#NNPA BlackPress

New Report Exposes Tax System’s Role in Widening Racial Wealth Gap, Calls for Urgent Reforms

NNPA NEWSWIRE — The message from Color of Change and Americans for Tax Fairness is clear: America’s tax system is broken, and without immediate reforms, the racial wealth gap will continue to widen. “Addressing the insidious racial preferences in our tax code is one of the most direct ways we can not only help Black communities grow here and now but for generations to come,” concludes Color of Change Managing Director Portia Allen-Kyle.

Published

1 year ago

September 10, 2024

Stacy M. Brown

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Color of Change, the nation’s largest online racial justice organization, and Americans for Tax Fairness released a damning report Thursday exposing the deep racial inequities entrenched in the U.S. tax system.

The issue brief “How Tax Fairness Can Promote Racial Equity,” written by Color of Change Managing Director Portia Allen-Kyle and Americans for Tax Fairness Executive Director David Kass, exposes the systemic flaws in tax policy that have widened the racial wealth gap and prevented economic mobility for Black, brown, and Indigenous communities.

The report urgently calls for sweeping reforms to stop the flow of tax benefits to the wealthiest Americans — who are overwhelmingly white — while offering concrete solutions to make the tax code work for everyone, not just the top 1%.

“An equitable tax system does two things,” Allen-Kyle asserted. “It narrows the racial wealth gap from the bottom up and spurs economic mobility for Black, brown, and Indigenous individuals and families. Our current tax code fails on both accounts. It’s a prime example of how so-called ‘colorblind’ systems actively prevent Black families from building generational wealth and economic security.”

Tax Code Deepens Racial Disparities, Experts Say

The brief pulls no punches in describing how current tax policies disproportionately benefit wealthy white families, further deepening racial inequalities. By giving preferential treatment to wealth over work, the system locks in economic advantages for white households while leaving communities of color to bear the brunt of these inequities.

“Our tax system is not only failing to address racial wealth inequality, it’s exacerbating it,” Kass warns in the report. “We privilege wealth over work, fail to adequately tax our richest households and corporations, and allow inherited fortunes to compound unchecked by taxation. This perpetuates a legacy of racial inequality.”

The racial wealth gap has exploded in recent years, with the median wealth gap between Black and white households jumping from $172,000 in 2019 to over $214,000 in 2022. Economic crises such as the Great Recession and the COVID-19 pandemic further entrenched these divides, benefiting the already wealthy, while leaving Black, brown and Indigenous communities further behind.

The Racial Wealth Gap and Homeownership

Homeownership, long touted as a primary means of building wealth in America, has failed to deliver for Black families. The report points to factors such as biased home appraisals and a regressive property tax system as key reasons why Black homeowners have been unable to accumulate wealth at the same rate as their white counterparts.

As the brief notes, with critical provisions of the Tax Cuts and Jobs Act (TCJA) set to expire, now is a pivotal moment for tax reform. “We have a once-in-a-generation opportunity to reform our tax system to address racial inequality,” the report states, comparing recent monumental legislation like the Bipartisan Infrastructure Law and the Inflation Reduction Act.

Three Key Reforms to Tackle Racial Inequity

The report lays out three central reforms aimed at curbing the wealth concentration among the ultra-rich and dismantling the racial inequities baked into the tax code:

Taxing Wealth Fairly: The report calls for equalizing the tax rates on wealth and work. Currently, capital gains — profits from investments — are taxed at a far lower rate than wages earned by working people, a disparity that overwhelmingly benefits white households. The vast majority of capital gains income flows to white families, who comprise only two-thirds of taxpayers but receive 92% of the benefits from lower tax rates on investment income.
Strengthening the Estate Tax: The estate tax, which is supposed to curb the accumulation of dynastic wealth, has been weakened over time, allowing large fortunes — primarily held by white families — to grow even larger across generations. The report calls for stronger enforcement of the estate tax to prevent the further entrenchment of wealth and power within a small, overwhelmingly white elite.
Targeting Tax Deductions to Benefit Lower-Income Households: Deductions for mortgage interest, college savings, and retirement accounts disproportionately benefit wealthier, predominantly white households. In order to prevent lower-income and minority households from falling behind due to policies that are currently biased in favor of the wealthy, the brief advocates for restructuring these deductions.

Biden-Harris Administration and Senate Proposals for Change

Both the Biden-Harris administration and Senate Finance Committee Chairman Ron Wyden have proposed addressing the racial wealth gap.

