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The Leadership Conference on Civil and Human Rights

The Nation's Premier Civil and Human Rights Coalition

The Leadership Conference on Civil and Human Rights  & The Leadership Conference Education Fund
The Nation's Premier Civil and Human Rights Coalition

New Report Outlines Steps to Strengthening the Economy through Shared Prosperity

August 1, 2012 - Posted by Willie Roberson

Policies that promote job growth, economic security, and democracy are the foundation for an economy that will benefit all, according to a new independent report by Professor Jacob Hacker and Nathaniel Loewentheil of Yale University. The report was released Tuesday at an event hosted by the Economic Policy Institute, a nonpartisan think tank in Washington, D.C.

"Prosperity Economics: Building an Economy for All" debunks the myths behind austerity measures such as cutting social welfare programs, weakening labor, environmental, and financial regulations, and providing additional tax cuts to the wealthy. Instead of austerity, the report makes a strong case for public investments in education and science and for policies that create security and foster a more balanced distribution of wealth.

The report specifies three distinct ways to restore the U.S. economy and create a successful future for generations to come.

  • Innovation-led growth grounded in job creation, public investment and broad opportunity;

  • Security for workers and their families, the environment and government finances; and

  • More democracy, inclusivity, and accountability in Washington and the workplace.

Among the report’s specific proposals to achieve these goals are:

  • Invest $250 billion per year over the next six years to strengthen the nation’s roads, bridges, ports and public transportation systems;

  • Enact a financial transaction tax to reduce Wall Street speculation that leads to dangerous financial bubbles;

  • Strengthen the rights of workers to bargain over wages and benefits;

  • End the Bush-era tax cuts for the wealthiest 2 percent of Americans; and

  • Strengthen the Affordable Care Act by including a “public option” that allows consumers to buy insurance directly from the government.

"There are many concrete steps that we can and must take to begin to turn the tide on this national crisis," said Wade Henderson, president and CEO of The Leadership Conference on Civil and Human Rights. "By restoring the key pillars of shared prosperity—dynamic, inclusive, innovation driven growth; individual and society wide security; and a democracy that works for all of us—we can chart a new course for America’s future."

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