Michael Bloomberg campaigns in Tulsa

Billionaire presidential hopeful Michael Bloomberg visited Tulsa on January 19, speaking to an overflow crowd at the Greenwood Cultural Center in the heart of the city’s historic Black Wall Street district.

Bloomberg used the occasion to roll out an ambitious plan for boosting the economic fortunes of minorities in this country.

After speaking of economic injustices that have kept minorities, especially black Americans, in poverty for generations, Bloomberg said it is time to break the cycle.

“Today the typical black family owns one tenth of the wealth of the typical white family,” the former New York City mayor said. “That really is a disgrace…it’s time to say ‘enough’ and to do something about it.”

Bloomberg said that equal rights and economic justice go hand in hand.

“True equality is only achieved when there is no correlation between race and riches,” Bloomberg said, adding that he was running for president so that he could do “big things that will make a difference.”

“Today I’m proposing a sweeping and ambitious strategy…(to) close the racial wealth gap that plagues our country,” the Democrat, whose personal fortune is estimated at more than $60 billion, stated.

Calling his plan the “Greenwood Initiative,” the billionaire proposed a $70 billion program that would use a variety of methods to combat poverty in 100 disadvantaged neighborhoods across the United States.

Bloomberg said he would help a million black families to become homeowners and double the number of black owned businesses.

“If we could eliminate the racial wealth gap in this generation, we would add $1.5 trillion dollars to the American economy,” Bloomberg said. “Everyone would benefit – so what are we waiting for?

Bloomberg also spoke about the need to reverse the mass incarceration plaguing minority groups, pointing to success he achieved in this area while he was mayor of New York City, where he expanded President Obama’s “My Brother’s Keeper” initiative.

“As president I will build it out further,” Bloomberg vowed, “and we’ll also recruit more black and Latino teachers…because studies show that having a role model at the front of the class is one of the best investments we can make.”

A late comer to the Democratic race to challenge Donald Trump, Bloomberg has focused on expansive television commercials in states that vote on Super Tuesday and beyond. Without having participated in any of the debates, Bloomberg is currently polling in fifth place. (La Semana)