The Billionaire Minimum Income Tax (BMIT) and the Billionaire Income Tax (BIT) would ensure that the wealthiest Americans — who often go years without paying taxes — contribute their fair share. These proposals would raise over $500 billion in revenue over the next decade, which could be reinvested in healthcare, education, and housing for communities of color.

As the report points out, our current tax system is skewed in favor of the ultrawealthy. It allows the rich to avoid paying taxes on the increased value of their investments unless they sell them. They often borrow against these growing fortunes, further delaying taxation, which allows white billionaires to accumulate vast wealth while paying a fraction of what working families pay in taxes.

Defending IRS Funding to Hold the Wealthy Accountable

The report also highlights the critical need to defend IRS funding, restored under the Inflation Reduction Act, which is essential for cracking down on wealthy tax cheats.

Contrary to Republican claims, this funding will not increase tax enforcement on households earning less than $400,000. Instead, it will improve customer service and expand the Direct File program, saving taxpayers significant time and money.

The Biden administration’s restored IRS funding is expected to raise an additional $100 billion over the next decade by ensuring the wealthiest Americans and corporations pay what they legally owe.

A Call for Urgent Action

The message from Color of Change and Americans for Tax Fairness is clear: America’s tax system is broken, and without immediate reforms, the racial wealth gap will continue to widen.

“Addressing the insidious racial preferences in our tax code is one of the most direct ways we can not only help Black communities grow here and now but for generations to come,” Allen-Kyle concludes.

Stacy M. Brown

Posts by Stacy M. Brown

Up Next

California Assembly Passes Sex Trafficking Bill

Don't Miss

California Legislature Passes Law to Protect Incarcerated Pregnant Women

Stacy M. Brown

Click to comment

#NNPA BlackPress

OP-ED: The Dream Cannot be Realized Without Financial Freedom

NNPA NEWSWIRE — Dr. King spent the final chapter of his life pushing the country to face economic injustice. The day before he was tragically assassinated, Dr. King stood with sanitation workers in Memphis to call for economic equality. He helped launch the Poor People’s Campaign because he knew freedom hollowed out by poverty is not freedom at all. Dr. King kept pushing America to match its promises with practical pathways.

Published

5 days ago

January 19, 2026

admin

By Ben Crump

We honor Dr. Martin Luther King Jr. each January with speeches, service projects, and by reciting powerful quotes we know by heart.

But too many Black families will spend much of MLK Day the same way they spend most Mondays.

With the gas tank hovering near empty, hoping the car can go until the next paycheck arrives. With a prescription waiting at the pharmacy counter because they cannot afford the cost.

With a paycheck that has to stretch further than what seems possible.

Dr. King understood that true dignity means being able to afford and build a good life. In one of his clearest reminders, he asked what it means to “eat at an integrated lunch counter” if you cannot “buy a hamburger and a cup of coffee.”

That question still carries weight for many. Personal freedom will not be achieved without financial freedom.

Dr. King spent the final chapter of his life pushing the country to face economic injustice. The day before he was tragically assassinated, Dr. King stood with sanitation workers in Memphis to call for economic equality. He helped launch the Poor People’s Campaign because he knew freedom hollowed out by poverty is not freedom at all. Dr. King kept pushing America to match its promises with practical pathways.

That is the part of his legacy we should sit with this MLK Day.

This work has never been more important or needed. The cost of groceries, rent, and childcare have become an increased burden. And many families go from stable to scrambling with just one unexpected expense.

These realities are on display in a recent national survey commissioned by DreamFi, echoing what so many families already feel so deeply. More than one in four respondents told us they used check-cashing services in the past year. This finding makes it clear that too many households still need simpler and more accessible options for moving money.

The survey also shows how unexpected expenses impact families. Only 41% of Black respondents said they could cover a $1,000 emergency, compared with 56% of white respondents. When a tire blows out, when a child gets sick, when hours get cut, the question is not theoretical. The question is immediate and the impact is real.

We must shine a light on this struggle and work to equip families with tools to build better futures. We must recognize Dr. King’s wisdom and acknowledge that financial stability is a civil rights issue, because financial instability limits the ability to have choices.

The survey also found hope that can guide how we move forward.

Black families are not turning away from the idea of building stability. In fact, they are reaching for it. In the survey, 79% of Black respondents said they sought out financial education in the past six months. Ours is a community hungry for tools and a fair shot at creating a better tomorrow.

