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Dr. King Fought Inequality - Public Financial Officers Should Continue His Legacy
Guest Column by OJ Oleka
Today, many Americans around the country are embracing the legacy of service of one of our great American heroes, Dr. Martin Luther King, Jr. But Dr. King was not just a man who committed his life to serving others. Dr. King committed his life to fighting for a just cause: eradicating racial and economic inequality in the United States.
One of Dr. King's most famous quotes is, "the arc of the moral universe is long, but it bends toward justice." In many ways, that is how the reputation of Dr. Martin Luther King Jr. has proceeded since his death on April 4th, 1968. Dr. King was not very popular when he was assassinated. Having recently turned his attention to opposing the Vietnam conflict and supporting pro-union economic policies, a Harris poll conducted in early 1968 showed that Dr. King was unpopular with nearly 75% of respondents. Yet, in the decades after his death, the American people began to appreciate the hard stances that Dr. King took early in his career, particularly on racial and economic inequality. Americans, I believe, also have a moral arc that bends towards justice. Inevitably, a man like Dr. Martin Luther King, Jr., who sacrificed so much to improve his country, would eventually become appreciated by his countrymen. But what about his fight against racial and economic inequality?
Poverty is racially inclusive. It attacks every person of every race, geographic setting, zip code, and background. The National Center for Children in Poverty estimates that 21% of American children - 15 million kids - live in families that live under federal poverty thresholds. Economic inequality is a public menace, and state financial officers are perfectly positioned to fight against it. If Dr. King were alive today, I believe this would be a fight he would wage with every ounce of his being. But since he is not, someone must pick up the mantle.
State financial officers, especially those who are believers in free markets and
opportunity for all, are perfectly
positioned to carry on Dr. King's fight against economic inequality. Each can do so through their own just cause: advocating financial empowerment for every American through an efficient state government for every taxpayer. Financial officers involved in the
State Financial Officers Foundation
are already poised to lead the way on this cause. Through initiatives like
Smart Women Smart Money
, programs like unclaimed property, and proposals focusing on financial literacy, state financial officers can use the convening powers of government to shine a light on private sector non-profits and businesses that are positively transforming lives of people in poverty or financial distress. As trusted public figures on financial matters and statutory guardians of public funds, state financial officers can ensure public dollars are spent prudently. That way, every dollar possible can be used for reasonable public investments that improve life outcomes, such as education and infrastructure, without constantly asking the public to pay more in taxes. Financial empowerment and fiscal restraint can maximize resources to provide people in poverty a pathway toward economic mobility and financial independence. Some of these positions might not be popular in the moment, but neither was fighting for racial and economic inequality. We should never allow what is unpopular to stop us from doing what is right.
As we honor Dr. King and reflect on his life and legacy, state financial officers should take up the just cause of fighting to end economic inequality in each of their states. The public would be better for it, and I believe it is where the moral arc of this country must lead. Now, more than ever, we need leaders in government who believe, as Dr. King did, that every American should be valued, and every life has meaning. State financial officers should continue that legacy.
OJ Oleka is the president of the Association of Independent Kentucky Colleges and Universities (AIKCU) and former Deputy Treasurer of Kentucky. He is also a member of the Smart Women Smart Money National Advisory Council.
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