Tax Expert Dorothy Brown: “The System Is Designed For White Wealth” | Amanpour and Company

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Amanpour and Company

Amanpour and Company

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Dorothy A. Brown is a law professor and nationally recognized scholar in tax policy. She chose her field because she believed it was free from racism. She soon discovered how wrong she was. Her new book, "The Whiteness of Wealth: How the Tax System Impoverishes Black Americans and How We Can Fix It," draws on decades of research and personal histories, as she explains to Michel Martin.
Originally aired on April 8, 2021.
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Amanpour and Company features wide-ranging, in-depth conversations with global thought leaders and cultural influencers on the issues and trends impacting the world each day, from politics, business and technology to arts, science and sports. Christiane Amanpour leads the conversation on global and domestic news from London with contributions by prominent journalists Walter Isaacson, Michel Martin, Alicia Menendez and Hari Sreenivasan from the Tisch WNET Studios at Lincoln Center in New York City.
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@agyepongboateng9552
@agyepongboateng9552 3 жыл бұрын
"To be black and conscious in America is to always be in a constant state of rage." James Baldwin
@thedevilsadvocate5210
@thedevilsadvocate5210 3 жыл бұрын
You poor thing
@thetruthspeaketh3527
@thetruthspeaketh3527 3 жыл бұрын
@@thedevilsadvocate5210 🤐🤐🤐🤐🤐
@battle-techs
@battle-techs 3 жыл бұрын
My goodness!!! I hope he overcame his rage in his lifetime. Smh.
@usecriticalthinking243
@usecriticalthinking243 3 жыл бұрын
More like a state of ignorance because most of us aren’t conscience
@MoonBeyStudios
@MoonBeyStudios 3 жыл бұрын
We are not black we are MOORS
@ntefanuk
@ntefanuk 3 жыл бұрын
The entire global financial system is cannibalistic.
@Mad_Intellect
@Mad_Intellect 3 жыл бұрын
More like parasitic.
@1m2rich
@1m2rich 3 жыл бұрын
The elite few bankers control it all. They use our money to do it. Banks needregulations back.
@robertdore9592
@robertdore9592 3 жыл бұрын
Central Banking is to blame. Theres no coincidence that both Lincoln and Kennedy actually attempted to have the treasury control the MONEY supply and were both shot in the head. They tried that with Andrew Jackson and failed but got the last laugh by putting his face of the $20 dollar bill.
@michaeladams8303
@michaeladams8303 3 жыл бұрын
Yes, capitalism quasi rhymes with cannibalism! Just look around! They've been robbing the treasury for decades but Americans still don't get it! blinded and distracted by self interest, ignorance, gizmos, and being pathologically entertained.
@B.White70
@B.White70 3 жыл бұрын
@@michaeladams8303 on point
@shelliehaaland6134
@shelliehaaland6134 3 жыл бұрын
Every time racial inequality comes up, LBJ's quote comes to mind "If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you." Working class, middle class, and poor Americans of all races have more in common with each other than we'll ever have with the rich, yet we let the rich control the narrative... And the tax code... And the laws in general.... 🤦
@erich5686
@erich5686 3 жыл бұрын
Funny how LBJ never ran for a second term. Maybe he realized he was full of..
@kt798
@kt798 3 жыл бұрын
Amen.
@kt798
@kt798 3 жыл бұрын
@@erich5686 I wonder what you're full of, if you think that quote is incorrect.
@erich5686
@erich5686 3 жыл бұрын
@@kt798 Yeah, there's a very good chance he was incorrect, because he got enough things wrong that he just quit trying to be President. This whole channel is like a victory lap for PBS because they survived Trump's spending cuts and are still on the Government's payroll. PBS, we're not popular, but we're still funded by taxpayers.
@lisahughesnowwilhelmi2465
@lisahughesnowwilhelmi2465 3 жыл бұрын
Thanks for sharing the quote from Lyndon B. Johnson, I had to look it up and yep, that's what he said alright. Say's racism is used for all political aims... both or all sides of the coin...so the rich keep getting richer at the expense of the ignorant or tired that come from the working poor south like me BUT, my grandmother, full blood Choctaw, she got herself educated and went to the top of the Tulsa World newspaper, spent her $ on travel and good living.
@michaellynn7745
@michaellynn7745 3 жыл бұрын
Thank you for bringing this to the pubic's attention. I work in financial services and have witnessed premature IRA distributions but never understood why this happened to African Americans. I had experienced transferring out of public schools to private schools, as my local school district merged with less affluent school districts due to busing in the 1970s, white neighborhoods worrying about real estate depreciation as black people moved in, and never questioned anything as a young person, such as lower capital gains tax rates. While I can see how these policies can affect any poor person regardless of race, it helps to see how this affect the lives of black people in this video. These videos help understand historical perspective. I have one African American client (who I like and respect tremendously) who did raise the issue of discriminatory lending practices of a regional bank, but I was not aware of it. Throughout the pandemic, I've spent more time understanding the racial issues afflicting the country, which creates more empathy and awareness of the challenges faced by minorities, and to vote accordingly to help all Americans.
@kappadarwin9476
@kappadarwin9476 3 жыл бұрын
You work in finance? That is pretty cool. I missed out on Finance in high school taking the business path way so I know a little about economics but not a lot. Sorry if I went off topic.
@lifecloud2
@lifecloud2 3 жыл бұрын
Well said, Michael. I think now we're finally addressing this issue. I only hope this allows us to finally work through it. Not just the financial issues you mention, but all our issues regarding racial inequality.
@chibuo4733
@chibuo4733 3 жыл бұрын
It takes a village Michael, it takes a village. Being ‘woke’ _(as the wilfully ignorant would have you believe)_ is no pejorative - it’s only the opposite of remaining asleep. STAY WOKE..! You’re needed. 😉👍
@KiaTheDMVBison
@KiaTheDMVBison 3 жыл бұрын
Well said. Thank you for sharing your experience!
@ChristoverreK
@ChristoverreK 3 жыл бұрын
"I can see how these policies can affect any poor person regardless of race". Exactly. So often we see these so-called " racist" things. upon closer examination, aren't. Yet, these false attributions and counterfeit "racist" accusations pollute so many different issues, giving a most unfortunate, even damaging, yet groundless and needless impression to many people fueling a mistaken sense of wrongs when and where that isn't the case. If these could be properly dispelled and those seeking to benefit and gain from playing racial premises were prevented from that there could be immediate relief of significance from such disproportionate concerns.
@grafxdesigner93
@grafxdesigner93 3 жыл бұрын
I got the book and I have been recommended to every working Black man and Black woman that I come across. My mind was blown when I read the book. Thanks for such great book.
@jamesdavis1949
@jamesdavis1949 8 ай бұрын
What’s the name is the book
@grafxdesigner93
@grafxdesigner93 8 ай бұрын
@@jamesdavis1949 The title of the book is called THE WHITENESS OF WEALTH: HOW THE TAX SYSTEM IMPOVERISHES BLACK AMERICANS AND HOW WE CAN FIX IT by Dorothy A. Brown.
@ms2bloved126
@ms2bloved126 3 жыл бұрын
In summary, we need to learn the tax code/rules as it applies to us personally instead of being shocked every April 15th.
@Blessedabove
@Blessedabove 3 жыл бұрын
Dig that! ✊
@edhughes6507
@edhughes6507 3 жыл бұрын
Yes, learn the code or find someone who looks like you know the code. Some of us don’t take advantage of the code. Stop getting these big refunds if you do invest them.
@lisascott1422
@lisascott1422 3 жыл бұрын
That sounds great and Theory.....however, I learned that the tax codes are changed every year.
@lisascott1422
@lisascott1422 3 жыл бұрын
@Rudolph McKinney Exactly.
@dr.timothyfuller8763
@dr.timothyfuller8763 3 жыл бұрын
We need to learn the system and find the loopholes and make them work for us
@KetoStyle
@KetoStyle 3 жыл бұрын
The system is not designed for us. It never ever was.
@johnherr158
@johnherr158 3 жыл бұрын
I had a state job and I am sorry whites get to the back of the bus. Anyone can learn economics and become financially literate. I am hoarding gold and silver bullion it does not care what color you are it's a good hedge against inflation especially against a leftist rrgime printing money out of thin air.
@BooHefner
@BooHefner 3 жыл бұрын
@@johnherr158 so it's only the left printing money out of thin air could have swore the stimulus started under trump but continue on with your bullshit
@rickjason1786
@rickjason1786 3 жыл бұрын
@@BooHefner Well said.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
@@BooHefner we were in a recession when Trump did. Biden’s stimulus came after the recession ended and he did it because...well liberals don’t understand economics.
@derrickjohnson5219
@derrickjohnson5219 3 жыл бұрын
Want do mean designed?You must not own property or invest in property!I will buy this book just to see what she's talking about.
@shaneshaney5860
@shaneshaney5860 8 ай бұрын
It's jaw-droppingly informative and eye-opening. Also, it's an honor to have academics and experts like Prof. Dorothy Brown in a position who use their advocacy to expose an evil system designed to keep some of the same people down.
