Key Points

To close wealth gaps, the goal is economic and social upward mobility for all, so that people can thrive not simply survive

It is essential to reduce poverty, but racial and gender wealth gaps also must be closed

These gaps are not the result of poor choices, but are the systematic effects of structural racism and gender bias, and policy changes are required to redress them

We can afford to address wealth gaps; we cannot afford not to address them

Kilolo Kijakazi

JANUARY 2-5, 2020

Beyond Poverty Alleviation:
Closing Wealth Gaps

Kilolo Kijakazi, PhD

Fellow of the Urban Institute

To close wealth gaps, the goal is economic and social upward mobility for all, so that people can thrive not simply survive, Dr. Kijakazi reminded the Forum. And upward mobility requires wealth, the remainder between what you have and what you owe. Wealth in the US has increased significantly but is not equally distributed. Unfortunately, many young people at the low end of the spectrum are not able to move up or even stay on the rung of the ladder achieved by their parents. Almost 40% of children who grow up in the bottom 20% of the wealth scale, remain there.

The Root Cause of Wealth Disparity

The Impact of Wealth Disparity

Lower wages and poorer employment opportunities for African American workers means they do not have the margin to save for retirement, participate in pension plans, move upward in the housing market, send their children to better schools, etc. It is noteworthy that, when people of color are paid at the same level as white counterparts, they demonstrate slightly higher participation in 401K plans than wage-matched white workers.

A Solution to Wealth Disparity

 

Speaker Biography

Kilolo Kijakazi, PhD  

Corina Eckl Mulder is the Senate Liaison for the Senate Presidents’ Forum. She is well known to the Forum, having presented the Annual State of the States Review for many years. She developed expertise on state legislatures during her lengthy tenure on the staff of the National Conference of State Legislatures (NCSL). Her NCSL responsibilities included planning training programs for top state legislative leaders, managing the conference’s core programs as director of State Services, and leading the Fiscal Affairs Program. She has written extensively on state budget issues and has been quoted in The Wall Street Journal, The New York Times, Financial Times, USA Today, and The Christian Science Monitor, among others. She has appeared on CBS, CNBC, FOX, ABC, CNN, and spoken on the BBC and National Public Radio. She represented NCSL on assignments to Algeria, France, Germany, South Africa, Indonesia, Nigeria, and Saudi Arabia. Corina holds a Master’s Degree in Public Administration from the University of Colorado in Denver and a Bachelor of Arts degree from CU-Boulder.

CONTACT

Senate Presidents’ Forum

579 Broadway

Hastings-on-Hudson, NY 10706

 

Tel: 914-693-1818

Copyright © 2020 Senate Presidents' Forum. All rights reserved.

JANUARY 2-5, 2020

Beyond Poverty Alleviation:
Closing Wealth Gaps

Kilolo Kijakazi, PhD

Fellow of the Urban Institute

Key Points To close wealth gaps, the goal is economic and social upward mobility for all, so that people can thrive not simply survive It is essential to reduce poverty, but racial and gender wealth gaps also must be closed These gaps are not the result of poor choices, but are the systematic effects of structural racism and gender bias, and policy changes are required to redress them We can afford to address wealth gaps; we cannot afford not to address them

To close wealth gaps, the goal is economic and social upward mobility for all, so that people can thrive not simply survive, Dr. Kijakazi reminded the Forum. And upward mobility requires wealth, the remainder between what you have and what you owe. Wealth in the US has increased significantly but is not equally distributed. Unfortunately, many young people at the low end of the spectrum are not able to move up or even stay on the rung of the ladder achieved by their parents. Almost 40% of children who grow up in the bottom 20% of the wealth scale, remain there.

The Root Cause of Wealth Disparity

The Impact of Wealth Disparity

Lower wages and poorer employment opportunities for African American workers means they do not have the margin to save for retirement, participate in pension plans, move upward in the housing market, send their children to better schools, etc. It is noteworthy that, when people of color are paid at the same level as white counterparts, they demonstrate slightly higher participation in 401K plans than wage-matched white workers.

