During the pandemic, those at the top continued to make money while those at the bottom struggled. That’s especially true among minority households with the average white family having as much as eight times the wealth of people of color. That economic inequality hasn’t gone unnoticed, however, with many Americans agreeing it’s gone too far. But with legislation pending, help could be on the way.
The coronavirus pandemic is only growing economic inequality
Rebecca Thompson of Prosperity Now joins Kelly on this episode of the Taxgirl podcast to discuss how to shrink that disparity. From tax credits to encouraging both minority business and homeownership, Rebecca outlines things that can make an impact right now and how pending legislation could go even further.
Listen to Kelly and Rebecca talk about economic inequality:
- What economic inequality means
- How economic inequality is split down racial lines
- What led to that inequality?
- How tax credits can boost homeownership
- What the American Opportunity Accounts Act would do
- The Child Tax Credit
- Getting advances on the Child Tax Credit
- Earned Income Tax Credit
- The VITA program
- How the stimulus bill could improve economic inequality
More about Kelly Phillips Erb:
Kelly is the creator and host of the new Taxgirl podcast series. Kelly is a practicing tax attorney with considerable experience and knowledge. She works with taxpayers like you every day. One of the things that she does is help folks out of tax jams, and hopefully, keep others from getting into them.
Kelly’s Website – Taxgirl
George Salis – LinkedIn
Prosperity Now – Website
Prosperity Now Advocacy Center – Website