The US Treasury Department’s first-ever analysis of tax return data by race and ethnicity shows White Americans disproportionately benefiting from a variety of tax breaks, including those aimed at investors.
Non-Hispanic White Americans, who make up two-thirds of US families, receive 92% of the benefit from the lower tax rate on dividends and capital gains, and about the same share for deductions of charitable gifts and pass-through business income, according to the Treasury study, which looks at the impact of several major tax breaks. Some other provisions, like the earned income tax credit and child tax credit, are more evenly distributed.
