In A Few Thousand Dollars: Sparking Prosperity for Everyone (available now), Prosperity Now founder Robert (Bob) Friedman presents a passionate and practical proposal to build nest eggs for all citizens—without spending an additional dollar or raising the federal deficit.
After more than a decade of a growing gap between rich and poor people in the United States and the passage of a major rewrite to the tax code, Bob's book, with its rich data and analysis and profound compassion for and belief in people, could not come at a more important moment in our history. The distressing fact is that the majority of Americans do not have a few thousand dollars to weather an unexpected illness, job loss, or accident. Most Americans, including up to 80 percent of people of color, are locked out of the mainstream economy, unable to add their talents, work and dreams, unable to share in the bounty of this economy.
Yet, as Bob argues, given a reasonable chance, as little as a few thousand dollars a year, millions of Americans would start businesses, buy and keep homes, go to college, work, save, invest and build the American economy from the bottom up. And we could unleash this potential without spending a dollar more – just by investing current upside down tax subsidies which reward the rich, miss the middle and penalize the poor in everybody’s productive potential.
All Americans need a nest egg, a few thousand dollars, to build a future.
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