NEWARK, NJ-Young people in New Jersey already facing an unsurmountable task of survival and life in the nation’s most taxed state now have more to worry about if they plan on growing roots in their home state.
A self-sufficient existence for millenials is already an impossible challenge here, but for white millenials, it’s about to get harder. That is, if a racially motivated wealth re-distribution plan being proposed by New Jersey Senator Cory Booker becomes a reality.
Booker thinks white kids in New Jersey and America have too much money, so he plans on redistributing that wealth to minority children.
Today, white young people have 16 times the wealth of black young people. I joined @TheRevAl to discuss my baby bonds legislation, which would virtually close the racial wealth gap. https://t.co/XFTvWOqvI6
— Cory Booker (@CoryBooker) March 25, 2019
Booker describes the taking of wealth from one race of people and giving it to another race of people as “cross-racial unity”.
The proposal allows young black children to receive $1,000 at birth, paid for through taxes by young whites in the workforce, then $2,000 annually from the government.
Booker suggests that redistributing the wealth from wealthy white families to disadvantaged black families will close the racial wealth gap in America.
The proposal is called “American Opportunity Accounts”, or “baby bonds”.
“Everyone in America should have a real shot to succeed,” Booker said. “The gap in wealth between the richest Americans and the middle class has grown dramatically in the past 50 years.”
The baby bonds account will be for families making under $125,000 per year, according to the proposal.