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‘Economic Suicide’: Biden Admin Justifies Tax Hike Based on Racial Criteria

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The Biden administration's analysis of its revenue proposals for fiscal year 2025 argues targeted tax hikes that disproportionately affect white people would ease racial wealth inequality.

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.

The post ‘Economic Suicide’: Biden Admin Justifies Tax Hike Based on Racial Criteria appeared first on The Connecticut Star.


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