@ATalkWithDianna
@ATalkWithDianna 3 жыл бұрын
Very Informative as a Senior Black Consultant IT,TAX, Finance & Education. I always was concerned about Blacks in US especially after doing my Grandparents Will finding we were $Millionaires & paying IRS over $100,000 Taxes. I'm having a serious conversation with my Black Accountant whom first Woman in Wall Street Finance. Love to meet Ms. Brown great research facts Black Americans Taxes vs White Americans
@joedellaselva1251
@joedellaselva1251 3 жыл бұрын
The definitions Professor Brown uses help lead to her conclusions (and subsequent non-CPA's outrage on this thread). She's comparing Married, two income earning Black couples to Married, single income earning White couples......why not compare Married, two income earning Black couples to Married, two income earning White couples as well as Married, single income earning Black couples to Married, single income earning White couples?
@emibulls
@emibulls 3 жыл бұрын
@@joedellaselva1251 well I can't speak for Professor Brown, but I did end up buying her book after seeing the video. I'm still reading it, but I believe she makes the comparison specifically between two income lower wage couples and one income higher wage couples is because that was predominantly the situation back in the day for both respectful races. In her book, she shows a chart that backs this. It was much harder for black Americans to find work, let alone high paying work, so in order to pay the bills both husband and wife had to work. On the other hand, white Americans couples on average only needed the husband to work, and their wage would most likely be much higher. According to the chart Prof. Brown showed, this really isn't the situation is a little different now, with wife's working just as much as Men now, but her point still stands because this is only a relatively recent development. Lots of white American families have benefited from this for a long time and build wealth, and pasted said wealth on to the next generation.
@joedellaselva1251
@joedellaselva1251 3 жыл бұрын
@@emibulls '....she makes the comparison specifically between two income lower wage couples and one income higher wage couples is because that was predominantly the situation back in the day for both respectful races.' I would be curious about the propensity of married couples by race to each work since 1975 to the current time period: what are the household earnings between the races? I just picked 1975 as I consider 1970 the dividing line between the Old and the New. Educational opportunities for everyone had been expanding in the Late-60's and took off in the 70's for college and secondary schools, Johnson's Great Society legislation was significantly lowering poverty by 1975. I see from anecdotal, personal experience that there is a robust Black middle class in America which is far larger than those who would be referred to as Low Income/poor.
@bigvalley4987
@bigvalley4987 3 жыл бұрын
@@emibulls Your reading comprehension is on point. And you have not read her book in its entirety?🤔🤣🤣🤣🤣Great book report, I will purchase this book as well.☑️
@marianmiller2802
@marianmiller2802 3 жыл бұрын
A weath tax break would be good. I remember when tax preparers started telling married clients to look at filing separately to reduce taxes, congress changed the law to thwart those efforts.
@alexkilgour1328
@alexkilgour1328 3 жыл бұрын
Here, in Canada, everyone files their own taxes (married or not) but if your spouse doesn't have income, you can claim a deduction for them on their taxes. We don't pay tax on increased values of our house, when we sell it, but only for the house you live in. If you own multiple properties, you pay tax on selling other ones. The biggest issue, to me, is school tax. Here, in Canada, you pay your school tax to the province and then they dole the money out to each school on a per student basis. In the US, the school tax is collected in and used in each school region. That means people living in expensive neighborhoods have more money in their schools, where here, every school has the same amount per student.
@lifecloud2
@lifecloud2 3 жыл бұрын
This is one reason why Canada is doing so much better socially than we are here in the U.S.
@susancain8505
@susancain8505 3 жыл бұрын
Don’t assume racism does not exist here in Canada because it does. We are just polite about it but the school to prison pipeline exists here, justice system the same, historical racism against Aboriginal communities. If you check a our history it was the Indian Act legislated 100 years ago that was used as the template for South African aparthied.
@lifecloud2
@lifecloud2 3 жыл бұрын
@@susancain8505 Do you have similar problems with police killings? Just wondering not being sarcastic. I worked on a black abolitionist archive for a few years and followed some of the Underground Railroad travelers who crossed the border into Canada back in the mid-1800s. I believe most of them settled in Sandwich. I'm wondering if the descendants' path from that settlement ended up encountering the same sort of injustice now.
@susancain8505
@susancain8505 3 жыл бұрын
@@lifecloud2 Not to the degree that these occur in the US but I am sceptical of the American media as well as the media here the typical biases that one sees in regards to racial issues. I believe the fellows name is Desmond Cole he wrights about black racial issues here in Canada. As a Canadian the way in which we continue to treat the Aboriginal issue we can not believe that we are somehow better than other countries. Look up black communities in Halifax and the discrimination these communities had to deal with. We will never fully remove racial bias we are tribal by nature we live in like communities with people we can self identify, it is the presumption that we put groups within a hierarchy were only a select few reap all the benefits to the exclusion of others that is wrong.
@ChristoverreK
@ChristoverreK 3 жыл бұрын
But look how you just went from "region" to "neighborhood", nonsensically. The tax " regions" are more like tripartate: city, county, state. There aren't any neighborhood taxes that I'm aware of. It's also somewhat racist of you to express a presumption that when referring to wealthy people that somehow must mean White people and referring to poorernpeople must mean Black people.That's less even applicable these days than ever. It also shoots way past the facts of the matter when it comes to actual allocations per student, which are usually not based in facts, either. Such mistaken, at best, presumptions are what's generally found under the hood if such gambits.
@TSidez
@TSidez 3 жыл бұрын
The first point she is referring to is called the marriage penalty. Her research shows that this penalty disproportionately hurts black American families because they are more likely to have two income wage earners. There is an easy fix for this. Just get rid of the marriage penalty and make it equitable. Have everyone taxed at married filing separate rates that are aligned with the same tax rates for those filing as an individual. I never understood why the tax code creates such penalties for filing separately. It almost incentivizes people to cohabitate and file single or head of household. The second point on the home loss sale is also interesting. Blacks are more likely to sell at a loss. What a coincidence that the tax code treats home sale gains as capital gains similar to those you would get for selling an long term held stock, but for losses, ZERO capital losses are allowable. Why did they choose that particular asset with such punitive treatment? Another point she didn’t cover was audits. Poor folks are more likely to be audited and black zip codes are at the top of the list. Knowing who all these policies disproportionately hurts the most, it’s actually quite clear why the govt is fine with keeping the status quo. Because its intended result has been achieved.
@knottyqueen8004
@knottyqueen8004 3 жыл бұрын
I live it, thanks for the insight!
@pohanahawaii
@pohanahawaii 3 жыл бұрын
Not sure I get your point on real estate as taxes are paid on capital gains if your house increased tremendously in value when you sell it. If it decreased then of course no gains hence zero taxes. What's the problem? Real estate is all about location, location, location. Why not tell black upwardly mobile people to stay in/move to black neighborhoods to help boost its value instead moving into affluent white neighborhoods as soon as they could?
@direwolf6234
@direwolf6234 3 жыл бұрын
both my white parents worked so was the tax code penalizing them too...??
@TSidez
@TSidez 3 жыл бұрын
@@direwolf6234 potentially it could, yes. Just because it disproportionately hurts blacks doesn’t mean it doesn’t hurt others. In a way, that’s kind of the whole point. Racist structures and policies can’t work these days without plausible deniability.
@robinsss
@robinsss 3 жыл бұрын
@@pohanahawaii '''''''' Why not tell black upwardly mobile people to stay in/move to black neighborhoods to help boost its value instead moving into affluent white neighborhoods as soon as they could? '''''' if middle class blacks move into a rough black area that would not increase the value of any of the homes there the values would stay the same because the area would still be dangerous that's why the homes have lower values homes in safer areas are demanded more on the market
@kitcoffey7194
@kitcoffey7194 3 жыл бұрын
Let RENTERS deduct things they're subsidizing for slumlords and watch things change. The rent is too damn high. You're paying SOMEONE ELSE'S MORTGAGE but can't get ANY tax benefits for it. Seems like it's a fixed system, all right.
@therealvirgoqueen6553
@therealvirgoqueen6553 3 жыл бұрын
I Agree with you 💯 per cent 🙏💖🙏
@1flash3571
@1flash3571 3 жыл бұрын
So a Landlord is suppose to accommodate your poor self and give you a discount meanwhile he has to pay the full mortgage and lose 400 dollars every month? What world are you living in? Is he not allowed to make a profit if he wants to? You are the "demand", and he is the "supply". Capitalism isn't Racist. IT EFFECTS everybody. You buying that apple cost the same as the others. There is no discrimination. Stop being a child. You people need to learn finance, and business.
@yosquidd242
@yosquidd242 3 жыл бұрын
@@1flash3571 Real estate endeavors used to be for long-term investment strategy, like bonds of all kinds and those designed for retirement fund availability long before 401K and mutual fund investing were offered to working stiffs. So the heirs of rich and wealthy Americans burned through monies on cocaine and bathhouse sex, greed permeated Wall street in a way led by Hollywood troupes by popularizing this counter-culture as the way to live when those who are young and have access to daddy's money(trust funds). Now equity or the ROI has been flipped to become instant cash-out for these ill-educated sons and daughters who learned through capital made easy business schools, such as Wharton, Emory, Yale, and their ilk. Slavery isn't racist except for the money slaves didn't get. so yes, Capitalism is very much racist and it affects everyone. Fresh apples are much better than old ones and even better if you can find them in the black and brown food desert.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
@@yosquidd242 the question still stands. Why don’t renters just buy if they’re getting ripped off by landlords?
