What’s Tax Policy and the Racial Wealth Divide Have to Do with Each Other?

Last month, my colleague Chad Bolt wrote a blog about the upside-down tax implications of the now-defunct-but-maybe-not-completely-gone American Health Care Act (AHCA). In it, Chad walked through how the AHCA would have taken some of the most right-side up tax credits created by the Affordable Care (ACA)—which are used by countless Americans each year to afford their coverage—and flipped them completely upside-down. Indeed, while the heart of the ACA/AHCA fight was about preventing 24 million Americans from losing their health coverage, it was also about taxes. More specifically, it was about ensuring that the more than $500 billion we’re slated to spend over the next decade through the tax code for healthcare continues to provide greater, more equitable support to... Read more

How the US tax code drives inequality—and what we can do to fix it

What do millions of people who occupied Wall Street, felt the “Bern,” wore pink hats with pointy ears, and donned baseball caps with the slogan “Make America Great Again” have in common? They are all concerned about wealth inequality. Today, the top 1 percent of Americans have more than half the nation’s wealth. The wealth gap is especially wide for people of color: The wealthiest 400 Americans own more wealth than the entire black population and a third of all Latinos combined. From a practical perspective, this means that millions of low- and moderate-income young adults are not getting to and through college. Millions of low- and moderate-income families can’t afford stable homes, and small business owners are going out... Read more

Not All Asian Elderly Are Well Off

Video of Fox News personality Jesse Watters disrespecting Chinese people on the streets of New York’s Chinatown went viral last October. In the segment on the network’s “The O’Reilly Factor”, Watters mockingly interviews an elderly woman who apparently can’t understand him. As she stands there in silence, the piece cuts to a clip of Madeline Kahn from the movie “Young Frankenstein,” shrieking, “Speak! Speak! Why don’t you speak!” The clip was viewed over 2 million times, and people voiced outrage over how Watters treated the elderly Chinese woman and generally mocked Chinatown residents. For me, the video highlighted how little mainstream Americans understand Asian Americans and its older population. It also sheds light on how our communities are often disparagingly treated... Read more

Three Key Findings on Hispanics with Debt in Collection: Results from CFPB’s Recent Survey

Debt collection in the Latino community is a critical consumer protection issue for one of the nation’s largest and fastest-growing communities. Latino families need access to affordable credit but have been historically excluded or discriminated from safe financial products. A result of this persistent economic injustice is that Latinos and other consumers who have been outside of the financial mainstream are vulnerable to financial shock, such as with health-related expenses or a job loss. Having been sidelined from affordable products, Latinos have little choice but to turn to more expensive credit to pay for their expenses. To illustrate, 39% of Hispanics households used an alternative financial product (such as a payday loan) in 2015, compared to just 17% of White... Read more

Five Key Economic Trends Among California Latinos Revealed in New Report

Demographic trends have long predicted that Latinos will be a large proportion of the country’s population, workforce, and economy. These forecasts are a reality today in California, where we get a glimpse into the nation’s demographic and economic future. Today, California has the largest Hispanic population in the nation, with two in every five Californians (39%) identifying as Latino. Nationally, the U.S. Hispanic population stands at 56 million and, by 2050, is estimated to reach 106 million, accounting for one out of every four people in the country. A new report by NCLR’s Economic Policy Project examines Latinos’ status across a range of indicators in California and offers recommendations for public policies at the state and national level that can... Read more

1 2 3 5