2014 Fiscal Forum a huge success; Reich steals show, wins hearts and minds on income inequality
Robert Reich, speaking to attendees of the 2014 Colorado Fiscal Forum.
Hundreds of Coloradans gathered Friday for what became an amazing day focusing on income inequality,the state budget, TABOR refunds and how to measure economic well-being.
Many came to CFI’s 2014 Colorado Fiscal Forum at the History Colorado Center to see former labor secretary Robert Reich. But they came away with so much more.
Natalie Mullis, the Colorado Legislative Council’s chief economist, explained the current, recovering status of the state budget. But she also explained how, even with rebounding revenues, the state’s increasing caseloads will outpace revenue growth because of an ongoing structural imbalance in the budget.
Meanwhile, the state will likely trip the revenue limit under TABOR as soon as the end of the current fiscal year, Mullis said, triggering refunds.
A panel featuring attorney Dee Wisor and Legislative Council Director Mike Mauer explained how tax refunds have been given out historically and what the current process is.
A presentation by CFI Economist Chris Stiffler introduced a new economic concept to most attendees: GPI, or the Genuine Progress Indicator. GPI is meant to do what GDP, or Gross Domestic Product, can’t – measure economic well-being.
Reich was the day’s big draw, with his riveting presentation on income inequality in the United States. His message that even the wealthy do better when there is a thriving middle class made a huge impression on the audience.
Reich’s appearance was followed by a screening of his award-winning documentary, “Inequality for All,” that left audience members stunned at times with shocking statistics on the now historic level of income disparity in the U.S.
One participant exclaimed at the end of the day: “Robert Reich is the Martin Luther King of income inequality.”
Check out documents from the 2014 Fiscal Forum here.
