Biden Tax Hike, Because.... Why?
[B]Biden Admin Justifies Tax Hike Based On Racial Criteria[/B]
[quote]The Biden administration’s analysis of its revenue proposals for fiscal year 2025 argues [B]targeted tax hikes that disproportionately affect white people would ease racial wealth inequality.[/B]
Increasing taxes on capital gains and income-based wealth would reduce racial wealth inequality for black and Hispanic families, the Treasury Department outlined in the analysis published in mid-March.
The Treasury points out that white families disproportionately hold assets subject to capital gains tax or are in a higher tax bracket, meaning a hike in those taxes would benefit black and Hispanic families.
[url]https://www.msn.com/en-us/money/markets/biden-admin-justifies-tax-hike-based-on-racial-criteria/ar-AA1nVC0y?ocid=msedgdhp&pc=EDGEESS&cvid=80917ea191fb4810a6a857126ac14a8d&ei=10[/url][/quote]
[quote]According to the Federal Reserve Bank of St. Louis, in 2024, Black families still only owned about 24 cents for every $1 of white family wealth. [B]Therefore, supporters argue that higher capital gains taxes could contribute to addressing this longstanding disparity.[/B]
[url]https://www.msn.com/en-us/money/markets/biden-s-tax-crackdown-favored-towards-white-people-criticized/ar-AA1nU80r?ocid=msedgntp&pc=U531&cvid=eec4f74a58434782c5dc6b0ea8a2c441&ei=13[/url][/quote]
Take that rich white people! :)
[img]http://media3.giphy.com/media/v1.Y2lkPTc5MGI3NjExNTR0MGp2MzdraGM3NHljMG9xczd4dmk3OXFpcWgxdGdrM3FodHpzYiZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw/8vpeyWA3OWOhG/giphy.gif[/img]