New Jersey now has a “wealth disparity” task force to stamp out financial inequality

TRENTON, NJ – A new layer of government has been created by New Jersey Phil Murphy, seen as one of America’s most progressive liberal governors, the “Wealth Disparity Task Force”. This week, Murphy appointed the leaders of that task force which will create ‘equity’ among the residents of New Jersey by diverting taxpayer funding into programs that will attempt to close the gap between the state’s poorest residents and the state’s wealthiest residents.

The Wealth Disparity Task Force will advise the Murphy Administration on strategies aimed at addressing the various causes and effects of wealth disparity in New Jersey. The task force will prioritize efforts towards equity among all members of the New Jersey community by studying the causes of the inequality that has prevented the state from reaching its full potential in the past. By working to achieve inclusion of groups and individuals who have previously been marginalized, the task force will create comprehensive strategies and solutions to achieve a fairer distribution of wealth in New Jersey.

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“We have a state which we inherited with enormous inequities. This virus has laid those inequities bare,” Murphy said of what he perceives as inequities within the state.

“The wealth disparity task force is going to be a game-changer. This is looking at all reasons, particularly in black and brown communities why the gap in net worth is as staggeringly wide as it is. It’s all-encompassing. This is a far-reaching endeavor,” Murphy added. “On average, an African American family or a Latino family, you look at their net worth, and you compare it to a white family, it’s literally hundreds of thousands of dollars in the latter, and it’s under $10,000 in both of those communities in the former. We’ve got to do something about that, and it’s a far-reaching reality in terms of why we are where we are, and it’s going to need to be a far-reaching scope of that task force.”

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