So, what does it mean to honor Dr. King right now?

It means we get practical.

It means we expand access to clear, trustworthy financial education that respects people’s time and speaks to real solutions. It means we support savings pathways that help families prepare for emergencies before emergencies arrive. It means we encourage options that make routine transactions easier and less costly, so a family is not paying extra simply to manage their own money.

Most of all, it means we stop treating financial instability as normal. Because normal is not the same as acceptable.

Dr. King asked America to make its promises real. The best way to honor him now is to provide opportunities for everyone to achieve Dr. King’s dream.

Ben Crump is a nationally renowned civil rights attorney and founder of Ben Crump Law. Known as “Black America’s attorney general,” he has represented families in some of the most high-profile civil rights cases of our time, including those of George Floyd, Breonna Taylor, Tyre Nichols, and Ahmaud Arbery. He is also co-founder of DreamFi, a financial empowerment platform focused on helping everyday people build stability through practical resources.

admin

Posts by admin

#NNPA BlackPress

Four Stolen Futures: Will H-E-B Do The Right Thing?

BLACKPRESSUSA – An 18-wheeler carrying H-E-B merchandise struck a disabled car on US 87 near Dalhart, resulting in the deaths of four young Texas women. Dashcam footage shows their hazard lights flashing before impact. As H-E-B points to subsidiary distance, families wait for accountability.

Published

5 days ago

January 18, 2026

Oakland Post

By TotallyRandie
Social Media Correspondent, BlackPressUSA

Eighty thousand pounds of steel doesn’t just collide—it obliterates. While corporate lawyers hide behind the sterile jargon of liability and subsidiaries, four Houston families are left haunted by viral footage of a tragedy that should never have happened. On November 5, 2025, a stretch of US 87 became a crime scene of corporate negligence, claiming four vibrant Texan futures in a heartbeat.

The dashcam footage is a nightmare in real-time. A black Nissan Altima, hazards blinking in a desperate plea for space, crawls along the right lane near Dalhart. The four young women inside did exactly what we are taught to do during an emergency: slowed down and put on hazards. They were then met by an 18-wheeler hauling H-E-B merchandise. The truck plowed into them at full speed—no brakes, no swerve, no mercy.

The lives of Breanna Brantley, Taylor White, Myunique Johnson, and Lakeisha Brown were not just lost; they were stolen. To understand the gravity of this loss, you have to realize these women were just starting their lives.

Breanna Brantley (30): A woman entering the prime of her life, a new chapter of wisdom and growth.
Trending
FILM REVIEW: Yardie
Taylor White (27): A wanderlust traveler and the “glue” for her younger siblings; she was their primary mother figure.
Myunique Johnson (20): Affectionately known as Mimi. Her life was just starting to bloom
Lakeisha Brown (19): A basketball standout set for Blinn College this spring—the beacon of hope meant to rewrite her family’s financial history.

In Texas, political math often attempts to cap the value of a human life, but the $250,000 ceiling suggested by current tort reform is an insult to these families. Breanna, Taylor, Myunique, and Lakeisha were more than just Black women; they were daughters, sisters, and athletes whose lives were abruptly taken away. They deserved milestones—graduations, weddings, and the simple right to grow old—not to be reduced to an apology for a “tragic loss.”

While the dashcam footage suggests an open-and-shut case, Attorney Rodney Jones of Rodney Jones Law Group P.C. revealed in our exclusive interview that reality is far more tangled. The road to justice could be a long, drawn-out process depending on how HEB decides to handle the case.

“This is a senseless accident that could have easily been prevented,” Jones says. “They had the right to possess that lane, and that truck driver had the responsibility to pay attention”. H-E-B is a Texas institution, but its response has triggered deep public outcry. While issuing an apology, the company quickly distanced itself, claiming the carrier wasn’t a “direct” H-E-B truck—despite hauling H-E-B products and being operated by Parkway, a known H-E-B subsidiary.

The driver, Guadalupe Villarreal, reportedly has a history of speeding and prior rear-end accidents. Jones is firm: “I’m looking strictly at his ability to be behind that 18-wheeler. This is a simple matter of a grossly negligent driver and the companies that put him on the road being held accountable.”

“H-E-B can’t bring them back, but they can make sure this never happens again,” Jones argues. “There is no price for a life, but there must be a price for negligence. It’s time for H-E-B to stop pointing fingers and start vetting their drivers properly to protect the public.”

