wealth gap.”
Darity wasn’t alone in his frustration with Turner’s tweet. Another Twitter user identified as Ryan Wilson asked Darity to try and reason with Turner about it.
“Maybe she’ll listen to you. I’ve given up,” Wilson tweeted. To this Darity replied, “No she won’t. She’s committed to gaslighting on this claim.”
Other Twitter users also responded to Turner’s tweet.
“But it doesn’t close the racial wealth Gap, My household doesn’t have any College debt. This policy does nothing for my family,” @CurrencyMindset wrote. “What will help my household and close the racial wealth Gap is a comprehensive reparations package for the descendants of American chattel slavery.”
“So you want the minute of black professionals to get a break while the majority struggle to eat?” @H3adph0neMu51c asked.
“You can call for the cancellation of student debt. You just can’t pretend like it’s a Black American specific issue,” @Black_Action replied. “Canceling student debt would be a tremendous bailout for white women and men.”
IN THE ORIGINAL PHOTOS:
Dr. William “Sandy” Darity Jr. (by Justin Cook/Minneapolis Fed)
This July 7, 2021 file photo shows Nina Turner speaking with supporters near the Cuyahoga County Board of Elections before casting her vote in Cleveland. Turner is making another run at a Cleveland-area U.S. House seat in Ohio, the former state senator and top surrogate for Bernie Sanders’ presidential campaign announced Wednesday, Jan. 26, 2022. (AP Photo/Phil Long, File)