Why Is Wealth White?
Racial wealth inequality is no accident of history. Rather, it is the intended result of the southern Democrats in Congress who controlled federal tax policy throughout most of the twentieth century. Beginning in the 1930s, champions of white supremacy, such as Senator Pat Harrison (D-MI), Senator W...
| Publicado en: | Southern Cultures Vol. 28; no. 4; pp. 1 - 28 |
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| Formato: | Artículo |
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University of North Carolina Press
Winter2022
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=161740827&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 161740827 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 10688218 NWZ jtl: Southern Cultures issn: 10688218 maglogo: N pubinfo: dt: Winter2022 vid: 28 iid: 4 pid: 2027 pub: University of North Carolina Press artinfo: ui: 161740827 10.1353/scu.2022.0047 ppf: 1 ppct: 27 formats: fmt: – @attributes: type: T – @attributes: type: P size: 3.5MB tig: atl: Why Is Wealth White? aug: au: Ott, Julia su: Tax expenditures Consumption tax Investors Democratic Party (U.S.) Fiscal policy Income inequality Racial differences sug: subj: Tax expenditures Consumption tax Investors Democratic Party (U.S.) Fiscal policy Income inequality Racial differences keyword: capital gains racial wealth gap structural racism tax expenditures white supremacy ab: Racial wealth inequality is no accident of history. Rather, it is the intended result of the southern Democrats in Congress who controlled federal tax policy throughout most of the twentieth century. Beginning in the 1930s, champions of white supremacy, such as Senator Pat Harrison (D-MI), Senator Walter George (D-GA), and Senator Harry F. Byrd, Sr. (D-VA), turned to an ostensibly race-neutral provision of the US income tax code—the preferential treatment of gains from investment—to uphold their (im)moral economy of "whites-only" wealth. After 1965, these segregationists' successors—particularly Senator Russell B. Long (D-LA) and Senator Lloyd Bentsen (D-TX)—furtively rebuilt and shored up the structure of racial inequality with additional tax breaks (called "tax expenditures") for investors. Our income tax system embodies—and immortalizes—a Jim Crow–era moral economy of "whites-only" wealth. Thanks to pro-investment tax expenditures, the racial wealth gap has widened over the last four decades as the very richest American households—the white 1 percent—compounded their wealth, at the expense of everyone else. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: Copyright of Southern Cultures is the property of University of North Carolina Press and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. item: Southern Cultures holder: University of North Carolina Press dt: @attributes: year: 2022 holdings: @attributes: islocal: N |
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