While the public demands criminal charges, Jones notes that the legal wheel turns slowly. However, in the civil arena, H-E-B’s silence is deafening; the company has yet to contact the families directly.

“We desire a speedy resolution so we don’t have to drag this out,” Jones concluded. “H-E-B is a beloved chain here in Texas. Hopefully, they come to the table to resolve this fast. I feel like the longer they make these families wait for closure, the more it should cost.”

The ball is in H-E-B’s court. Will they live up to the Texas-strong values they advertise, or will they let a legal loophole define their legacy?

Bell @TotallyRandie
Multimedia Correspondent & Digital Creator
BlackPressUsa.Com/TotallyRandie.com /Stylemagazine.com

Oakland Post

Posts by Oakland Post

#NNPA BlackPress

Travis Scott Teaches Us How to Give Forward

BLACKPRESSUSA NEWSWIRE It’s not just about the gift under the tree in December; it’s about the skills, the confidence, and the opportunities provided in the months leading up to it.

Published

1 week ago

January 16, 2026

Oakland Post

By TotallyRandie

The fourth quarter of the year is often dubbed “giving season,” and for good reason. As October fades into November, the cultural zeitgeist shifts toward gratitude and the spirit of the holidays. For most, this means making a yearly donation to a local food bank or participating in a toy drive for the less fortunate. But for Houston’s own Travis Scott, “giving season” isn’t a seasonal trend—it’s a sophisticated, year-round blueprint for community empowerment.

Since launching the Cactus Jack Foundation in November 2020 alongside his sister, Jordan Webster, Scott has moved beyond the traditional celebrity check-writing model. While the world watches his every move on global stages, his foundation has been quietly and consistently pouring into the soil that raised him. Whether it’s supporting SWAC baseball athletes or funding the Waymon Webster Scholarship Fund for HBCU students, the mission is clear: provide the resources for the next generation to not just survive, but to lead.

From the Streets to the Stars

This past fall, the foundation took its most ambitious leap yet. In October 2025, Cactus Jack partnered with Space Center Houston—the official visitor center of NASA Johnson Space Center—to launch a first-of-its-kind STEM incubator.

The program was specifically designed for students within the Houston Independent School District (HISD), many of whom come from underserved communities where a career in aerospace often feels like a light-year away. For eight weeks, these middle schoolers weren’t just reading about science; they were living it.

Through a mix of virtual workshops and hands-on sessions at the Cact.Us Design Center and TXRX Labs, students were paired with actual NASA engineers. They weren’t tasked with busywork; they were challenged to solve real-world problems of space habitation, including:

Lunar Water Filtration: Designing systems to purify water on the moon.
Space Habitats: Creating structures designed for food preservation in extreme environments.
Robotics: Developing rovers capable of navigating uneven lunar terrain.

The Power of Being Present

The program culminated in a private showcase at Space Center Houston this past December. Standing alongside retired NASA astronaut and Chief Science Officer Megan McArthur, Scott watched as HISD students presented high-fidelity prototypes. In that room, the disparity usually associated with these neighborhoods vanished, replaced by the technical language of CAD modeling and systems thinking.

But the work didn’t stop at the laboratory. The 6th Annual “Winter Wonderland Toy Drive” at Texas Southern University took place the very next day, showcasing the foundation’s dual-threat approach to philanthropy. While the STEM program looked toward the future, the toy drive took care of the present, putting smiles on the faces of thousands of Houston families with toys, groceries, and essential goods.

“Opportunities like this are being offered to help enrich our students’ lives and inspire them to pursue careers in fields where they can not only thrive but also bring back solutions to their communities.” — Travis Scott

More Than a Headline

Critics and social media skeptics often tweet that “Travis Scott is everywhere but Houston.” The data and the faces of the students at Space Center Houston suggest otherwise. While his music may be a global export, his legacy is being built brick by brick (and circuit by circuit) in HISD classrooms.

By bridging the gap between hip-hop culture and NASA’s high-tech corridors, the Cactus Jack Foundation is teaching us a vital lesson in giving forward. It’s not just about the gift under the tree in December; it’s about the skills, the confidence, and the “out of this world” opportunities provided in the months leading up to it.

Travis Scott may be a global icon, but in Houston, he’s becoming something much more important: a catalyst for the next generation of innovators.