1. Economic Justice For All: The Great Regression to Progressive Action We Are One Conference

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3. 3 Distribution of Wealth

4. 4 I Guess We Must be Optimists

5. 5 Who has the Money??? Top 1% has a third of the nations wealth. Top 10% has over 70% of the nation’s wealth. 90% of America has less than 30% of the nation’s wealth. Half of America only has 2.5% of the nation’s wealth.

6. 6 Average Wealth by Wealth Class in 2009

7. 7 Housing Crisis

8. 8 Debt!

9. 9 We are Now a Nation of Debtors Size Of Whole Economy Total Outstanding Debt Monthly Review 12/08. From Federal Reserve data. $ Trillions

10. 10 Lost Jobs

11. 11 New Job Loss 14 million of those categorized as unemployed are out of work In October 80,000 jobs were created yet need 90,000 jobs just to keep up with job growth DON’T THINK RIGHT. THINK NEED 200,000 JOBS TO KEEP UP WITH JOB GROWTH It is estimated that in addition to 14 million unemployed Americans, another 2.3 million have simply left the labor force.

12. 12 Lost Jobs

13. 13 Immigration Scapegoating

14. 14 The Truth About Immigrants Contribution to the Economy

15. 15 The IRS recently determined that between 1996 and 2003, undocumented workers paid $50 billion in federal taxes. Undocumented Workers Contribute to Federal Taxes

16. 16 The Social Security Administration estimates that the undocumented pay $8.5 billion in Social Security and Medicare taxes annually Undocumented workers contribute to Social Security and Medicare

17. 17 Roughly 90% of native-born workers experience wage gains from immigration, which totals between $30 billion and $80 billion per year Immigrants contribute to wage gains for native- born workers

18. 18 A path to legalization for undocumented immigrants would provide a $1.5 trillion dollar boost to the American economy over 10 years and boost wages for US born workers and newly legalized immigrants Legalizing undocumented workers can strengthen the US economy

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24. 24 The Racial Wealth Divide

25. 25 Who has the Power?

26. 26 “Corporations are People Too !”

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28. 28 Citizens United Decision

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30. 30 Workers Are The People

31. 31 In 2009, Productivity Up 9% Wages Down 4.5%

32. 32 Red States—Right to Work States

33. 33 Red States—Where Anti-Union Legislation is Moving

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35. 35 What percentage of private sector workers in the U.S. has a union job? A. 0% B. 7% - - - - - - - - - - - - - - - - - - - - - - - - - - - - - C. 33% D. 50%

36. 36 1955 2011 33% 7% Private Sector Union Density

37. 37 In the United States, how much more money does the average CEO make than the average worker? A. 50 times B. 96 times - - - - - - - - - - - - - - - - - - - - - - - - - - - - - C. 178 times D. 343 times

38. 38 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 343 25 Average CEO pay times higher than the average worker

39. 39 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Which president did the most to deregulate investment banks, enabling them to crash the economy? A. George W. Bush B. Ronald Reagan C. 1st George Bush D. Bill Clinton

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41. 41 The national deficit makes up a bigger part of our economy than ever before. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - True False

42. 42 As a share of our Gross Domestic Product (GDP)… Our national deficit was higher following WW II than it is today. As a share of our Gross Domestic Product (GDP)… Our national deficit was higher following WW II than it is today. + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - As a share of our Gross Domestic Product (GDP)… Our national deficit was higher following WW II than it is today. $ $ $ $ + - 20111945

43. 43 Two Economic Realities

44. What broke our economy? Was it the Great Recession?

45. 45 The Great Recession Increased Inequality

46. 46 Economic Inequality didn’t start with the Great Recession

47. 47 Before the Great Recession: Great Income Inequality Between 1979-2007 About 64% of income growth went to the highest paid 10%. While the other 90% only saw 36% of income growth. The poorest 20% saw not even half of 1% income growth.

48. 48 Before the Great Recession: The Great Regression

49. 49 During the Great Regression Concentration of income and wealth Stagnating average wages Shift from 1 worker household to 2 worker households More work less You Have Declining savings Increased Economic Insecurity Shift of cost away from the elite to middle and working class

50. 50 Wages pretty stagnant from 1970’s 2009

51. 51 2 incomes masking stagnant wages

52. 52 2 incomes today < 1 income of the 1970’s Discretionary Single income of the 1970’s is greater than Discretionary Dual Income of the early 2000’s $42,450 > $73,770

53. 53 Why $43,000 is more than $74,000 (after adjusting for inflation).

