White Americans Gain the Most From Trump’s Tax Cuts, a Report Finds [The New York Times]
SVMK INC COMMON (SVMK)
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Source: The New York Times
The differing benefits by race reflect longstanding patterns of economic inequality and the structure of the law President Trump signed last year. By Jim Tankersley Oct. 11, 2018 The tax cuts that President Trump signed into law last year are disproportionately helping white Americans over African-Americans and Latinos, a disparity that reflects longstanding racial economic inequality in the United States and the choices that Republicans made in crafting the law. The finding comes from a new analysis of the $1.5 trillion tax cut using an economic model built by the Institute on Taxation and Economic Policy, a liberal think tank, and released in a joint report with Prosperity Now, a nonprofit focused on helping low-income Americans attain wealth and financial stability. It is the first detailed analysis of the law to break down its effects by race. White Americans earn about 77 percent of total income in the United States, but they are getting nearly 80
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