During a Monday appearance on CNBC’s “Squawk Box,” Johnson said a “wealth transfer” is needed to help bridge inequality between blacks and whites.
“Now is the time to go big,” he said, adding that the wealth divide and police brutality against blacks is what George Floyd protests are all about. Protests have erupted nationwide after a black man was killed by a white police officer.
“Wealth transfer is what’s needed,” he said. “Think about this. Since 200-plus-years or so of slavery, labor taken with no compensation, is a wealth transfer. Denial of access to education, which is a primary driver of accumulation of income and wealth, is a wealth transfer.”