54. 54 Declining savings

55. 55 Increased Economic Insecurity During the Great Regression

56. 56 Single Income Family Today If dual income families are in more difficult economic situations than single income families of the past then today’s single income families are even in worse condition. Most Americans have less median earnings than the (inflation adjusted) $42,000 average of the early 1970’s. Median Earnings 2007: White women - $36,398 Black males - $35,652Black Women- $31,035 Hispanic males - $ 29,239 Hispanic Women - $25,454 American Indian men - $34,833 American Indian Women - $28,937

57. 57 Other Signs of the Great Regression : Shifting of cost to worker

58. 58 A Shift in Burden

59. 59 Rewards of Productivity shift from worker 59

60. 60 An Old West Virginia Proverb “ If you keep going in the same direction… You ’ re liable to end up Where you ’ re headed ” A Strong American Economy Requires a Strong Middle Class Not: Growing concentration of income & wealth Stagnating average wages Working more having less Declining Savings Increased Economic Insecurity Shifting cost on to middle & working class Great Regression Great Recession

61. 61 We Must Shift the Direction of the Country. It has been done before. A Wall Street Crash in 1929 laid bare the falsehood that the Great Economic Inequality of the Gilded Age was sustainable. Those who had been most active in resisting the great inequality faced by the masses created a political climate where bold progressive reforms were implemented. The Gilded Age Great Depression

62. 62 Institutionalizing change It would take about 5 years until the liberal politicians in power took the bold steps of the “Second New Deal”. The Second New Deal would empower union organizing through the Wagner Act further regulated the treatment of workers through the Fair Labor Standards Act of 1938, provide mass employment opportunities through the Workers Progress Administration, and provided benefits to the unemployed and the retired with the Social Security Act. Government investment in its citizens, regulation of corporations and finance, and the booming economy produced by World War II created the basis for the American middle class.

63. 63 A Middle Class Economy The struggles of organized citizens combined with federal legislation created a more equitable growing economy.

64. 64 Labors Ten Years of Rapid Advancement

65. 65 Post 50’s Other Movements lead in struggle for greater shared Prosperity As t

66. 66 Struggle on Many Fronts advanced a Shared Prosperity Agenda The Struggle of America’s most exploited workers, advance the most progressive set of policies since the New Deal in the Great Society Program. The Great Society programs from 1964 to 1968 included: The Civil Rights Act of 1964, Voting Rights Act of 1965, The Immigration and Nationality Services Act of 1965 The Civil Rights Act of 1968 -banned housing discrimination and extended constitutional protections to Native Americans on reservations. The Economic Opportunity Act of 1964 The Social Security Act of 1965 (Medicare and Medicaid) The Elementary and Secondary Education Act of 1965 The Higher Education Act of 1965 The Bilingual Education Act of 1968 Truth in Lending Act of 1968

67. 67 Movements of 1960s recognized Economic Justice was the foundation of social justice Goals of The Freedom Budget 1. Abolition of poverty 2. Full employment 3. Full production / high economic growth 4.Adequate minimum wage 5. Farm income parity 6. Guaranteed income for those who can’t work 7. Decent homes for all 8. Modern health services for all 9. Full educational opportunity for all 10. Better social security and welfare 11. Equitable tax and money policies

68. 68 The Great Regression turning back Racial equity advances.  1977 to 2007 only about a 1% increase in Black / white income equity. 2007 to 2009 Black / white income inequality is increasing.

69. 69 Financial Regression

70. 70 Financial Sector a leading force in Great Regression

71. 71 Wheel of Misfortune Rule changes favoring the 1% Greater Economic Inequality Weakened American Worker Weakened labor and grassroots movements Greater political power for the elite

72. 72 How Do We Break Out of the Wheel of Misfortune We Fight Back! Immigration Rights March of 2010

73. 73 We Acknowledge and Advance our Victories Strengthening Civil Rights Enforcement Fair Sentencing Act

74. 74 We Recommit to past struggles

75. 75 And We End the Lies

76. 76 MYTH: What’s Good for Wall Street is Good for All

77. 77 Wall Street wealth does not trickle down

78. 78 MYTH: What’s Good for Corporations is Good for All

79. 79 Corporate Profits go into the pockets of CEOs

80. 80 MYTH: What’s Good for The Rich is Good for All

81. 81 The Truth is there is enough for everyone

82. 82 The truth is when the Private Sector is broke the Public Sector is needed

83. 83 The truth is there must be strong regulation limiting the damage the wealthy can do to the economy The Rich are destroying the economy not working and poor people.

84. 84 The Truth IS Though the wealthy and elite have torn the economy apart once again it is working people who will rebuild this country. So what are we doing to build an inclusive Middle Class Economy?