Fundamentals
Prosperous AND Shared Economy

Creating a
Prosperous AND Shared Economy

In the 21st Century, we should expect a Prosperous AND Shared (P&S) Economy.  With our widening financial inequality over the last 30 years, how do we reverse the trend so that all our citizens benefit from increasing national prosperity? There are three key elements to create a P&S Economy: a strong commitment to our Basic Public Investments (BPIs), Valuing All Workers (VAW), and Sufficient Laws, Regulations and Services (SLRS).

Our BPIs are critical for the existence of our businesses and create opportunities for our citizens and our businesses to flourish.  Our BPIs create and save more tax revenue than cost… they pay for themselves!  After World War II, when we were broke, we built our interstate highway system and other infrastructure, we created our education and healthcare systems, and we invested in safe communities, community development, research, and safety nets.  These Basic Public Investments paid off huge for our country and taxpayers.

The second key element in creating a P&S Economy is VAW (Valuing All Workers).  Unskilled labor and service jobs provide critical contributions to our businesses and morally deserve a livable wage.  Economically, it is also important to pay livable wages as it makes people customers with money.  Raising the minimum wage puts more money in the pockets of people that have many immediate needs.  They spend quickly speeding up and expanding the economy and contributing more to the tax base.  They become customers with money which causes businesses to hire and expand creating more customers with money and more tax revenue.  This cycle is a positive feedback loop and a catalyst to initiate business investment.

Until about 30 years ago, the prosperity of our workers was raising with the prosperity of our nation.  In the last 30 years, the GOP fought hard to erode the minimum wage letting gradual inflation to decrease the minimum wage in real terms.  The GOP has also fought against collective bargaining which has had a significant role in increasing wages that created the middle class.  The minimum wage impacts wages at the lower end decreasingly so for higher wages.  Decreasing the minimum wage in real terms and impeding collective bargaining has caused our working families to increasingly struggle to provide for necessities and a quality of life for their families.

The third key element is in creating a P&S Economy is SLRS (Sufficient Laws, Regulations and Services) which enable and protect our people, businesses, institutions, economy, and environment while providing a level playing field and opportunities for our people and businesses.

Fundamentals

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