The War on Wealth

The modern liberal movement has branded itself with an emphasis on fairness and equality. This has led to great social change in the country, notably successful legislation for gay and minority rights. However, the left has parlayed this momentum into the realm of economics, where their interpretations are completely misplaced. Using similar catchphrases to those which accompanied their civil rights triumphs, they have gained much public favorability in economic policies that, when analyzed in depth, are contradictory to their values of fairness and equality. The relatively successful presidential campaign of…

How the Tax Code Can Help Bridge the Racial Wealth Gap

As a volunteer income tax preparer in the Bronx, I’ve worked with residents whose adjusted gross income often drops below the federal poverty line. Many of them are black, and their tax returns usually involve one or two sources of wage income or Social Security benefits. Rarely have they accumulated interest or capital gains, so their wealth is all but non-existent. Unfortunately, this is the story for many black households who hold up to nearly 13 times less wealth than their white counterparts. For them, though, tax season is not…