Jack Kemp’s thoughts on New New Orleans
A couple of days back, former HUD Secretary Jack Kemp delivered the seventh annual John T. Dunlop lecture, sponsored by Harvard’s Joint Center for Housing Studies, his speech entitled “An Urban Renaissance for the Gulf.”
Long self-described as both a market Republican and an advocate for the poor, Secretary Kemp was and is animated, energetic, and emphatic. Here, slightly rearranged for clarity, are some of his remarks regarding the rebuilding of
On the role of markets
I’m seventy years old. Making capitalism more democratic is why I’m on this earth.
The greatest social programs in
An investor and a worker are the same people at different stages of their lives.
On imagining a New New Orleans
We can’t build New Orleans the same as we all knew it. We can build it as it can be and should be.
On the value of fiscal incentives
How can we stimulate
1. No capital gains on investment in the gulf port area that creates new jobs for people who live in the gulf port.
2. Total expensing of capital investment in the gulf port.
3. No income tax to any former gulf port resident who comes off welfare.
On the virtues of homeownership
Housing is a ladder to wealth but that doesn’t do any good if you’re not able to get on the bottom rung.
How do we get the ladder low enough?
We’re going to condemn a lot of property in
Habitat for Humanity has pledged to build 25,000 homes for the gulf. The response has been overwhelming. We’re going to float them on barges downriver.
Housing represents 21% of the
On the responsibilities of Government-Sponsored Enterprises
Fannie Mae, Freddie Mac, and the Federal home loan banks should all pledge 3-5% of their profits, industry-wide, for activities like this.
