is in crisis.
never been higher.
never been higher.
Since the mid-1970's, CEOs and people
with lots of money invested in the
stock market have done quite well.
Meanwhile, average workers have had
no actual wage increases, rising
job insecurity, and crippling debt.
80% of private wealth in the United States is generational, meaning it is passed on to people that didn't have to work for it.
Because so much wealth is generational, over time, we have segregated wealth and opportunity.
disrepair, and privatization
have taken over our communities.
Opportunity is quickly becoming a luxury.
We believe the economy belongs to everyone. For too long, many of the workers that power our economy have been left out of the decision-making process.
To build a fair economy, we have to understand how we got here in the first place. To do that, we've created:
The primary goal of economic policy since the 1980s was to let the rich accumulate great capital in the belief that it would trickle down. This is often referred to as Reaganomics. This policy has done great to let the rich accumulate more wealth than ever.
In most cases, periods of economic growth have resulted in greater equality, as in the 1950-70s. Over the past 30 years, however, the benefits of a growing economy have been concentrated in an extremely narrow elite at the very top. We haven't seen this happen since the 1920s.
One of the explicit goals of the federal government during the early post-war period was to build a middle class– people and families that could consume the output of the rapidly growing manufacturing capacity of the United Sates. Programs that made this possible, such as the GI Bill of Rights, were funded in large part by relatively high taxes on the wealthy.
Learn more about these government boosts and blocks to building wealth in our resources section >>
During this period,
many of these programs
that built the middle class
were essentially unavailable
to people of color.
For example, the VA and FHA
loan programs for housing,
both of which used racially-restrictive
underwriting criteria, assured
that very little assistance
would go to families of color
through the 1960s. These
loans helped finance over
half of all suburban housing
construction in the country
during this period, however
less than 2% ended up
being lived in by people of color.
Corporations and the 1% have been chipping away at gains made by organized labor since 1937. Laws such as the Taft-Hartley act and intimidation tactics have left union membership at a low seen last in the 1940s.
As a result, even though productivity has soared, wages haven't kept up.
The Supreme Court ruling in Citizens United has basically ruled that corporations are people, and that money is speech. Corporations and individuals can spend an unlimited amount of money to elect whomever they think will benefit them. This is fundamentally undermining our democratic principle of one person, one vote.
Fortunately, people like you are fighting back.
And UFE is fighting alongside you.