cont.
The articles on wealth disparity and taxes are just misleading.
The one article states that the top earners will get a tax break of ~$66k while the bottom 20% get $107. This is misleading because it is using real dollars. In percentage terms, the tax cuts are exactly the same across all tax brackets. So if you are paying more in taxes, then the dollar amount is higher even though the percentage is the same.
What these articles failed to point out is that the top 1% of earners pay 38% of all income taxes. The top 10% of earners pay 51% of all income taxes. The bottom 48% of earners pay no income taxes at all. In fact, a lot of the bottom earners get an earned income credit which is not available to even the middle earners.
It also doesn't acknowledge that a lot of the top earners also own businesses which also pay taxes and provide jobs. When was the last time a poor person gave you a job?
The one article states that wealthy get more tax breaks than the poor. In fact, everybody gets the same tax breaks. Whether they can use them is the issue.
Most middle-class use the same tax breaks the rich use. Mortgage interest, property tax deduction, capital gains, donations, 401Ks or Roths, etc. Yes, the bottom earners can't use these, but most of the bottom earners don't pay taxes anyway.
As an economist, I can tell you that wealth disparity is not a problem. Some people make more money than others for lots of reasons. So what.
I could go on about how the "wealth disparity" in the U.S. is a phony talking point. Demonizing the rich is an easy target, but in the end, it is just jealousy. Why do you care if someone has more money than you? The idea that the rich are rich because they stole it from the poor is ridiculous? Most of the rich are rich because they made better choices, took more risks, or had better ideas. In some cases, they were just more athletic, had some musical or acting talent, or just were lucky.
I want to thank you for a very interesting and enlighting discussion. I have learned some things I did not know or understand fully.
While I still don't believe there is wide-spread systemic or institutional racism today, I have to agree with you that more has to be done. We need to work and find every last vestige of discrimination and destroy it. Race, gender, ethnicity, or sexual preference should never be used to give an advantage to one individual over another.