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Congress Can't Miss This Chance To Close the Biggest Tax Loophole for the Ultrawealthy

Congress Can't Miss This Chance To Close the Biggest Tax Loophole for the Ultrawealthy
americanprogress.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanprogress.org Daily Mail and Mail on Sunday newspapers.

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SOI Tax Stats - SOI Bulletin: Spring 2021 | Internal Revenue Service

The Statistics of Income (SOI) Bulletin is issued quarterly by the Statistics of Income Division of the Internal Revenue Service. The report provides the earliest published annual financial statistics obtained from the various types of tax and information returns filed, as well as information from periodic or special analytical studies of particular interest to students of the U.S. tax system, tax policymakers, and tax administrators. Selected historical and other data tables, previously published in the spring issue of the Bulletin are now only available on SOI’s pages of the IRS Website. ....

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Wealth Gaps Between White, Black And Hispanic Families In 2019

Wealth Gaps Between White, Black And Hispanic Families In 2019
from the St Louis Fed
this post authored by Ana Hernandez Kent, Senior Researcher, Center for Household Financial Stability; and Lowell R. Ricketts, Data Scientist, Center for Household Financial Stability
Education, family structure, and generation status are related to how much wealth a household has. But regardless of which kinds of those characteristics they have, non-Hispanic Black and Hispanic (of any race) families in the U.S. have large and persistent wealth gaps with non-Hispanic white families (hereafter, Black, Hispanic, and white, respectively).
We analyzed 2019 data, the latest available from the Federal Reserve Board’s Survey of Consumer Finances (SCF),1 on family wealth, or what a family owns minus what they owe. We based a family’s demographic characteristics on those of the survey respondent, who is generally the most financially knowledgeable person in the household. ....

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