Latinos are an integral part of American society. As a group, we have $1.5 trillion in buying power, we have revitalized struggling cities and rural communities across the country. We serve in the military, contribute to the arts, run for office, teach, are lawyers, doctors, business owners and more. We make our nation stronger. We are hard workers who, like so many immigrant groups before us, have come here in search of opportunity and a better life. We are America’s backbone.
My family has been in Chula Vista for five generations, but my connection to my Latin roots is strong. Serving my hometown of 268,000 is my life’s calling and my greatest honor. Chula Vista is located in a culturally, economically and environmentally diverse place. But, despite the tremendous contribution Latinos make, many are being left behind.
Latinos face significant wealth gaps. These are reflected in the wages we receive, our average net worth and our rates of homeownership. One survey said that Latino wage and salary workers ages 16+ who were paid hourly received below the prevailing federal minimum wage. In 2015, Latino families had a median net worth of $19,000 compared with $139,300 for white families. And, more than 70 percent of white households were owned by the occupants, versus less than half of Latino households.
Mike Bloomberg has always been a good friend to Latinos — as mayor of New York City and as a philanthropist. His Latino focused agenda “El Paso Adelante” will ensure that the Latino community feels embraced and is able to prosper. It is packed with economic opportunity, which is music to my ears and it is why I hope Mike will be the next president of the United States.
Right now there are slightly more than 300,000 Latino-owned businesses with one employee or more. Mike’s plan will build Latino wealth by empowering entrepreneurs and improving access to vital funding in order to double the number of Latino-owned businesses. Mike is a man of his word and if he says he will put federal dollars behind Latino businesses, he means it. That’s a big commitment and one that would be very gratefully utilized and that would pay enormous dividends to the economy.
Mike will narrow the income and wealth gaps between Latinos and whites through higher wages and higher levels of home ownership. He will reform financial systems so Latinos have greater access to credit and that banking costs less. And, he will modernize our borders so that goods and services move faster and more securely. It’s exciting just thinking about what this would mean for so many residents of Chula Vista.
We need a president who sees the Latin community for the force that we are. And we are quite a force.
Latinos are expected to be the biggest minority group in the electorate for the first time in the 2020 election. Amazing. We are too big to ignore and we are thrilled to have our votes counted and our voices heard.
Mike Bloomberg is an experienced, inclusive, level-headed leader who will get the job done for Latinos and for Americans everywhere. I welcome his inclusive brand of politics and I welcome the change that he will bring to Washington. You read it here: I like Mike!