@StardelEste
@StardelEste 3 жыл бұрын
What I’ve noticed is that we do pay high rents and pay some one else’s mortgage. But we cant own our own homes and get a mortgage we don’t qualify because of student loans or impediments imposed. As a single mother college educated raised two children without public assistance in student debt I am still paying back taxes that never seem to end even when I no longer claim dependents. All my refunds get grabbed by the state for student loan debt. It’s a vicious cycle that never ends.
@Dzztzt
@Dzztzt 3 жыл бұрын
Best advice, we doing the best we can, pat ourselves on the back for that.
@trevorgibbsnc
@trevorgibbsnc 3 жыл бұрын
Kind of an odd conclusion as well 🤔
@kw-vy5jd
@kw-vy5jd 3 жыл бұрын
THE SYSTEM WASN'T DESIGNED FOR US........POWERFUL MESSAGE
@kimalonzo4912
@kimalonzo4912 3 жыл бұрын
This reminds me of the scene in Shawshank Redemption when Tim Robbins is about to get thrown off of the roof and he asks the prison guars if he trusts his wife. The accountant hiding prison Guard's money in the wife's name.
@toddtaylor1243
@toddtaylor1243 3 жыл бұрын
When I was first starting out in my marriage, a white woman I worked with told me that she and her man were not married because of the marriage penalty in taxes. They both worked very hard, and I think they did okay filing separately, but I suspect they still ended up paying a lot in taxes. My wife and I seemed to have a different experience with our tax situation, as I continued to be the sole breadwinner as an engineer, and she continued taking care of our six children. We started out terribly poor but we stuck with the lifestyle we had chosen. I always used turbotax to file my taxes, and somewhere in my experimentation with the inputs in turbotax, I picked up on the idea that our tax situation seemed better on one income than on two. Over the years we've focused on working to improve my earning power along the way and it sounds like this may have amounted to a good tax strategy rather than teaming up on incomes. This video is interesting to me because now I'm thinking of my parents who both worked to support the family, and then continued all the way to retirement age, and must have been penalized in their taxes the whole way. The role of sole breadwinner feels like a serious burden to me at times, but I guess it has good tax implications. I do prefer the lifestyle that my wife and I have chosen. I feel like it's been really good for our kids to have a full-time mom. I think this video confirms that this lifestyle has also benefited us with a lighter tax burden. The lower tax burden doesn't make us wealthy, but we have been able to pay all our bills so far. The kids are getting older and starting to move out, so we'll have to see what happens to our taxes as the child tax credit disappears (we had all our kids close together in age). From this video I'd like to focus on two points made by the author being interviewed. Point One: The tax code is not written on the basis of race, but our social/cultural/career-related behaviors (decisions) will ultimately affect our tax burden. From this point, I sure hope that people recognize that our cultures do not force our decisions or lifestyles. I would agree that the decision to share the income load is very often a financial necessity in marriage, but we shouldn't assume that necessity to be race-specific. Tax code is tax code. Your tax situation is not race-specific. Any couple of any race can have the benefit or detriment of a given tax provision based on their tax situation. This is not dictated by race unless the code later were to become race-specific (bad idea). This video doesn't spend very much time on the possibility that couples should consider benefiting from such a tax situation, if it is afterall the lifestyle choice that their family would prefer anyway. I suspect that most married couples would want to know that they could have the life they really want at a similar or even less-expensive cost. Why pretend that it has been denied to someone because of their race when their race does not prevent them from taking advantage? Raising a family is not easy. Most families could use any help they can get. Spread the word about this tax benefit. Point Two: A revision to the tax code could help lower-earning couples regardless of their race. If taxes can be reduced on people who are working too hard to get by, I'm in favor of that change. But these two points considered, I would make the point that if the tax code was originally written with the objective to favor one race by reducing taxes on single-earner households, then it has certainly failed to do so as all races in America seem to headed more and more toward two-earner households, just to get by. I hope that the original tax code decision was not a race-based one, but I accept there may be more to the story than was covered in this video. I'll make another point though: If the government is taxing us too much, why are we making this a discussion of race? I get that person A may be taxed worse than person B, and we can look at all the statistics in all the races and other categories that we want... but why do we always ignore the injustice of person G who keeps raising taxes on person A and person B in the first place? Why do we assume that the government is entitled to all the money they take? If we were all given more say over our own earnings, wouldn't we all be better off? How much of the tax money goes into the pockets of politicians? If the government is owned and controlled by "the People", why do we merely OBEY? Why don't we join hands and take back control of our government that we inherited? Just to point out, we are technically authorized to tell the government exactly how much they are allowed to take in the first place. Yet we obey the government without question and look at our neighbors like their racism is holding us back? Why focus on how the injustice is distributed rather than reducing/eliminating the injustice? Let's reduce the government's grabbing of private resources. Let's stop looking to the government as if it were mommy or daddy to fix some injustice for us (later, some day in the future, down the road, once we've given it full control over our lives). Americans are so enamored with equality that they would prefer universal slavery to the government, rather than to enjoy freedom of choice. As taxes increase, we lose the value of our freedom. How about we tell the government to pound sand, and limit them to a straight percentage? Taxes kill the economy, which in turn kills the taxes. So, what are we doing? Let's all get rich by putting the government back in its place. Okay, that's my rant. To put my comments in perspective, my recent choice to cash out my retirement to buy a home has me seriously upset about the taxes I'm going to have to pay next year.
@yr2180
@yr2180 3 жыл бұрын
Love your comment
@whydoineedmynamehi6772
@whydoineedmynamehi6772 2 жыл бұрын
I'll add to your point about the government taking our money, I recently learned that any person's donation to a politician is matched 600 percent through taxes collected. And iirc these funds can be used as a salary to the politician. Social security has also been the biggest scam for all Americans. It's like what, 6.2 percent of your wages for every single worker, but not just that, your employer has to spend another 6.2 percent on it. And if you are self employed, you get that in the self employment tax along with medicare, somewhere around 15 percent total. That's on. Every dollar you earn from the poorest person up to a cap of like 130k. If you put that in the market, if you were able to actually have that in your own account. Your money in retirement even in the most conservative calculations far outstrips social security. And that would be purely living on the interest every year, leaving a nice nest egg for your family. Most families, white or black or otherwise, have no nestegg to pass down due to this, due to estate taxes, death taxes, etc. Because in social security, you don't get your lump sum back, it's gone the second you die. Huge government con.
@KaikalaMoon
@KaikalaMoon 3 жыл бұрын
Thank you for this interview. It's so very frustrating in the midst as you figure it out in real time of your life. This is valuable information.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@DavidWilliams-ju2ln
@DavidWilliams-ju2ln 3 жыл бұрын
Very informative!. Reparations supported by a Black agenda can go a long way in fixing the wealth gap between Black and White. White conservatives and Liberals alike will combine forces to make sure that doesn't happen.
@1flash3571
@1flash3571 3 жыл бұрын
David, No. Do you know what happens when you give money to ANYONE who is poor? THEY BLOW IT on useless stuff. They go back to the same situation they were in BEFORE they got the money. Do you know why it is so? It is BECAUSE they NEVER had to learn to manage the money before. This point I am making is just a side issue though. Another issue is, who is going to get the money? Not all blacks in the U.S. are not from Slavery. Some came from the Islands, or another countries. It isn't just difficult to figure out who is who, but the logistics of it is just too overwhelming. This is also a side point too. The real issue isn't about repaying the great great grandchild of bad things that happened to their ancestors. The real issue is trying to lift the poor out of poverty. One of many things we can do to fix the generational poverty is to spread the news that 2 parent home is the best way to get out of poverty. Too many modern people have been taught to be selfish. IT is all about them, and not about others or community. Do what is good for YOU. It is all about YOU. Sad truth is, it isn't all about YOU.
@mondomeep595
@mondomeep595 3 жыл бұрын
@@1flash3571 ok boomer
@poohwilliams4544
@poohwilliams4544 3 жыл бұрын
Is not a party issue because whether you're liberal Conservative Republican neither party has supported reparations and wants to do the right thing buy black people and give them their land at reparations back
@poohwilliams4544
@poohwilliams4544 3 жыл бұрын
@@1flash3571 slavery was all over from the Caribbean the islands all over the world so the reparations to go to the descendants of slaves
@1flash3571
@1flash3571 3 жыл бұрын
@@poohwilliams4544 U.S. is the only Country in the world where a group of people wants a reparation. It will never happen so they should just move on with their life. Only group of people in the U.S. who got some sort of reparations were the survivors of the Japanese internment camps. Their possessions were taken away from them. Thy actually had to fight for it in court. Not all got their stuff back and most just got pennies on the dollar restored.
@themensrestorationchannel8004
@themensrestorationchannel8004 3 жыл бұрын
The system is designed for those who willing to pay professionals for the best relevant information. My family and even childhood friends are not complaining at all. Churches have collected $800 billion in 10 years and didn't offer any services to provide services to build and expand black wealth.
@B.White70
@B.White70 3 жыл бұрын
Are you saying that the system got it right then?
@Christophertruck
@Christophertruck 3 жыл бұрын
Dr Umar Johnson said they are paid to stay out of situations like that and many more
@themensrestorationchannel8004
@themensrestorationchannel8004 3 жыл бұрын
@@B.White70 I am saying to many of our people stay in victim mode.
@themensrestorationchannel8004
@themensrestorationchannel8004 3 жыл бұрын
@@Christophertruck so it's an us problem? To many among us willingly selling their souls.
@andreamahogany4252
@andreamahogany4252 3 жыл бұрын
@@themensrestorationchannel8004 naw we stay in survival mode! Get it right!
