Tax code isn’t neutral on race, researchers find
Follow the lines of the IRS Form 1040, and a picture emerges of an America divided economically by race and ethnicity.
For example, in 2018, the treatment of capital gains overwhelming benefited wealthier white families. Tax breaks for retirement savers and homeowners contribute to the wealth divide and also disproportionately go to high-income white taxpayers.Workplace retirement plans — such as a 401 — have helped a lot of people accumulate wealth. But African American and Hispanic workers are less likely to have access to this tax-favorable benefit.
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