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In purely
economic terms, look at the difference in earning capacity based on
educational achievement. Someone with
a bachelor’s degree will earn nearly one million dollars more in 1999
dollars over their 40 year work life
than the high school grad. That is the difference between a
comfortable life with piano lessons for your kids and living without health
insurance, driving a beater car and feeding your kids soup and crackers for
dinner nite after nite.
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And we do have
drop outs in this state. A recent study by the Gates Foundation shows that
half of all African American, Hispanic and Native American kids in our state
are dropping out of high school.
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And notice how
the value of a bachelors degree and advanced degree continues to increase
even though our workforce is becoming more educated. When we talk about the “two” Washingtons it
is not east vs west; urban vs rural; tech vs agriculture.
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This slide is
the two Washingtons. The top tier can participate successfully in the
technology based economy and the bottom tier cannot.
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To me this slide
explains why Tim Eyman wins elections, and it challenges us to work very hard
to give every child in this state a chance at a college education.
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Thank you.
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40 year
synthetic earnings estimates for full-time, year-round workers, in 1999
dollars:
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High school
dropouts: 1.0 m
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HS degree: 1.2 m
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Some college:
1.5 m
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Associates
degree: 1.6 m
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BA degree: 2.1 m
(more than one-third than workers who did not finish college and nearly 2x as
workers with a HS degree)
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MA degree: 2.5 m
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Doctoral degree:
3.4 m
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Professional
degrees: 4.4 m
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Men vs. women:
difference in salary between men and women:
$350,000 for high school dropouts.
$450,000 for HS graduates and about 2x that amount for BA degree
holders. Men with professional degrees
may expect to earn almost $2m more than their female counterparts over their
work life.
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