@lifecloud2
@lifecloud2 3 жыл бұрын
I'm so glad there are people like Dorothy Brown who tackle problems like this. It's almost as if these issues are hidden ... buried beneath almost unintelligible tax codes and rules and legalese. Even I, with a BA degree, have trouble figuring out the tax laws. If I were living alone now, I'd probably have to hire someone to help me makes sense of it all. I think the idea is to make it so incomprehensible that no one questions it. And this hurts us all.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@erich5686
@erich5686 3 жыл бұрын
@@effscottfitz-gee2024 It's gonna be funny when PBS disables their comment sections because they can't handle the facts.
@lifecloud2
@lifecloud2 3 жыл бұрын
@@effscottfitz-gee2024 OK, Eff ... I listened to this again. It's not easy to understand but I think I get what you're saying here. It has to do with filing jointly as a married couple. The racial profiling is inferred. When two incomes are combined and for example, if each individual is making $50,000 a year, then this is filed as $100,000 income. But if only one spouse is working, then this $50,000 income is split between the two people in a married couple bringing down the total amount that gets taxed. So, maybe this is not so much a deliberate attempt at discrimination but a way of making the tax laws so difficult to weed through that those without a higher education might not understand the best way to file with two incomes. This means the discrimination is with the education level of the tax payer. The other racial information is inferred by where the person lives, etc. Is this about right?
@tabathadavis2917
@tabathadavis2917 3 жыл бұрын
@Forest Pandit so are you.
@tabathadavis2917
@tabathadavis2917 3 жыл бұрын
@@effscottfitz-gee2024 how many times have you posted this same response? Are you a robot?
@iamme2399
@iamme2399 3 жыл бұрын
It's the gasligting in the tax code, homeownership, and the list continues, for Black families. It never ends.
@robinsss
@robinsss 3 жыл бұрын
safer communities have houses with more value
@charlesirby9571
@charlesirby9571 3 жыл бұрын
@@robinsss not true i live in a relatively safe black American middle class community. There is a comparable white middle class working class community in another section of the city. The houses in this working class white community was substantially appraised st a higher value than the middle class black community. Spare me the bull shit it is banking institutions favouring the white middle class working communities. Also a case study said black people in Philadelphia with the same credit score, same economic status are denied access to capital.
@robinsss
@robinsss 3 жыл бұрын
@@charlesirby9571 gives us the crime stats for your community and a link tot the Philadelphia study
@kgs6032
@kgs6032 3 жыл бұрын
@@robinsss Look it up yourself....Google is free. it's not that hard to type housing, Black home values, same crime level, or some other combination of words. There are tons of studies, that you don't know this, or want to pretend you don't know says a lot.
@robinsss
@robinsss 3 жыл бұрын
@@kgs6032 if you want to prove that black homes are being de valued despite being in communities with the same crime rates as communities white homes are in this it's your job to prove it not mine so you look it up that's not how debating works
@shytownprovoked6761
@shytownprovoked6761 3 жыл бұрын
Let the truth be told, I realized a while ago that nobody warned me these folks hate our guys, for no other reason, than God made us Black and beautiful. And created a system to suppress us,I remember how old black folks would deride the children but refuse to acknowledge the system we live under. Even to this day. It sickens me, to know how cowardly they were.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@scroogemcduckrich9705
@scroogemcduckrich9705 3 жыл бұрын
@@effscottfitz-gee2024 right she is a tax expert .. BUT YOU ARE RIGHT…? 🥴
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
@@scroogemcduckrich9705 actually, I am. 🤫
@scroogemcduckrich9705
@scroogemcduckrich9705 3 жыл бұрын
@@effscottfitz-gee2024 🗣we dont believe you .. you need more people
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
@@scroogemcduckrich9705 I don’t care if you believe me and why would I need more people?
@acabblm64
@acabblm64 3 жыл бұрын
Such an informative discussion, particularly on the homeownership side. Thank you Dorothy Brown for sharing such enlightening information!
@sjboyer2536
@sjboyer2536 3 жыл бұрын
Is this an affinity with how Africans were forced to deal with the European consistent colonization via force Loans the African leaders made with the colonists?
@ChristoverreK
@ChristoverreK 3 жыл бұрын
Following the Abolishment of slavery, weren't Blacks offered provided passage and grubstakes and supplied an entire country (Liberia) for their return to Africa? Those that preferred to remain were, in fact, then willingly making themselves "colonists" too.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is a moron. She got literally every one of her primary points wrong. She is either very bad at math or a malicious liar.
@SaturnStarOfDavid
@SaturnStarOfDavid 3 жыл бұрын
@@effscottfitz-gee2024 my Aryan brother. So good to see you here.
@emilyemily9328
@emilyemily9328 3 жыл бұрын
This is an outstanding series, Chasing the Dream. Well done.
@erich5686
@erich5686 3 жыл бұрын
I think George Floyd's estranged family can stop chasing "The Dream".
@over50andfantabulous59
@over50andfantabulous59 3 жыл бұрын
@@erich5686 oóó9óó poo óooojooooo
@ralphphillips2232
@ralphphillips2232 3 жыл бұрын
@@erich5686 But George Floyd's dreams are over. Why can't racists figure out the obvious?
@erich5686
@erich5686 3 жыл бұрын
@@ralphphillips2232 Whose fault is that ? Let me guess, he was about to get on the right track and then...
@erich5686
@erich5686 3 жыл бұрын
@@over50andfantabulous59 Stay classy
@lawrenceholst3808
@lawrenceholst3808 3 жыл бұрын
UncleSam = Uncle ScaM
@dearjourneyxokamiahmonique
@dearjourneyxokamiahmonique 3 жыл бұрын
Very interesting, I’ll have to get her book!
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
If the book is anything like this interview, don’t do it. You’ll finish the book dumber than when you started. This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@1flash3571
@1flash3571 3 жыл бұрын
Capitalism isn't Racist. She is. She is playing the victim, or wants others to play the victim.
@stevenpadilla4294
@stevenpadilla4294 3 жыл бұрын
Cant you take depreciation every yr on the house?
@stevenpadilla4294
@stevenpadilla4294 3 жыл бұрын
Dont buy her book. Buy a book on starting you own business and how to llc and write shit off. 475 tax deductions. Enterprise and stop begging for a job. How much can a business owner put into a ira.? Anybody? Whats the max? Being a professional victim is no way to spend your life. Lifes too short.
@rbwatkins13
@rbwatkins13 3 жыл бұрын
@@effscottfitz-gee2024 She is using racism to sale false information to her own race and have them believe it's the white man who is the one holding them back and in reality it's the blacks like her at the top.....and I'm black
@chuckkottke
@chuckkottke 3 жыл бұрын
In addition, campaign finance reform might help, since those who control politics today select for policies that benefit the donor class and shift burdens onto those with the least political influence. A more representative body can craft policy which is more equitable for all Americans.
@HardworkDedication
@HardworkDedication 3 жыл бұрын
Black people built the dream 🤷🏾‍♂️
@w9906
@w9906 3 жыл бұрын
Then tell me WHY do single people that make less than $40,000 get taxed so high?!
@therealvirgoqueen6553
@therealvirgoqueen6553 3 жыл бұрын
IKR they kill me in taxes but Receive chicken change on my income tax filing 😡🤬😠💯
@charlesxavier3489
@charlesxavier3489 3 жыл бұрын
To keep them poor
@freeindeed8416
@freeindeed8416 3 жыл бұрын
They don’t
@steverl22
@steverl22 3 жыл бұрын
That group is the biggest number of people in the USA.....thus MORE TAXES!!
@freeindeed8416
@freeindeed8416 3 жыл бұрын
@@steverl22 They don’t pay more taxes. Some of them don’t pay any
@ashburnconnecttv7860
@ashburnconnecttv7860 3 жыл бұрын
This is a perfect example of the "BLACK TAX" in America! Shameful!!
@1flash3571
@1flash3571 3 жыл бұрын
LMAO!!!! Capitalism isn't Racist. You are a child. Grow up and get a job.
@jackole5438
@jackole5438 3 жыл бұрын
@@1flash3571 Capitalism will CAPITALIZE.....on any natural or artificial construct. RACE INCLUDED! Oh, I mean risk.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
@@jackole5438 math is racist!
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@jackole5438
@jackole5438 3 жыл бұрын
@@effscottfitz-gee2024 Math is not racist but RACISTS DO MATH TOO AND MAKE DECISIONS!
@ceciliawitcher2196
@ceciliawitcher2196 3 жыл бұрын
I think Tim Scott and Congressman Clyburn needs to see this video. Thank you for this very informative video.
@akeisesample2080
@akeisesample2080 3 жыл бұрын
Because Black Men are the only men on earth who are expected to be led by their women.😒
@scroogemcduckrich9705
@scroogemcduckrich9705 3 жыл бұрын
Tim Scott?? 😂😂😂😂😂 girl he dont care about Black people
@ceciliawitcher2196
@ceciliawitcher2196 3 жыл бұрын
@@scroogemcduckrich9705 🤷🏾‍♀️
@jacquelineduplantier5563
@jacquelineduplantier5563 3 жыл бұрын
Excellent interview. I can personally relate to much of this conversation. Thanks!
