Giving Compass' Take:
- · Jocelyn Harmon and Jeremie Greer explain how the US tax code contributes to inequality and what can be done to reduce these effects.
- · How could fair tax spending help all communities and provide better access to opportunity?
- · Read more about the call for tax advocacy for all.
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What do millions of people who occupied Wall Street, felt the “Bern,” wore pink hats with pointy ears, and donned baseball caps with the slogan “Make America Great Again” have in common? They are all concerned about wealth inequality.
Today, the top 1 percent of Americans have more than half the nation’s wealth. The wealth gap is especially wide for people of color: The wealthiest 400 Americans own more wealth than the entire black population and a third of all Latinos combined.
From a practical perspective, this means that millions of low- and moderate-income young adults are not getting to and through college. Millions of low- and moderate-income families can’t afford stable homes, and small business owners are going out of business.
One major culprit? Our US tax code.
Read the full article about America's tax code by Jocelyn Harmon and Jeremie Greer at the Ford Foundation.