Opportunity Impact Statement: Ensuring an Economy that Works

Americans prioritize finding solutions for our economy and job creation, and it is clear that we need an economy that works for all of us. This means building the jobs and the infrastructure that will create equal opportunities for success for all Americans. In order to make smart and necessary decisions about how and where we spend our money, we need to evaluate the impact of spending, while also honoring our commitment to avoid engaging in discrimination.

Using a tool that evaluates public spending—what we call an Opportunity Impact Statement (OIS)—at all levels of government can ensure that government looks at where investment is needed most before actually spending funds, whether it’s for job creation, building out transportation to jobs, or schools. This would ensure that all Americans have access to the building blocks of opportunity. The American Constitution Society has published an issue brief by The Opportunity Agenda on these statements. As described in the brief, “[a] coordinated process is needed to ensure that public funding complies with anti-discrimination laws and not only confronts barriers to opportunity that affect regions throughout the United States, but also builds the foundation necessary to give all communities a chance to achieve economic security and mobility.”

We describe in the brief ways for administrative agencies to use an OIS process as part of their evaluation of ongoing and proposed government funded projects and programs, with detailed examples related to housing and transportation. Read the brief here to learn about ways to use this flexible tool to promote opportunity as we build our economy.

 

 

"Job Creator" Speaks Out

Nick Hanauer, venture capitalist, 1%-er: I'm not a job creator, raise my taxes!

Since 1980, the share of the nation’s income for fat cats like me in the top 0.1 percent has increased a shocking 400 percent, while the share for the bottom 50 percent of Americans has declined 33 percent. At the same time, effective tax rates on the superwealthy fell to 16.6 percent in 2007, from 42 percent at the peak of U.S. productivity in the early 1960s, and about 30 percent during the expansion of the 1990s. In my case, that means that this year, I paid an 11 percent rate on an eight-figure income.

One reason this policy is so wrong-headed is that there can never be enough superrich Americans to power a great economy. The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the average American, but we don’t buy hundreds or thousands of times more stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, I go out to eat with friends and family only occasionally.

It’s true that we do spend a lot more than the average family. Yet the one truly expensive line item in our budget is our airplane (which, by the way, was manufactured in France by Dassault Aviation SA (AM)), and those annual costs are mostly for fuel (from the Middle East). It’s just crazy to believe that any of this is more beneficial to our economy than hiring more teachers or police officers or investing in our infrastructure.

Crazy enough that Frank Luntz has hit the panic button.

 

"Job Creator" Speaks Out

Nick Hanauer, venture capitalist, 1%-er: I'm not a job creator, raise my taxes!

Since 1980, the share of the nation’s income for fat cats like me in the top 0.1 percent has increased a shocking 400 percent, while the share for the bottom 50 percent of Americans has declined 33 percent. At the same time, effective tax rates on the superwealthy fell to 16.6 percent in 2007, from 42 percent at the peak of U.S. productivity in the early 1960s, and about 30 percent during the expansion of the 1990s. In my case, that means that this year, I paid an 11 percent rate on an eight-figure income.

One reason this policy is so wrong-headed is that there can never be enough superrich Americans to power a great economy. The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the average American, but we don’t buy hundreds or thousands of times more stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, I go out to eat with friends and family only occasionally.

It’s true that we do spend a lot more than the average family. Yet the one truly expensive line item in our budget is our airplane (which, by the way, was manufactured in France by Dassault Aviation SA (AM)), and those annual costs are mostly for fuel (from the Middle East). It’s just crazy to believe that any of this is more beneficial to our economy than hiring more teachers or police officers or investing in our infrastructure.

Crazy enough that Frank Luntz has hit the panic button.

 

"Job Creator" Speaks Out

Nick Hanauer, venture capitalist, 1%-er: I'm not a job creator, raise my taxes!

Since 1980, the share of the nation’s income for fat cats like me in the top 0.1 percent has increased a shocking 400 percent, while the share for the bottom 50 percent of Americans has declined 33 percent. At the same time, effective tax rates on the superwealthy fell to 16.6 percent in 2007, from 42 percent at the peak of U.S. productivity in the early 1960s, and about 30 percent during the expansion of the 1990s. In my case, that means that this year, I paid an 11 percent rate on an eight-figure income.

One reason this policy is so wrong-headed is that there can never be enough superrich Americans to power a great economy. The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the average American, but we don’t buy hundreds or thousands of times more stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, I go out to eat with friends and family only occasionally.

It’s true that we do spend a lot more than the average family. Yet the one truly expensive line item in our budget is our airplane (which, by the way, was manufactured in France by Dassault Aviation SA (AM)), and those annual costs are mostly for fuel (from the Middle East). It’s just crazy to believe that any of this is more beneficial to our economy than hiring more teachers or police officers or investing in our infrastructure.

Crazy enough that Frank Luntz has hit the panic button.

 

"Job Creator" Speaks Out

Nick Hanauer, venture capitalist, 1%-er: I'm not a job creator, raise my taxes!

Since 1980, the share of the nation’s income for fat cats like me in the top 0.1 percent has increased a shocking 400 percent, while the share for the bottom 50 percent of Americans has declined 33 percent. At the same time, effective tax rates on the superwealthy fell to 16.6 percent in 2007, from 42 percent at the peak of U.S. productivity in the early 1960s, and about 30 percent during the expansion of the 1990s. In my case, that means that this year, I paid an 11 percent rate on an eight-figure income.

One reason this policy is so wrong-headed is that there can never be enough superrich Americans to power a great economy. The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the average American, but we don’t buy hundreds or thousands of times more stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, I go out to eat with friends and family only occasionally.

It’s true that we do spend a lot more than the average family. Yet the one truly expensive line item in our budget is our airplane (which, by the way, was manufactured in France by Dassault Aviation SA (AM)), and those annual costs are mostly for fuel (from the Middle East). It’s just crazy to believe that any of this is more beneficial to our economy than hiring more teachers or police officers or investing in our infrastructure.

Crazy enough that Frank Luntz has hit the panic button.

 

Diaries

Advertise Blogads