California Asset Building: Latest Articles

The word "foundation" usually evokes the same stereotypes.

Swanky offices on the upper floors of downtown buildings. And power-suited program officers who write checks to organizations that "serve" people the foundation staff will never meet, but are neatly categorized as "underprivileged," "homeless," or "teen mothers."

But the Jacobs Family Foundation, a $21 million family fund created to revitalize a southeastern San Diego neighborhood called "The Diamond," wanted to turn that model upside down. Frustrated by the limited results they achieved by… more

We can all agree $1.3 billion is a lot of money. Divide it among 750,000 working poor Californians and it's still a lot -- about $1,700 per family. That's how much the IRS estimates eligible Californians missed out on last year from our country's largest resource for low-income people -- the Earned Income Tax Credit. With Gov. Arnold Schwarzenegger's proposed budget threatening significant cuts in social programs, California should do much more to let people know about this critical resource.… more

Even in this era of dwindling public resources, California can take significant steps to encourage its residents to save and invest in themselves. The following are a sampling of cost-effective, asset-building policies. Most are from other states, which are ahead of California in this emerging policy area. These recommendations would bolster the economic security of the state and its 35 million residents.

Create a system of voluntary retirement accounts for businesses and individuals. Only 39 percent of California workers participate in… more

California's leaders need to cut a new deal with struggling families: If you're willing to work and save, we'll help you own a private investment account, accumulate wealth and control your own economic future. And to California's kids, leaders should say: We'll get you started on a path of saving and investment from the day you are born, make sure your school teaches you how this economy works, but it's up to you to make smart investments in your future… more

Veteran antipoverty activist Maurice Lim Miller had never met Oakland Mayor Jerry Brown. So when Miller's home phone rang late one night in 2000, he was surprised to find one of America's best-known municipal leaders on the line.

Brown was fuming. Oakland's programs to help its poor become more economically self-sufficient weren't working. A recent city department request for $10 million looked to him like "poverty pimping," creating 125 jobs for City Hall bureaucrats but barely benefiting the youth it… more