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Her 2021 book, “The Whiteness of Wealth,” explores the ways U.S. tax policy impoverishes Black people and widens the racial wealth gap in multiple ways, including disparities in tax breaks and ...
The homeownership rate gap between Black and white Americans was the same in 2020 as it was in 1970 — two years after the passage of the Fair Housing Act of 1968, according to the U.S. Treasury ...
The tax would raise around $2.75 trillion over 10 years, roughly 1% of GDP on average per yearuld raise the total tax burden for those subject to the wealth tax from 3.2% relative to their wealth under current law to about 4.3% on average, versus the 7.2% for the bottom 99% families. [79]
The tax was expected to raise around $2.75 trillion over 10 years, roughly 1% GDP on average per year. This was expected to raise the total tax burden for those subject to the wealth tax from 3.2% relative to their wealth under current law to about 4.3% on average, versus the 7.2% for the bottom 99% families. [109]
Decades after the civil rights movement, African Americans still hold a fraction of the wealth of white Americans. Why? Here's everything you need to know:How big is the gap? It's staggering. The ...
The sales tax rate, as defined in the legislation for the first year, is 23% of the total payment including the tax ($23 of every $100 spent in total—calculated similar to income taxes). This would be equivalent to a 30% traditional U.S. sales tax ($23 on top of every $77 spent—$100 total, or $30 on top of every $100 spent—$130 total). [5]
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The discriminatory practices of 1940 through 1970 still reverberate today, as the average White family has roughly ten times the amount of wealth as the average Black family. [ 63 ] [ 67 ] [ 69 ] As Bittker claims in his book The Case for Black Reparations , "as slavery faded into the background, it was succeeded by a caste system embodying ...