To further compound racial inequality, other parts of our tax code essentially function as giveaways to the wealthiest white households. Take the tax deduction for income earned from pass-through businesses. Over half of the savings from this deduction alone accrues exclusively to the top 1% of households, who are mostly white. Similarly, the Institute on Taxation and Economic Policy found that 80% of the savings from Trump’s Tax Cuts and Jobs Act ultimately flowed to white households, with only about 5% of the savings benefiting Black households. Read more
February 11, 2021
New York Amsterdam News: To dismantle white supremacy we must tax the rich
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