@lindas.martin2806
@lindas.martin2806 3 жыл бұрын
I am a white woman who for the most part of my life has worked relatively low wage jobs, and I would say that the tax laws also are prejudiced against poorer people than the wealthy, who can afford lawyers to investigate tax loopholes. I owned a tiny home once, had to sell it in a bad economy for less than I bought it, and never was able to purchase another because of laws that do not allow help for those who want to buy their second home. As for myself, I prefer mixed neighborhoods, which are more diverse and interesting, but being single also look at crime rates. When I lived in Seattle, I wanted to live in an Asian neighborhood with wonderful food and a good deal of diversity, but the crime rate was very high. Anyway, I hope these laws are changed to make things more equitable to black Americans, and also all of us on the lower rung of the ladder.
@charlesirby9571
@charlesirby9571 3 жыл бұрын
I'm curious the crime rate was high in a asian community? I never lived in Seattle but I visited during the summer. 2 uncles marines relocated to Seattle during their service days.
@lavernechambers3902
@lavernechambers3902 3 жыл бұрын
I never new that I could deduct $2500 of paid student loan interest...
@themensrestorationchannel8004
@themensrestorationchannel8004 3 жыл бұрын
So is it racism or not having the right people around you to keep you informed?
@kushitespearman9394
@kushitespearman9394 3 жыл бұрын
Only if you make under a certain amount.
@themensrestorationchannel8004
@themensrestorationchannel8004 3 жыл бұрын
@Marilyn Monroe it's not racist that's called nepotism which I have no problem with we not owed information from other groups who love to make money from ignorance... I blame churches for not having knowledge and opportunities centers and broken families for the poor state of affairs of black Americans .... This stuff isn't hidden because we have our own educated black accountants and tax lawyers who not informing their clients communities
@themensrestorationchannel8004
@themensrestorationchannel8004 3 жыл бұрын
@Marilyn Monroe most people doing a magnificent job of oppressing themselves with atrocious decisions then will call it racism or oppression Mate selection Career selection Time management Conflict Resolution Financial literacy and discipline Nutrition Are all things we control without outsiders direct influence on our lives
@TheMwegasShow
@TheMwegasShow 3 жыл бұрын
@Marilyn Monroe Nobody owes anybody information. If you know something that will make you rich and break no laws, you are not obligated to share it with anybody
@ChristoverreK
@ChristoverreK 3 жыл бұрын
Okay, the very first example and "explanation" uses the married/joint tax filing as, supposedly, showing a grievous racial basis. But I still don't see it. She embeds in the concept that Black people need two incomes in order to make $100,000, which somehow "means" that White people don't, as a racial feature of both. HOW many White married couiples need both spoiuses to work and file jointly, as well? How does any of that favor white people, at the expense of Black people? It doesn't. Her underlying premise is actually, White people (as a whole group) earn and retain more money than Black people. And that this very aspect "income and wealth disparaty" is both "racist" and intentionally, craftily designed. That's nonsense. The tax laws she's referring to, especially, were at a time when married White couples in the same bracket were countless. Lately, most everything and anything is being called racist because of the very same formula.
@yvettegreen3242
@yvettegreen3242 3 жыл бұрын
You are what is called a casualty, last time I checked black people were not in charge of the world/ Laws or had participation in drafting the Constitution.
@ChristoverreK
@ChristoverreK 3 жыл бұрын
@@yvettegreen3242 Aha. The premise switcheroo when one supposed 'point' is refuted, back waaay out to try another one. Thing is, in recent decades we've had quite a lot of Black people in even the highest, most authoritative offices in the land, including the presidency, the supreme court, congress, etc., etc. For that matter, back in the 1800's one of our American heros was a man who, once freed from slavery, founded and grew successful businesses then became the first Black person elected to Congress. Regardless, we do find some people continually facing backwards and reaching even far into the past to keep their clutch at grievance going. And that's pretty much what it takes to do so, rather than how things are now and have changed for over half a century and a couple of entire generations ago.
@nanyael8750
@nanyael8750 3 жыл бұрын
Also send her book and video to Tim Scott who doesn't think America is a "RACIST COUNTRY"!!!
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@maxjulien8394
@maxjulien8394 3 жыл бұрын
Long time lister Ms. Martin, I've enjoyed your voice, knowledge , and in depth questions for years, Thank You
@rickjason1786
@rickjason1786 3 жыл бұрын
Reminds me of Robert Kiyosaki's saying: If your house is your biggest asset you're in trouble.
@rickjason1786
@rickjason1786 3 жыл бұрын
The difference between the working-classes and the rich! A wealthy person would have written a book about how to take advantage of these problems. Not seeing these as traps but opportunities.
@trevorgibbsnc
@trevorgibbsnc 3 жыл бұрын
@@rickjason1786 My starting point in conversations like these is: “What’s the ask?” Are we asking the majority of working class Americans to be multi-stream income earning entrepreneurs just to have the lives their grandparents had on one income?? I would venture most would like to have a single income, be able to save, rear children, and retire. (Basic American Dream Standards). Now if you’re posturing that the dream no longer exist… then I could see your point. 🤔 And maybe that should be addressed socially and in our nations overarching political commentary.
@rickjason1786
@rickjason1786 3 жыл бұрын
@@trevorgibbsnc No what I'm saying Trevor is that this isn't really about race its socioeconomics and about class stratification. Meaning that these issues plague working class Americans and not just African-Americans as the author has stated. I thought this post was finished. I think the author used the race button because she could sell more books that way. Lol
@anthonyldepass3194
@anthonyldepass3194 3 жыл бұрын
I am a college educated Black man in a two income household and while I agree on the underlying facts, I disagree with many the conclusions that were made by both women in this interview. What I heard was: 1. The US tax code favors wealthy individuals. 2. Most Blacks are not wealthy. 3. The US tax code discriminates against Blacks. The flaw here is that by numbers, there are more Whites who are negatively impacted by by the tax code than there are Blacks. Blacks who file taxes are more likely to benefit the tax advantages over filing single as the Head of Household, and Black women disproportionately benefit from the Earned Income Tax Credit. Should we also level the playing field by removing those benefits? The issue with our tax system is wealth and not race. The tax system is the fever and not the underlying infection. We should focus on educating less affluent Blacks, Whites, and others of all colors to do the things that position them to benefit from the tax structure. This would include: 1. Education is key! Black women have demonstrated this to be the group enjoying to the highest levels of social and economic mobility in this country (see Raj Chetty's work on this issue). Position yourself in learning skills beyond a high school diploma that you can leverage to generate wealth. 2. Your job is less likely to generate long term wealth compared to your investments. I'm not talking get rich quick pyramid schemes which we appear to be quick to join, but long term investments that leverage compounding interests. 3. The neighborhoods where you live and the school systems that serve them are highly predictable of your family outcomes. Don't complain about White people insisting on living in White neighborhoods, as was done in the interview, when Blacks do the same. Neighborhoods change, make decisions on your lifestyle for your family and not allegiance to race. 4. Get knowledge about the tax code and adjust your life to make it work for you. Donald Trump and many others don't pay income taxes, because they structure their tax lives around businesses. That way, even when revenue is generated, "income", upon which taxes are based, is limited. This presents significant tax advantages. We should be lighting candles rather than cursing the darkness.
@freeindeed8416
@freeindeed8416 3 жыл бұрын
Man this is a great reply
@enviedeveryday2835
@enviedeveryday2835 3 жыл бұрын
Nah u just uneducated the government been trying to eradicate black people since 1776
@freeindeed8416
@freeindeed8416 3 жыл бұрын
@@enviedeveryday2835 Why can’t they get it done?
@enviedeveryday2835
@enviedeveryday2835 3 жыл бұрын
@@freeindeed8416 you tell me?
@freeindeed8416
@freeindeed8416 3 жыл бұрын
@@enviedeveryday2835 Maybe because it’s not all you think it is. I know the history we have in this country. Maybe they are trying to get rid of us. Maybe not. I know this though we doing a good job of it on our own
@LoriCollier1
@LoriCollier1 3 жыл бұрын
That was a refreshing message. We work so hard and things still are not equal and we get looked down upon. Thank you for that message at the end. Now, it's time to get back to working 20x harder so we can make it just as far.
@rosalynbeatty8310
@rosalynbeatty8310 3 жыл бұрын
I think 2--- by the time we reach an older age--- we r more disadvantaged from chronic illnesses. Due 2 stress of racism. Back, in my family they would have 2 sell any land property 2 pay 4 medical bills.
@dhiradibiase4067
@dhiradibiase4067 3 жыл бұрын
I am so grateful for her ability to speak frankly and constructively. I am walking away with a clearer picture: awareness of political and social ramifications of living in an all white neigborhood and a deeper understanding of the Jim Crow generational effects. Thank you!
@markarnold933
@markarnold933 3 жыл бұрын
I flunked out of college and joined the army and had the Army College fund pay for my remaining years to earn my degree…
@augustusbrown5320
@augustusbrown5320 3 жыл бұрын
Smart Move...........
@tyronerowesr2858
@tyronerowesr2858 3 жыл бұрын
I join the AIR FORCE ..IN 1963....GOT MY BUSINESS DEGREE... HEALTH CARE FOR LIFE....AND A HOME THRU VA...PAID MY DUES...NOW it's TIME...FOR OUR REPARATIONS CK...THE BLACK VETERAN FOR JUSTICE PA NY SC.
