We voted. We organized. We TikTok-ed.
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"We are in an unprecedented moment in time…but often we are not at the table to access those opportunities to help our entrepreneurs on how to access those resources. We need to think about helping our entrepreneurs pivot.”
– Abigail Golden-Vazquez, Senior Fellow at Prosperity Now
John, that’s just one small highlight from our discussion last week about cultivating Latinx and Indigenous voices in entrepreneurship. If you haven’t already, you can catch our recording of the live event, here and leave a comment on what you found helpful and other topics you want us to organize around.
This past month has already been full of inspirational and exciting moments:
We voted for racial economic justice and for the transformative economy we want to see;
We launched the Economic Opportunity Narrative Change Coalition with the Camber Collective to confront and shift harmful narratives around those most marginalized from our economy; and
We unveiled the official Prosperity Now TikTok to bring in more changemakers for racial economic equity to our growing community – dance moves may or may not be included.
I’m constantly inspired by our staff and our movement. We hope this edition of our newsletter fuels you to keep on keeping on for racial economic justice.
In solidarity,
Gary Cunningham
President & CEO
Prosperity Now
Changing the Narrative: What We’re Working Against in our Fight for Racial Economic Justice
The recent launch of the Economic Opportunity Narrative Change Coalition by Prosperity Now and Camber Collective was an exciting moment for the movement to create economic opportunity in the United States. The coalition aims to bring together a group of changemakers with diverse skills and impact tools under a coordinated effort to evolve the false narratives that warp perceptions of economic opportunity and deservedness, including beliefs unsupported by data or rooted in racial myths.
...So why now?
Prosperity Now and Camber Collective know that this coalition is needed to:
Overcome the fragmented nature of current efforts to change the narrative around economic opportunity.
Respond to the stated need of field organizations, at a time of unprecedented opportunity for impact.
Disseminate and leverage the growing body of narrative change tools at our disposal.
Five Prevailing False Narratives to Overcome
- Assumed Inadequacy – “economic marginalization happens due to individual faults (e.g. laziness) and bad choices.”
- Welfare Stigmatization – “Economically unsuccessful people abuse public benefit programs for their own gain.”
- Meritocratic Idealism – “If I can achieve the American Dream, so can anyone.”
- Paternalistic Mistrust – “People who live in poverty can’t be expected to know what is really best for them or their families.”
- Fatalistic Apathy – “We won’t have the power to change economic outcomes anyway.”
Together, we can ensure widespread recognition of the systemic causes of economic inequality and majority support for structural changes to advance economic opportunity for all. We hope you will join us as we co-develop and implement strategies, campaigns, and playbooks required to establish and scale accurate and equity-centered economic narratives.
To learn more about the Economic Opportunity Narrative Change Coalition, check out the webinar we hosted to introduce the coalition.
Tell Congress That Their Work for 2022 Is Not Yet Done and #BuildBackForJustice
Last week, millions of us voted for the values we believe in, values of equity in justice. Now it’s time for Congress to stand by these values and invest in children and families—especially in BIPOC communities—by supporting the Child Tax Credit expansion.
Join us tomorrow, November 17 at 1 PM ET for a #BuildBackForJustice Day of Action on Twitter and lend your voice to the fight. Use our toolkit here to help craft your messages.
You Asked, We Answered: Baby Bonds Edition
As one of the organizations leading the push for Baby Bonds at the national and state level, Prosperity Now has created a guide answering the questions we most often receive about this innovative policy to address the racial wealth divide. The guide provides information on what Baby Bonds are, how they would work in practice, and what impact they could have. Our Policy Fellow, Shira Markoff, was also recently featured in an article in The Chronicle of Philanthropy, which explores Baby Bonds' origins and the growing interest in Baby Bonds programs among states.
Get the answers to your burning Baby Bonds-related questions in our FAQ document here.
Resources for John
Committing to Better Understanding Native Communities this Native American Heritage Month | Prosperity Now
This Native American Heritage Month, we are acknowledging the ways Indigenous people have been excluded from economic prosperity and committing to a more inclusive community for all.
9 Charts that Explain Wealth Inequality in the United States | Aspen Institute
Aspen Institute’s charts on wealth inequality show that it continues to rise and that the benefits of economic growth are not enjoyed equitably or by all.
On the Road to Racial and Economic Justice | Asset Funders Network
This primer from the Asset Funders Network provides a “baseline understanding of the link between racial and economic justice and examines how standard philanthropic practices often perpetuate bias within our sector while disadvantaging initiatives led by people of color.”
Race & Equity in America: Annual Attitudinal Research | PolicyLink
An annual study conducted by PolicyLink. This year’s discusses American opinions on homelessness, root causes of poverty, and the housing crisis.
A Possible Bipartisan Compromise on the Extended Child Tax Credit? | Spotlight on Poverty & Opportunity
This report highlights the potential for a bipartisan Child Tax Credit (CTC) to pass after the Senate failed to continue the CTC this year.
Policymakers Should Expand Child Tax Credit in Year-End Legislation to Fight Child Poverty | Center on Budget and Policy Priorities (CBPP)
Experts from the CBPP argue that any new federal tax provisions must be accompanied by CTC expansion to help alleviate childhood poverty.
We're Out Here (In the Media)
- Amsterdam News: Congress went on recess––but the kids keep missing out, Gary Cunningham, President & CEO
- B|E Note: Groundbreaking Inclusionary Zoning Study & Report Released, Prosperity Now
- Yahoo! Finance, Higher 401(k) contribution limits mean little to many workers, Joanna Ain, Associate Director of Policy
- Deep Conversations Podcast, Interview w/ Washinton DC's City of Alexandria City Commissioner Ms. Lauren Bealore!, Lauren Bealore, Associate Director of State & Local Policy
- Sunday Civics, Using Data to Lead a Black Wealth Renaissance, Gary Cunningham, President & CEO
- Building Up Black-Led CDFIs: A Roundtable Discussion on Community-Led Banking Recordings:
