More Than A Magazine, A Movement
Advocates gather outside the White House to advocate for the child tax credit in advance of the White House Conference on Hunger, Nutrition, and Health on Sept. 20, 2022. : The House passed a bipartisan bill last month that would allocate $78 billion to expand the child tax credit. It now heads to the Senate, where it face obstacles to passage.
It’s so interesting, because I vividly remember conversations about prison reform, voter rights, overhauling the education system—the list goes on and on. But a candid conversation about money? Never. I felt that this random person would unlock some magical room and provide all the answers I needed to become wealthy; get the big house backed up against the lack, fancy cars and luxurious vacations. I was so excited … until I wasn’t.
For the last decade I have led an organization in Jackson, Miss., that takes a radically community driven approach to addressing the needs of families—mainly Black women—living in federally subsidized affordable housing. Our programs are holistic and super strategic. But a few years ago, we started to worry that we really were not moving the needle on poverty.
We give Black mothers $1000 a month for 12 months. Today, the Magnolia Mothers’ Trust is the longest running guaranteed income project in the country at five years. But for many women—particularly women of color who do not own assets or can make a living wage because of—this definition of wealth is inadequate or meaningless. Black women make 61 percent of what white men make, and our country’s economic system has historically excluded people of color through practices like redlining and discriminatory policies, which has led us to the current reality.
For too long, we have defined wealth—and the process of building it—on the terms of the financial institutions. I have never had a mom tell me wealth is having stocks and bonds, equity in their home, or a retirement account. Case in point: One time I asked a mom I work with if she had six months in savings to help with an emergency.
When I first asked myself, “What is wealth?” I started crying. I realized that for 20 years, I have been holding on to a definition of wealth that wasn’t written for me, nor does it mirror my desires. I never wanted those big houses perched on the edge of the lake. I wanted what they symbolized in my young mind: the ability to gather those I love, spoil them, nourish our whole crew so we can be ready to go out in the world and do good work for others.
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