Last October, I put forward a plan to fund universal Pre-K and expanded after-school with a small tax surcharge on New Yorkers making more than $500,000 a year. It may not be popular at a lot of fancy cocktail parties -- here are five reasons why I'm okay with that.
#1: For literally pennies on the dollar, we can forever impact the lives of thousands.
If the top 1 percent of New Yorkers dig a little bit deeper into their pockets, 50,000 more four-year-olds would receive full day Pre-K education and 120,000 middle school students would have access to after-school programs. Ninety-nine percent of New Yorkers won't pay any more money in taxes.
#2: Our competitors in the global economy aren't waiting for us to catch up.
Our economic future depends on having one of the best trained, best-educated workforces in the world -- and this starts with Pre-K. By 2020, China will enroll 70 percent of children in three years of pre-school. India will have twice as many children prepared to learn on their first day of school by 2018. But in New York City, tens of thousands of children do not receive any Pre-K. We can't lag behind if we want to lead the world's economy.
#3: Leaving 50,000 children behind is inexcusable.
Kids who receive early education are 20 percent more likely to graduate high school and 20 percent more likely to work their way out of poverty. Our children shouldn't spend those formative years playing catch-up -- they should be absorbing new skills and getting a jumpstart on their academic path. Under my plan, we can ensure all four-year olds have access to truly universal Pre-K for the first time in New York City's history.
#4: Helping our kids succeed helps working parents.
Every day at 3:00 p.m., thousands of students -- many of whom need academic help -- leave school and stop learning. This is a missed learning opportunity, especially during a transitional period like middle school. It's also a mismatch to the schedules of today's working parents, most of whom don't come home until later in the evening. My plan would expand after-school programs to nearly 120,000 students, keeping kids off the streets and out of trouble, and providing help and peace of mind for moms and dads across New York City.
#5: Some of the wealthiest New Yorkers have already offered to pay more.
Several "Patriotic Millionaires" have stepped up and embraced an increase their taxes, here's what they have to say:
"Quality education is the great 'leveler' of society and the very foundation of the American Dream -- it's also consistent in every way with America's progressive tradition," said Leo Hindery, Jr., Patriotic Millionaire and Managing Partner of InterMedia Partners, LP. "How ironic and tragic then that when the extremely wealthy of New York City are asked to pay even modestly more taxes to ensure quality public education for all the city's children, many of them abandon these traditions. It really is (past) time to 'get real' -- and to be fair!"
- Leo Hindery Jr., of InterMedia Partners
We must foster creativity in children. A little more in taxes for earlier and better education is our best investment for a smarter future. I'd be overjoyed paying a slightly higher tax for the exponential effect of creating wiser children."
- Lawrence Benenson, Patriotic Millionaire and Partner at Benenson Capital.
"Education is the key I am honored to help."
- Patriotic Millionaire Brooke Garber Neidich said simply,
In today's economic climate -- with the Dow Jones reaching record highs, while hundreds of thousands of New Yorkers struggle with unemployment -- bold action is needed to curb growing income inequality. Asking the wealthiest New Yorkers to help is simply the right thing to do.
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