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Is Economic Inequality ending the american dream?

This workshop explores the reality of income inequality in America and discusses potential actions to challenge economic inequality. The paper by Anne L. Schneider provides facts and insights on the topic.

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Is Economic Inequality ending the american dream?

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  1. Is Economic Inequality ending the american dream? By Anne L. Schneider (full paper available at UUJAZ.org )

  2. This Workshop • Part I. Think about Income Inequality – not just talking points, but facts • Part II. Feel –Tell your story of economic insecurity and challenge or try to imagine yourself without your job or livelihood • Part III. Act --What can you and your congregation do, now? What are social justice actions that challenge economic inequality?

  3. Escalating Inequality. The End of the American Dream? • Is income inequality really escalating, or is this just political hype?

  4. Top 1% of Households: 20% of Income!The “graph of the year” 50 years of increasing EQUALITY

  5. And If That Isn’t Convincing....

  6. How Much Money Are We Talking About? Top 1 %

  7. And, if you are still not convinced

  8. Inequality in Overall WEALTH, by Race

  9. Pay Gap, Women from 1975-2013

  10. Arizona Is an “Average” State

  11. AZ and CA top 1% of Income

  12. But, What’s Wrong With Income Inequality? • You really don’t expect a capitalist country to try to equalize incomes, do you? • No, but we do have principles!!

  13. The Difference Principle.... • .... Income inequality can be justified if it works to the advantage of everyone, especially the MOST disadvantaged (John Rawls) • Rawls may not have been a member, but his memorial service wa was held in the UU church of Lexington Mass.

  14. Does a “Rising Tide Raise All Boats?”

  15. A Closer Look: Poorest 20%

  16. The Equal Opportunity Principle (Social Mobility) • Rawls also said that income inequality is justified ONLY IF “stations are open to all.” Economic Justice has never meant Equal Incomes; but rather, TRUE, Equal Opportunity. Differences across race, gender are not just. • Rags to Riches! Horatio Alger Jr. • (He was a Unitarian.)

  17. Social Mobility, Not Very Good! Is it Worse?

  18. Social Mobility in Arizona http://www.nytimes.com/2013/07/22/business/in-climbing-income-ladder-location-matters.html?pagewanted=all&_r=2&

  19. Social Mobility in California

  20. The Need Principle: • No one should have “surplus” income until all persons have their basic needs met.

  21. Meeting Basic Human Needs

  22. The Proportionality Principle • Plato – The wealthiest should make no more than four times the poorest • Aristotle – No, it would be okay for the wealthiest to make 5 times as much as the poorest • J.P. Morgan – The CEO should not make more than 20 times the workers • Peter Drucker – 20 times is about right • In the U.S. the most egalitarian period was the 1970s and the ratio was 20:1 (top 1% to poorest 20%) and by 2012, it is now 40:1.

  23. Inequality Matters! • Impacts • Education • Health • Happiness

  24. What? Me Worry? • Piketty says, Income inequality will continue to escalate well into the 21st century... Unless... • Other leading economists say... The current level of income inequality is damaging the economy as a whole, including the recovery; capitalism cannot survive this level of inequality • Political scientists say ... The infusion of money into politics means that the government is unable to reverse policy directions • Others: Income inequality is damaging to your health, to social capital, to the very fiber of our communities

  25. Part II. Feel • https://www.youtube.com/watch?v=NbxQpCq21l0 American Winter • Tell your story of economic insecurity and challenge or try to imagine yourself without your job or livelihood. What has happen to you or someone in your family or someone you know?

  26. Your Turn: Tell your story of economic insecurity and challenge or try to imagine yourself without your job or livelihood. What has happen to you or someone in your family or someone you know?

  27. Part III. Act What can we DO about Economic Inequality? What can you and your congregation do, now? What are social justice actions that challenge economic inequality?

  28. Masters of the Universe would… • Increase the top marginal tax rate (back to 75%) • Greatly increase the inheritance tax • Create a global progressive tax on wealth • Overturn Citizens United (and take money entirely out of politics, “clean elections” for everyone) • Curtail lobbying; full disclosure

  29. What can be done by ordinary people? Escalating Inequality is our UUA “Congregational Study Action Issue” of 2014, and will continue for four years. There is information on the UUA site with ideas about how to educate, inform, and activate your congregation on this issue. http://www.uua.org/economic/escalatinginequality

  30. Locally we can lead the way! • Economics • Take on the corporations (pressure them to pay a living wage) and to get out of ALEC • Take on the banks (pressure them to reduce principal on underwater loans; to refinance student loans) • Create public banks • Take on local government (increase the minimum wage; put local funds into community or public banks)

  31. Locally we can lead the way! • Politics • Increase political participation, stop voter suppression • Take on American Legislative Exchange Council (ALEC) • Strengthen “clean elections,” overturn Citizens United • Stop harmful state legislation

  32. Locally we can lead the way! • Education • Make higher education more affordable • K-12 funding; support public schools

  33. An Example of a Congregational Project Public Banking with Mountain Vista UU Congregation, Tucson, AZ and Arizonans for a New Economy

  34. Arizonans For A New Economy

  35. Arizonans For A New Economy

  36. Arizonans For A New Economy

  37. Arizonans For A New Economy

  38. 10. Finance Infrastructure Projects Use public funds to fix and build infrastructure making the state more competitive and safer. State banks can lend to local governments at lower rates, saving money.

  39. 9. Create Good-Paying Jobs Infrastructure jobs, research jobs, banking jobs, small business jobs will be created with investments locally.

  40. 8. Provide Low-Cost Business Loans Through community banks, public banks can back low-cost loans to local businesses, farmers and entrepreneurs, thus growing the economy.

  41. 7. Strengthen Community Banks As a “wholesale bank,” a public bank partners with community banks to make low-cost loans.

  42. 6. Offer Low-Cost Student Loans Low-cost student loans would open the doors of the universities to more students, strengthen the university system, create university jobs, and build the work force of the future.

  43. 5. Excuse/Refinance Personal Debt Excusing or refinancing personal debt at lower rates would help graduates with high-interest student loans who can’t find good jobs and homeowners whose mortgages are underwater, and eliminate the need for pay day loans and credit cards to make ends meet.

  44. 4. Fully Fund Public Education Business leaders and education advocates say that the state needs an educated workforce to compete. Public bank profits could improve school conditions—high quality schools are something businesses look for before moving to a state.

  45. 3. Foster University-based Spin-off Businesses Supplying research seed grants to scientists and start-up funds to new ideas/inventions keeps high-paying jobs and research spin-offs in the state.

  46. 2. Protect Taxpayer Funds from Wall Street Gamblers Public banks are safer than Wall St. banks. State banks invest locally and work with community bankers who know clients. They avoid risky investments.

  47. 1. Nonpartisan Economic Solutionto Generate Revenue Public banks can help generate revenue and strengthen the economy by funding state infrastructure projects, providing high-paying jobs, and reducing personal debt, WITHOUT RAISING TAXES!

  48. MVUU & Arizonans for a NewEconomy Partnership: • UUJAZ connects activists with congregation • Education on Public Banking within the congregation and the community • Minister and activists meet with local state senator • Senator talks with conservative colleague • Three senators propose a feasibility study for a state bank in Arizona • Bill dies in committee • Education continues in congregations around the state • Return again to the Legislature next year!

  49. Your turn: Questions, Comments, Examples • Actions/projects going on in your own congregation around Economic Inequality? • PowerPoint slides are available at www.uujaz.org

  50. Remember • Do what you can, with what you have, from where you are ! • “Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.” Margaret Mead

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