@steve_Above_and_Beyond
@steve_Above_and_Beyond 3 жыл бұрын
My father was raised as a black farmer in Mississippi, left the farm, joined the Marines in 1957. Got out, used his VA benefit for a house, added value and started his business and bought an apartment. I joined the Marines in 1983, got out and followed his blueprint. If people want freedom and legacy they need an action plan and stop listening to the “you can’t” crowd. Imagine being an athlete with a coach who constantly said “you can’t win”.
@originalwoman1269
@originalwoman1269 3 жыл бұрын
@@steve_Above_and_Beyond EXACTLY!!! Oh my goodness I'm so over the victim mentality we have had for so long. We really need to move on from this....
@tajmacameron1693
@tajmacameron1693 3 жыл бұрын
Thank you so much for this information.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
It’s all wrong
@ClaireForsberg-rl6tc
@ClaireForsberg-rl6tc 8 ай бұрын
Mind Blowing! Makes me want to dig deeper to see what else our black brothers and sisters have been taken advantage of to insure they are left at a disadvantage. My heart is sick and I'm angry. Thank you for bringing these atrocities into focus. God Bless you.
@akeisesample2080
@akeisesample2080 3 жыл бұрын
Where's the Black MEN to help bring balance to this victimization narrative? From a Black male perspective I believe our focus should be on rebuilding the Black FAMILY and not "fixing" a system that can NEVER guarantee "Equality".
@legacygroup2012
@legacygroup2012 3 жыл бұрын
Brother I’m with you. I am sick and tired of these women eating this racism, victim mentality narrative and washing it down with feminist kool aid. I am debt free, married for 27 years and taught my children the importance of investing and independent thinking. These race baiting book selling charlatan hypocrites are mentally keeping the community ignorant. They are living completely the opposite of what they are preaching.
@akeisesample2080
@akeisesample2080 3 жыл бұрын
@@legacygroup2012 Perfectly said brother!!!
@6213explorer1
@6213explorer1 3 жыл бұрын
Great segment. I need to get the book. Yvette Carnell, Antonio Moore and Irami Osei-Frimpong discuss these issues all the time!
@LMae-rj9qi
@LMae-rj9qi 3 жыл бұрын
I said the same thing. Still, I’m glad she’s talking about it too. Anyway, Since I began listening to Yvette, and company about 4 years ago, I did exactly what this researcher said we should do: give ourselves a break and stop beating up up on ourselves. Carnell, Moore and Irami really helped lift a cloud from over me because I could never put my finger on why all the generational hard work performed by all of 6 my married parents seemed so stalled. And to think I still have some fellow black folk concerned that I’m still single. And it’s usually some divorced person.
@lohphat
@lohphat 3 жыл бұрын
The US doesn't have monarchy of heredity as in Europe, we have a monarchy of UNEARNED inter-generational wealth. The wealth buys legislators and legislation to maintain the status quo.
@scroogemcduckrich9705
@scroogemcduckrich9705 3 жыл бұрын
facts
@scroogemcduckrich9705
@scroogemcduckrich9705 3 жыл бұрын
@@johncarpenter4083 😂😂😂😂
@DashaTheDivineDivah
@DashaTheDivineDivah 3 жыл бұрын
Just when you think the rabbit hole of racism can't go any deeper... great talk
@Gypsygirl9
@Gypsygirl9 3 жыл бұрын
So now..wealth also has a color? STOP IT. Any low earners are impacted the same. Geez.
@akeisesample2080
@akeisesample2080 3 жыл бұрын
Thank you for saying the truth!
@derricksnearl9381
@derricksnearl9381 3 жыл бұрын
The tax code is advantageous for business owners and investors - plan & simple. It’s all about earned vs un- earned income. If you’re only source of income is a W2 ( earned income) , you’re going to pay a higher percentage of taxes. If you follow the tax codes list of incentives, you’ll pay less taxes. I’m not buying the whole “color” thing.
@dtr579
@dtr579 3 жыл бұрын
I'm just wondering how is it that other ethnic groups in the country are never mentioned in these black vs. white everything, even though Hispanics are the number #1 minority group in the country. Asian are on track to past black people in population by 2030, which will make black Americans a 3rd class minority group in their own country. While black professionals, white liberals Hollywood, athletes and media keep blacks focused on white people and what their doing, the same democrat politicians are replacing blacks at a blazing fast pace with illegal and legal immigration to the tune of about 2 - 3 million a year. Black people want have any political power by the end of this decade. There will be no more phony democrat politicians coming to the hood courting blacks any longer, no republican or independent will be courting you after they have the numbers with the Hispanics, Asians, Indian and all other minority groups popping up in the country. Blacks can go kick rocks after democrats no longer need your vote. This is what black people are overlooking. Blacks are being distracted with the toy in the left hand while the democrat politicians are working their replacement plan in the right hand. I hope I'm retired and out of the game when our race fall into oblivion. It's coming unfortunately.
@winstonthomas4576
@winstonthomas4576 3 жыл бұрын
What?! This is lame. Always making us look like victims.
@ChateauCarterOriginals
@ChateauCarterOriginals 3 жыл бұрын
THANK YOU, MS. DOROTHY BROWN!!!!!! AS A BLACK HOMEOWNER MYSELF, THIS IS AN EYE-OPENING MESSAGE 🤯🤯🤯🤯❤️❤️❤️❤️
@gadsaad6136
@gadsaad6136 3 жыл бұрын
The issue is the banks and corporate America, they are the source of all the problems blacks have in the usa financially.
@lorieb2030
@lorieb2030 3 жыл бұрын
Great discussion! I would like to know if she addresses the head of household filing status, which is used by many single mothers. Tax breaks and credits for the head of household are phased out at a much lower income than for those in the married status.
@woopityscoop2863
@woopityscoop2863 3 жыл бұрын
Reform for this system is so unbelievably difficult. The system is just geared to destroy not only poor people, but people that look a certain way.
@asmitty1016
@asmitty1016 3 жыл бұрын
From I'm hearing we should criticize some of these black spokesperson that want to criticize black people for not saving or investing at least in there 401K as much as they should. Some claim we'll go out a pay $100's of dollars to sneakers and hair and other personal items like they should be.
@HarrisPilton789
@HarrisPilton789 3 жыл бұрын
Many of us do overspend on sneakers, wigs, weaves, handbags, etc. Why should anyone be criticized for saying this.
@trevorgibbsnc
@trevorgibbsnc 3 жыл бұрын
@@HarrisPilton789 Define “many of us”? And, would you say that blacks spend more money (dollars earned vs dollars spent) on average compared to other groups?
@midnightmodder
@midnightmodder 3 жыл бұрын
I enhoyed her other book "Black Rednecks and White Liberals" She's definitely an educated woman!
@johnherr158
@johnherr158 3 жыл бұрын
I would like to buy her book too but in todays cancel culture which I am sure she supports in one way or another I can't give this woman my money.
@midnightmodder
@midnightmodder 3 жыл бұрын
@@johnherr158 sorry it was by Thomas Sowell. I just heard the audio book on here the other day. I thought a dude was reading her words.
@777wisdom7
@777wisdom7 3 жыл бұрын
I wish they would have touched base on gentrification
@ms2bloved126
@ms2bloved126 3 жыл бұрын
It definitely applied 👍🏼
@sterrshow5016
@sterrshow5016 3 жыл бұрын
Well gentrification means the city or county starts improving an area by giving money directly to people applying to improve their property or by the county itself improving the neighborhood. When they do this they raise property taxes on the homeowners in the area in order to offset the money spent on the improvements. This lady on the video would probably claim this is racist because it pushes homeowners and black people into having to pay higher taxes and possibly not be able to afford their taxes, which means they would have to move elsewhere. In reality, there is no racial component to gentrification.
@777wisdom7
@777wisdom7 3 жыл бұрын
@@sterrshow5016 Not true Take a trip to Crown Heights Brooklyn lately? The Blacks have been moved out and the Whites have been moved in. In a neighborhood where NO White people would be like 20 years ago is flooded by White faces. Race plays a major part in this ....hope I did not burst your bubble....:POP!
@tgmickey513
@tgmickey513 3 жыл бұрын
I feel left out, I'm white, have worked in manual labor force for 25 years, never been able to buy a house, barely get out from under taxes, cant afford healthcare. I don't dispute the racial component at all, watched it happen my whole life. But my experience is to be vilified by rich whites because I'm not, and black community because I'm white. Would the changes she's speaking about apply to folks like me to? Because I'm never going to have white wealth either.
@yvettegreen3242
@yvettegreen3242 3 жыл бұрын
Their are casualties in this war.
@byancaspiazzawest1307
@byancaspiazzawest1307 3 жыл бұрын
I've been infuriated about this for the last 45 years...
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
You’re mad that you never learned basic math?
@metallica2500
@metallica2500 3 жыл бұрын
I was a firm believer in yes we can and hope and change, in 2009. I thought for the first time in my life things were going to be handled much differently, I realized early on the politicians no matter what color they are, just give us lipservice.. God bless my grandma for raising me in such a way that, if I didn’t study and get good grades, she would take a switch to me. anybody who’s been raised in that situation, knows that grandma‘s not messing. Now my grandma lives with me and my family, far from where we started on the southside of Chicago.
@yayayummi
@yayayummi 3 жыл бұрын
This information was eye opening...The book is a must read
@stevenphelps7929
@stevenphelps7929 3 жыл бұрын
I'm haven't been surprised in my lifetime at all. I'm glad that big government is being exposed ,and Tax Expert Dorothy Brown has shared this knowledge with all of us. Thank you for your podcast network ,as well.
