Our Finance Guide
  • Home
  • Loans
  • Tax
  • Credit Cards
  • Investing
No Result
View All Result
  • Home
  • Loans
  • Tax
  • Credit Cards
  • Investing
No Result
View All Result
Our Finance Guide
No Result
View All Result
Home Tax

Limiting Tax Breaks for Capital Gains Would Mitigate the Racial Wealth Gap

admin by admin
October 15, 2021
in Tax
0
Limiting Tax Breaks for Capital Gains Would Mitigate the Racial Wealth Gap

This report comes in the wake of proposals from President Biden, Senate Finance Committee Chairman Ron Wyden, and House Ways and Means Committee Chairman Richard Neal to reform the preferential treatment of investment income in the nation’s tax code. Their proposals include limiting the stepped-up basis rule that allows wealthy families to avoid taxes on unrealized capital gains when a family member dies, taxing capital gains received by millionaires at the same rate as ordinary income, and taxing the ultra-wealthy on their unrealized capital gains each year as they accrue.

ITEP’s analysis of the Federal Reserve’s 2019 Survey of Consumer Finances finds that unrealized capital gains in excess of $2 million (the income most likely to be affected by the president’s proposal to tax some taxpayers’ unrealized gains at death) mostly flows to a small number of white families. Assets like stocks, real estate, and private business equity that produce significant capital gains (both realized and unrealized) are also highly concentrated among white families.

Related articles

Score Payday loans Relief into the Denver, Texas within the super easy

Where Is the Economy Heading? Velocity of Money Provides Clues

admin

admin

Related Posts

Score Payday loans Relief into the Denver, Texas within the super easy

You can find forms of cash advance save one to Texas citizens can use to save money. Cash advance will appear to be what you want...

Where Is the Economy Heading? Velocity of Money Provides Clues

Retiring in a Slowing Economy? 3 Steps Can Help You PrepareVelocity of money is the rate at which money is being spent in the economy. It...

The Surprising Asset You Can Use for Tax-Loss Harvesting

Bonds have taken a beating in 2022, but the damage to your portfolio may be less than meets that eye, provided you handle those losses in...

City Council may consider a small property tax hike

Evanston City Council members may be returning to consider a small property tax increase to put police and fire pension funds on a 100% track toward...

Business Tax Credits Your Business May Qualify For

One of the most complicated parts of running a small business is figuring out your taxes. Most business owners are worried about ensuring they pay enough...

Next Post
The Different Types of Credit Cards Explained

The Different Types of Credit Cards Explained

New to Investing? This 1 Building Products Stock Could Be the Perfect Starting Point

New to Investing? This 1 Building Products Stock Could Be the Perfect Starting Point

You can use ‘buy now, pay later’ almost anywhere you make a purchase — here are the pros and cons

You can use 'buy now, pay later' almost anywhere you make a purchase — here are the pros and cons

No Result
View All Result

Subscribe Us

By clicking subscribe, I authorize: (1) Our Finance Guide to use and share my information in accordance with its Terms of Service and Privacy Policy, and (2) Our Finance Guide or third-party companies, including Our Finance Guide’s business partners, to contact me by email with offers for goods and services at the email address provided. Please note that the information you have provided to us may be supplemented with additional information obtained from other sources.

RECOMMENDED

Uncategorized

Once You Have F You Money, It’s Hard To Tell Others To F Off!

Cramer’s Investing Club: What we learned this week and what we are watching next week
Loans

Student-loan forgiveness would mean everything to Latinx students stuck in a debt cycle

CATEGORIES

  • Credit Cards
  • Investing
  • Loans
  • Tax
  • Uncategorized

Subscribe Us

By clicking subscribe, I authorize: (1) Our Finance Guide to use and share my information in accordance with its Terms of Service and Privacy Policy, and (2) Our Finance Guide or third-party companies, including Our Finance Guide’s business partners, to contact me by email with offers for goods and services at the email address provided. Please note that the information you have provided to us may be supplemented with additional information obtained from other sources.

© 2022 Our Finance Guide, All Rights Reserved.

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe
No Result
View All Result
  • Home
  • Loans
  • Tax
  • Credit Cards
  • Investing

© 2022 Our Finance Guide, All Rights Reserved.