Why Are We Talking About Houses?
There are thousands of plays and hip hop musicals which could be written, that Rhymes Over Beats would want to produce, that would interest our audience based on subject matter. Unjust conviction is just one of these subjects.
In this blog, and every once in a while in future blogs, I’ll discuss some of these subjects, in hopes that it will inspire a hip hop artist or playwright to produce some new work about it.
But this week’s subject is really about money.
Not salary money, or ‘hit my numbers in lotto’ money, but ‘building intergenerational wealth’ money.
Where Does Wealth Come From?
Imagine you are in your twenties and you want to buy a house. Not in a great neighborhood, but not in a terrible one either. You can’t afford the down payment. Fortunately though, your parents can. They loan it to you, and because they’re your parents, it’s interest free.
So, in 1980 you buy a $12,500 house. You pay your bills and go on vacation every year. You don’t get rich, but you’re not in debt. Fast-forward until you are ready to retire. That three bedroom two bath house that seemed too small when the kids were growing up now seems too big. When you decide to put it on the market you’re pleased to discover that it is now worth $400,000.
Now, imagine your best friend from high school. He didn’t buy a house. He had no parents with a house whose equity let them lend a down payment to him. At retirement he has nothing to pass along to his kids. You have $400,000.
For most people this is the major way wealth is created.
And the Rich Get Richer…
Now just imagine that the first situation is the result of governmental action. The government decides who benefits by deciding that the people who receive this substantial gift of money are not taxed. Now the government is perpetuating the system.
There is a gap between the rich and the poor. Every year it gets bigger.
There need to be plays written that to help reverse the trend. Any ideas? Please consider writing them and let us know.
Tell stories about the way things are to raise awareness.
Write stories about the way you want it to be to change the story.