@dedrickmuhammad2732
@dedrickmuhammad2732 3 жыл бұрын
This is one of the reasons we need to separate from White America's government.
@toneotone4813
@toneotone4813 3 жыл бұрын
No🐶 🐩 🐕 born in a kennel/shelter ever escaped to free his friends..once awakened to his surroundings returning back to the origins of his beginnings.. But if so..they’re too domesticated and dumb to fiend for themselves ...(us) .... we need to turn back to the one who put us upside down..in the first place..because of our disobedience.. and that’s..God
@1m2rich
@1m2rich 3 жыл бұрын
That is ridiculous. You are a minority and can not win it all. Vote Progressive.
@dedrickmuhammad2732
@dedrickmuhammad2732 3 жыл бұрын
@@1m2rich , minority only in America. Minority worldwide? No. If your a black you can stay with them. If your white, you can't just leave us be. We had over 60 black cities before the government sent white militia groups in to burn them down and take the towns away. Tesla, Oklahoma and more. We was left alone. But no, Mr. Caveman just had to bother us.
@usecriticalthinking243
@usecriticalthinking243 3 жыл бұрын
and have a dysfunctional country of people like you d riding Arab religions who have been the most harmful group to blacks ?
@dayc.2297
@dayc.2297 3 жыл бұрын
Very informative and it’s easy to understand Mrs. Brown breakdown of white and black and the bias of the American government
@ElevationNationCONVERSATIONS
@ElevationNationCONVERSATIONS 3 жыл бұрын
She LOST me when she started talking about her tax bid helping everybody... its about BLACKS right now we have been more disadvantaged then other groups for far longer
@icemike1
@icemike1 3 жыл бұрын
Right
@strengthandhonor9334
@strengthandhonor9334 3 жыл бұрын
Don’t speak for me. I’m black and I don’t need no special treatment to win in life.
@icemike1
@icemike1 3 жыл бұрын
@@strengthandhonor9334 i bet you wouldn't turn it down
@thetruthspeaketh3527
@thetruthspeaketh3527 3 жыл бұрын
This book should be taught in school. Why can't Black Americans sue also as the White couple did?
@keithboykins258
@keithboykins258 3 жыл бұрын
C Nancy, why would they teach you this in their schools? Blacks need to stop being lazy, and do some research and reading.
@thetruthspeaketh3527
@thetruthspeaketh3527 3 жыл бұрын
@@keithboykins258 If Black people were so lazy you won't be benefiting from their hard work, their great music, endless contribution to this society so many of you celebrate and freeload off which they never got credit for. Restricting them for being educated, voting, denying them of their existence because evil people played God, etc, etc, Black people are strong, beautiful people to even sit with reckless inhumane creatures who enslaved them.
@selenasimmons6653
@selenasimmons6653 3 жыл бұрын
I've had to go thru a few of these examples...and while I'm making sure I don't make the same mistakes, I don't see how I can live this American life w/o running into this all again?!?!
@williamfisher4663
@williamfisher4663 3 жыл бұрын
Buy land get debt free farm save you money
@TravelTourDine_007
@TravelTourDine_007 8 ай бұрын
Research has shown that audit rates for Black Americans are three to five times higher than for other taxpayers, with audits focused on the tax credit being a major driver of the disparity.
@jacquelineduplantier5563
@jacquelineduplantier5563 3 жыл бұрын
I had this very conversation with a neighbor 2 days ago regarding the tax code inequality and the stimulus check. My position is ALL taxpayers should be taxed at the “single” rate.
@edm781
@edm781 3 жыл бұрын
That only works if you take out ALL other loopholes & write-offs. e.g. Most executives aren't paid in full by normal salaries. There are many forms of compensation that cheat the system. The most common is stock options or other forms of stock compensation. Profits on that are at the capital gains rate which is only 15%. Less than half of what the average American pays. An exec would get a normal salary often right below a major tax rate jump. Then is compensated in these other "creative" ways. Add on top exemptions & other ways high paid tax accountants can play the rigged system and for decades now the top 10% has been paying a far lower percentage of their real income than the average salaried American.
@IUEC38
@IUEC38 3 жыл бұрын
You can take that position but that necessarily means making inequality exponentially worse.
@lohphat
@lohphat 3 жыл бұрын
Flat taxes benefit the already wealthy because the bite taken out "hurts" much less. If you make $46K a year the 15-20% of a flat tax would HURT. If you make $4.6 MILLION, then 15-20% would not hurt you as much. You'll have plenty left over as opposed to the low-income earner which will have to do without a lot of things that 15-20% takes.
@freeindeed8416
@freeindeed8416 3 жыл бұрын
Nah the more money you make, the more percentage you should pay
@rorober.1423
@rorober.1423 3 жыл бұрын
EVERYTHING so true. I acquired a MS with honors. Mostly I was told I was overqualified. When hired I accepted a lower pay than counterparts with same responsibilities. I was always the only Black in a department and underwent plenty of bias and racism. Just two years ago I paid off my over $90k student loan after years of payments. Recently retired I purchased an older PUD condo in a "suburb" in this town there maybe a handful of Blacks. While I had repairs to do I did come in with EQUITY. THANKS for your info. As a single person it is eye opening.
@nattydreadlocks1973
@nattydreadlocks1973 3 жыл бұрын
You just now paying off your student loans???? Holy cow.
@rorober.1423
@rorober.1423 3 жыл бұрын
It was like a mortgage payment🤯
@January.
@January. 3 жыл бұрын
This show should be called "Martin & Company"
@reddyandre
@reddyandre 3 жыл бұрын
She's so great
@umasobservations
@umasobservations 3 жыл бұрын
I appreciate you bring attentions to this topic. I would add that some of the laws impacting Black Americans such as filing taxes as married, and the impact felt there, impacts everyone with similar financial profiles, regardless of race. These points of intersection can be used to highlight and teach how the system impacts everyone. I find it to be criminal to ask anyone, business or individual, with income under $500,000 to pay taxes. It is unnecessary and insulting to us all, when those at the financial bottom of this empire are responsible for our outstanding GNDP.
@thebookkeeper8404
@thebookkeeper8404 3 жыл бұрын
Closing notes - G. Floyd didn’t die because his heart was too big but because Chauvin’s heart was too small.
@norahnyoni1678
@norahnyoni1678 3 жыл бұрын
Ok
@roseofsharon4872
@roseofsharon4872 3 жыл бұрын
@Forest Pandit NO chauvin heart was too small. chauvin is a criminal , he committed murder .
@queenasantewaa4101
@queenasantewaa4101 3 жыл бұрын
@Forest Panditas You may, OR may not be aware of, ...with 460 some years of systemic racism (on all fronts) here in America, ..the enslavers benefited from FREE labor (throughout the diaspora), which contributes to the longstanding, and many ills of melanated peoples from generation to generation. As the generations of the enslavers, benefit to this very point in time space, from His-story. Melanated folk are NOT victims, but the continuous perpetuation of white supremacy. Of course, crime is directly related to economic inequities, et al. Reparations for the hue-man are past due. Should You choose to do some unbiased research to understand the **”evil genius” (**Dr. John Henry Clarke) of European domination here, on this Earth-ship, connecting the dots will reveal the truth. The fear of death as programmed here, is one of the greatest illusions. (assassinations/killing of folk, whistle blowers, et al. keep many docile, and from being on purpose, with joy, and ecstasy making contributions for the betterment of true livingness. Higher LOVE within the heart of Humanity will PREVAIL in the long and short of it. The Light is simply revealing all during this segment in this Divine Play. “As quiet as it’s kept,” LOVE is why we are all here~ ☮️
@queenasantewaa4101
@queenasantewaa4101 3 жыл бұрын
As we know, not all crimes are related to economic inequity. But, also greed in the phenomenal world. Hence, oftentimes, so-called *”white collar” crimes... Peace Be Still~
@ChristoverreK
@ChristoverreK 3 жыл бұрын
Was Chauvin charged with a Hate Crime? Was "racism" even mentioned during the trial, by either prosecution or defense? If not, why not? Yet we very commonly still see recitations referring to Floyd "as if" it is a hands down, no doubt, especially blatant racist crime. Based upon... what? Merely the skin color of Floyd and Chauvin. And doing *that* IS "racist". Worse, people that even know thus, and the wholer, factual truth keep MISusing it anyway. The truth is the same thing was done to a White man, before Floyd. And to two more after Floyd . Yet we hardly even hear about them at all. The False Narrative is so prized by so many that reality, ethics, scruples are tossed aside. And many people get misled into a counterfeit suffering about that. Jollet did a similar thing. What's the problem? Can't find enough genuine racism? So that deceit becomes the racism.
@berniehewett
@berniehewett 3 жыл бұрын
If you want to maximize book sales or clicks on your youtube video, then talk about a "system designed for WHITE wealth", however if you want to effect social change and to achieve a just and equitable system we need to remove race from the equation/statement. Since feudal times the 'haves' have been finding ways to protect their privilege and to maintain a dependent and mobile, workforce of 'have nots'. I understand that the USA has a unique history, but the tendency to play the racism card at every opportunity exacerbates tensions and reinforces victimhood. Poor white, yellow and red Americans are all disadvantaged by the described system along with black Americans. To her credit Professor Browns proposed workarounds would benefit economically deprived Americans irrespective of race.
