During Covid, 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.
Covid is 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:
Kelly Phillips Erb created and hosts the Taxgirl podcast, your home for tax news, tax info, and tax policy. In each episode, she shares conversations about taxes, money, and the choices we make. Kelly is a tax attorney who works with taxpayers and tax practitioners like you every day. She helps folks out of tax jams, and hopefully, keeps others from getting into them.
To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.
Kelly’s Website: Taxgirl
George Salis: LinkedIn
Prosperity Now: Website
Prosperity Now Advocacy Center: Website