Gov. Wes Moore’s efforts to be “unapologetically Black” give us startling insights into why Maryland has the second-worst economy in the United States. In a recent appearance on “Clock It,” Symone Sanders-Townsend applauded Moore for not being “concerned about alienating white people.” This stance is hardly surprising given that mere months ago, the governor blamed widespread public resistance to partisan gerrymandering on attacks on his status as a Black governor. Instead of backing away from his inflammatory rhetoric, Moore defended it with shocking audacity, claiming on the show, “It’s because I’m really good at math.”
Maryland’s multiyear billion-dollar budget deficits beg to differ. His intentionally misleading claims that he “turned a $3 billion inherited deficit into a surplus” don’t bolster his case for financial literacy or even simple arithmetic. On “Clock It,” he brazenly claimed he strengthened Maryland’s economy, just days after CNBC declared Maryland the second-worst state economy in the nation. However, his claims demonstrate that his misplaced priorities and misguided economic philosophy have left Maryland at the bottom of CNBC’s economic ranking of states.
The “racial wealth gap” refers to the measurable difference in household wealth between white households and Black households. According to a report released by the Maryland Department of Planning, the median household net worth for non-Hispanic white households is around $463,000. The net worth for non-Hispanic Black households was a soul-crushing $61,000. The “wealth gap” discussion has been around for decades, and the debate about it ranges from conservative arguments about cultural decay and overreliance on government to progressive talking points of institutional racism and the echoes of white supremacy. The truth lies somewhere in between, but for Democratic policymakers like Moore, their commitment to the latter has terrible consequences beyond the groups they purport to help.
Moore’s governing philosophy is heavily influenced by critical theory, which emphasizes disrupting institutions allegedly shaped by white supremacy to bring about social “equity” for disadvantaged groups. His politics emphasize the role of government to force the redistribution of wealth, which is why in his interview he points to his efforts to force the government to select contracts that consider factors such as race and gender, along with other identity markers. Some would argue that these stringent requirements delayed the timeline and inflated the costs for the replacement of the Francis Scott Key Bridge. In any case, making policy decisions based on competitive factors such as costs, competency and controls is a far more prudent method of strengthening an economy. Moore’s hesitancy to embrace these core values has a negative impact on Maryland’s economy.
The governor and his Democratic allies rely heavily on the public’s lack of financial knowledge to continue to advance policies that actively worsen the wealth gap. They constantly conflate wealth with income. In a capital economy such as the United States, wealth is largely tied to ownership. However, Democratic narratives continue to push misleading claims that income and wealth are synonymous. They advance policies such as minimum wage laws and guaranteed income programs as their efforts to close the wealth gap. They push programs such as rent control, energy bill assistance and childcare subsidies, under the guise of being helpful.
Moore is no exception. Just last week, the governor announced that Maryland would be investing over $1 billion in the development of affordable rental units. On the surface, this sounds like a wonderful announcement from a governor who cares about his people. However, in the context of closing the wealth gap, his policy is nothing more than a Trojan horse. It funnels taxpayer dollars into a system that pads the pockets of powerful financial interests while keeping tenants as tenants.
Every rent payment actively builds the wealth of a landlord and drains the wealth of the tenant. This is not so much to criticize renting as to point out the hypocrisy of a governor complaining about the wealth gap while simultaneously using Maryland taxpayer funds, fueled by punishing vehicle registration fees and budget-busting property taxes, to fill the coffers of mega-capitalists.
We could point to any number of other ways in which the governor’s policies and philosophy have undermined efforts to pursue true wealth in our state. However, suffice it to say that at the root of the issue is having a political party in power that is diametrically opposed to efforts to help working- and middle-class Marylanders build personal wealth.
Closing the racial wealth gap in Maryland is quite simple. Empower those willing to work, sacrifice and build to own things. The governor could champion efforts to reduce Maryland’s rental vs. ownership ratio, with lower property taxes and encouraging the development of middle-class housing for families to purchase. He could aggressively stanch the relentless bleeding of Maryland residents and revenue to neighboring states by wrangling the General Assembly to pursue business-friendly policies. Or, he could simply resign and offer the job of managing Maryland to someone who actually cares.
Torrey Snow is a columnist and editorial board contributor at The Baltimore Sun; he can be reached at tsnow@baltsun.com.
