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Creating Opportunities



Creating Opportunities Levels the Playing Field...A Letter to the Editor on March 19, 2011 by Rich Ryffel and Ben Akande, Chairman and Vice-Chairman of Beyond Housing's Board of Directors

Recently the pages of the Post-Dispatch have been the stage for a lively debate about income inequality. Thomas Garrett from the St. Louis Federal Reserve spurred the conversation with his paper "U.S. Income Inequality: It's Not So Bad." His perspective was rebutted by Professor Mark Rank from Washington University. Mr. Garrett argued, simplified here, that the rich getting richer does not make the poor poorer and that "if I make more than you, it's not like I've taken from you." Mr. Rank countered with, simplified here, that concentrating enormous wealth in a few hands runs the risk of "distorting democracy" by allowing one's economic power to tilt the financial agenda in his favor.

The truth is that poverty robs people of opportunity — to get an education, to maintain one's health, to spend time with family, to live in a safe environment and to secure one's future in old age. Today, 14.3 percent of all Americans live below the poverty level. According to the U.S. Census Bureau, it is even higher in Missouri. If families never move out of poverty, their lives always will be a struggle.

There is help. Not-for-profits, such as St. Louis' Beyond Housing, work to provide safe, clean, affordable housing, healthy food and integrated social services that enhance and support education, community health and economic development. However, without help from the community, none of us will succeed.

The work of not-for-profits, those on the front line of fighting poverty, is predicated in no small part by the support of those on the top of the income ladder. Financial success often drives charitable giving. Some write a check to right the wrong of the situation, others support missions to defer tax liabilities and some, like our partners (Save-A-Lot Food Stores, Midwest Bank Centre and E.M. Harris), know that providing opportunity for those less fortunate makes good business sense.

Everyone should have the opportunity to reach the highest economic heights. We don't begrudge the wealthy or believe they should have the playing field tilted in their favor. But creating opportunities for families struggling today to have a successful life for themselves and their children can happen only when people lend a hand.

Richard Ryffel • St. Louis Chairman of the Board, Beyond Housing

Benjamin Akande • Webster Groves Dean, George Herbert Walker School of Business and Technology, Webster University