A Solution to Wealth Disparity

 

Speaker Biography

Kilolo Kijakazi, PhD  

Corina Eckl Mulder is the Senate Liaison for the Senate Presidents’ Forum. She is well known to the Forum, having presented the Annual State of the States Review for many years. She developed expertise on state legislatures during her lengthy tenure on the staff of the National Conference of State Legislatures (NCSL). Her NCSL responsibilities included planning training programs for top state legislative leaders, managing the conference’s core programs as director of State Services, and leading the Fiscal Affairs Program. She has written extensively on state budget issues and has been quoted in The Wall Street Journal, The New York Times, Financial Times, USA Today, and The Christian Science Monitor, among others. She has appeared on CBS, CNBC, FOX, ABC, CNN, and spoken on the BBC and National Public Radio. She represented NCSL on assignments to Algeria, France, Germany, South Africa, Indonesia, Nigeria, and Saudi Arabia. Corina holds a Master’s Degree in Public Administration from the University of Colorado in Denver and a Bachelor of Arts degree from CU-Boulder.

CONTACT

Senate Presidents’ Forum

579 Broadway

Hastings-on-Hudson, NY 10706

 

Tel: 914-693-1818

Copyright © 2020 Senate Presidents' Forum. All rights reserved.

JANUARY 2-5, 2020

Beyond Poverty Alleviation:
Closing Wealth Gaps

Kilolo Kijakazi, PhD

Fellow of the Urban Institute

Key Points To close wealth gaps, the goal is economic and social upward mobility for all, so that people can thrive not simply survive It is essential to reduce poverty, but racial and gender wealth gaps also must be closed These gaps are not the result of poor choices, but are the systematic effects of structural racism and gender bias, and policy changes are required to redress them We can afford to address wealth gaps; we cannot afford not to address them

To close wealth gaps, the goal is economic and social upward mobility for all, so that people can thrive not simply survive, Dr. Kijakazi reminded the Forum. And upward mobility requires wealth, the remainder between what you have and what you owe. Wealth in the US has increased significantly but is not equally distributed. Unfortunately, many young people at the low end of the spectrum are not able to move up or even stay on the rung of the ladder achieved by their parents. Almost 40% of children who grow up in the bottom 20% of the wealth scale, remain there.

The Root Cause of Wealth Disparity

The Impact of Wealth Disparity

Lower wages and poorer employment opportunities for African American workers means they do not have the margin to save for retirement, participate in pension plans, move upward in the housing market, send their children to better schools, etc. It is noteworthy that, when people of color are paid at the same level as white counterparts, they demonstrate slightly higher participation in 401K plans than wage-matched white workers.

A Solution to Wealth Disparity

 

Speaker Biography

Kilolo Kijakazi, PhD  

Corina Eckl Mulder is the Senate Liaison for the Senate Presidents’ Forum. She is well known to the Forum, having presented the Annual State of the States Review for many years. She developed expertise on state legislatures during her lengthy tenure on the staff of the National Conference of State Legislatures (NCSL). Her NCSL responsibilities included planning training programs for top state legislative leaders, managing the conference’s core programs as director of State Services, and leading the Fiscal Affairs Program. She has written extensively on state budget issues and has been quoted in The Wall Street Journal, The New York Times, Financial Times, USA Today, and The Christian Science Monitor, among others. She has appeared on CBS, CNBC, FOX, ABC, CNN, and spoken on the BBC and National Public Radio. She represented NCSL on assignments to Algeria, France, Germany, South Africa, Indonesia, Nigeria, and Saudi Arabia. Corina holds a Master’s Degree in Public Administration from the University of Colorado in Denver and a Bachelor of Arts degree from CU-Boulder.

CONTACT

Senate Presidents’ Forum

579 Broadway

Hastings-on-Hudson, NY 10706

 

Tel: 914-693-1818

Copyright © 2020 Senate Presidents' Forum. All rights reserved.