@cyd9043
@cyd9043 3 жыл бұрын
Can someone do a piece on discrimination in home appraisal
@cyd9043
@cyd9043 3 жыл бұрын
@Forest Pandit Possibly, but unless that is part of numerical algorithm, it a bias, personal opinion. Numbers are numbers, recent sales are just that and should determine value, schools, etc.?
@cyd9043
@cyd9043 3 жыл бұрын
I’m very sure that you are correct
@SaturnStarOfDavid
@SaturnStarOfDavid 3 жыл бұрын
@Forest Pandit nope. Our home appraisers redline areas based on demographics and particularly if the home is black homes.
@percyastronautstatus.8780
@percyastronautstatus.8780 3 жыл бұрын
That is a REAL thing
@johnherr158
@johnherr158 3 жыл бұрын
I am surprised they allow the comments to stay on.
@douglassdesignsunlimited2018
@douglassdesignsunlimited2018 3 жыл бұрын
#Thankyou!!!!!! I can't put into words how appreciative I am of this information!!!
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
It’s all wrong. Literally every point. This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@easton838
@easton838 3 жыл бұрын
Caucasian's couldn't even handle the stress and systemic racism that black's have to endure for year's. They aren't built to endure these kinds of pressure's.. Everything has to be there way or No way or they will change the plan to benefit them...my parents went through a situation where they had to sue and won from there tax situation....both are college graduates and paid way more them they should have and won...it was blatant racism the judge ruled and he said how Brash the people were...This was year's and year's ago..
@freeindeed8416
@freeindeed8416 3 жыл бұрын
@@effscottfitz-gee2024 Thank you for this reply. This gets so exhausting
@strengthandhonor9334
@strengthandhonor9334 3 жыл бұрын
@@effscottfitz-gee2024 I appreciate you pointing this out. I have no clue how so many people belief this bs.
@enochgrey6392
@enochgrey6392 3 жыл бұрын
GET EDUCATED!! Educate yourself on the tax codes, educate yourself on mortgages, educate yourself on real estate and your equity. This has nothing to do with being BLACK and everything to do with knowledge. KNOWLEDGE IS POWER!!
@alfredomontez9641
@alfredomontez9641 3 жыл бұрын
I already sensed that and feel it, live it daily. Im glad this expert has found evidence; so many are blinded like she was before she studied the subject. Just check the white box if you want the the savings.
@zuzuspetals6040
@zuzuspetals6040 3 жыл бұрын
I am pursuing my Masters in tax and have completed many tax returns for individuals. U.S. tax code is very transparent because of our history (Boston Tea Party). No “gut feelings” needed, just look at the tax brackets for single or married filing separately vs married filing jointly (MFJ) and crunch the numbers. I did this using the tax brackets for 2021. Her argument centers around the difference between dual income households vs single income households that file MFJ. Brown claims a “stacking effect” for dual income households. That doesn’t hold up to the 2021 tax brackets. The calculation looks at total household income regardless if one or both spouses have earnings. Maybe the “stacking” Brown describes was true at the time of Seaborn in 1930 (the case was heard by SCOTUS in 1930, not 1948) but it is not true today - prove it to yourself. In fact, a couple filing MFJ with taxable income of $100K will reach 24% tax bracket with a total tax liability of $15,009; whereas, the single person with taxable income of $100K will actually reach 32% tax bracket with a total tax liability of $19,504. There is a tax cut for MFJ available to ALL.
@mamabear3217
@mamabear3217 3 жыл бұрын
I love this segment , our Vice President, Tim Scott and others in government should be enlightened
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@freeindeed8416
@freeindeed8416 3 жыл бұрын
This isn’t racism. It’s math and decision making
@lison973
@lison973 3 жыл бұрын
I’m a black woman. I think this is a rich vs poor issue, not primarily a black vs white. I own my own business. I’m aware of the black tax, I pay it. The only black vs white issue I saw was in the housing discrimination augment which is major.
@effscottfitz-gee2024
@effscottfitz-gee2024 3 жыл бұрын
This woman is either very bad at math or is completely lying with literally every single main point. Claim 1: Joint Taxes are Racist and penalize married black couples with 2 incomes and help white couple. Reality 1: Both the white and black households are making $100k, so both couples will pay the exact same amount in tax ($8,590 at current rates) Claim 2: Selling a home at a loss and not being able to deduct the loss from taxes is racist. Reality 2: The gain on the sale of a home is not taxable, so why would the loss on said home be tax deductible? Losses are used to offset gains, not ordinary income. Claim 3: White people are racist for preferring white neighborhoods (in the study she mentioned) Reality 3: She literally stated that black people in that study preferred black neighborhoods over white neighborhoods. Does that mean they are racist or is there a double standard? Claim 4: Student Loan Interest Deduction helps white people more than blacks, because blacks have more than the max $2.5k in annual interest. Reality 4: According to Brookings Inst, undergrad debt for whites is $16k and $23k. At 5.8% interest, the pay roughly $931 and $1,358 in interest annually. Both well below the max and fully deductible. Claim 5: Black employees can’t participate in employer sponsored retirement plans or need early withdrawals for family emergencies and incur large tax penalties, so it too is racist. Reality 5: Aside from the fact that there are various exempt early withdrawal options/loans, It is still moronic to not contribute at least up to the max employer match. If the $100k/yr black couple contributed up to the 5% match, the would only put in $5k. If they needed to cash out for some reason, even with tax and penalties, they would get $7,920. That’s a 66% after tax return for simply participating in the plan.
@symbologee
@symbologee 3 жыл бұрын
This video is propaganda.
@stanleyandrew840
@stanleyandrew840 3 жыл бұрын
Lobby to Have this Aired on FOX and CNN
@sterrshow5016
@sterrshow5016 3 жыл бұрын
Lol
@piezoification
@piezoification 3 жыл бұрын
I guess to reverse the logic my wife and I were once white. Also, should have moved off the tax discussion because irs really only penalizes low wage earners generally.
@bigvalley4987
@bigvalley4987 3 жыл бұрын
Yes, someone comment very eloquently about that on an averaged. Two wage earners will be taxed more than a one highly paid wage earners. And than pass it to their spouse most times through social security etc…And very seldom do black household have a one higher wage paying job.
@eelnoops5200
@eelnoops5200 3 жыл бұрын
Why is this so race specific? White and wealthy are not synonymous. I'm white, and my situation does not align with the scenarios presented in this video.
@bbutler7158
@bbutler7158 3 жыл бұрын
Another issue is that employers do not pay fairly to Black and Brown ppl. Higher level jobs that are obtained (few) and the market may pay $300-$400K annually sometimes with bonus and other financial benes the Black/Brown employee earns $90K for that same position. Either the applicants are clueless to the large salary gap or accept the position with the intention on taking on a better opportunity when it arises. Sadly, it's not just one issue. It's deliberately orchestrated. Had I known there was no intention on seriously hiring educated ppl I would not have gotten so many degrees. Believing I didn't have enough education to be accepted was delusional. The good ole boys network has never been broken. I don't see it ever will. 😑
@gartner101
@gartner101 3 жыл бұрын
Why is the dual filing issue a black issue rather than a class issue. Does this not also apply to dual middle income couples off all races?
@maeshellewest-davies7904
@maeshellewest-davies7904 3 жыл бұрын
Thank you!
@0649Hayes
@0649Hayes 3 жыл бұрын
A few days ago I saw on a news cast that Biden will only bring the tax rate from 21% to 28%. I hope that means something else because that doesn't seem to fix our inequality problem. Getting rid of the loopholes would be phenomenal, true, but FDR had a tax rate of 90% and everyone did VERY well. We need to rebuild our middle class desperately.
@christinasteiger388
@christinasteiger388 3 жыл бұрын
Fundamental problem. the difficulties she describes her parents as facing would apply to most white families today too. 58% of white families have both parents working full time vs 61% of black families, not a significant difference. There may have been a time historically when black families were much more adversely affected by the marriage penalty than white families, but not today.
@misstunes1765
@misstunes1765 3 жыл бұрын
With over half a century of enduring discrimination in the tax code; and you see the problem, with her years of research, as the small difference in the number of Black working parents as opposed to Caucasian working parents? Again, this is the problem Dr. Brown is referring to. Just ignore All the other factors that explain the existence of racism, to focus on the idea that makes you comfortable ignoring how racism is undermining all of our lives; even here in the tax system where the numbers don't lie. Yup Houston, we wil continue to have a "problem".
@misstunes1765
@misstunes1765 3 жыл бұрын
@Forest Pandit Typical response. "I don't understand" or rather I choose not to believe so it can't be true. May I remind you that the interview is with Ms. Brown, a highly educated author and accomplished tax analyzer. Even if you don't believe her brown skin self, refer to her Caucasian sources for evidence of the systemic racism that's as alive and well in every institution of this country as America's apple pies. If you can't disprove the institutional racism and discrimination that Dr. Brown cites then skip me with your willful ignorance. I'm not interested.
@misstunes1765
@misstunes1765 3 жыл бұрын
@Forest Pandit I don't feel like it Forest. Proving truth to you is not for my edification. I read her book, and countless others that do more than just make "anecdotes". If you're correct, I look forward to watching your history making findings on Amanpour and numerous other shows. In the meantime, I'll continue to read, research and educate myself so I can defend myself and my loved ones against truth refusers and hateful acts by people like you who deny the lived experiences of other human beings. Those of you who lack the humanity to be an ally instead of an enemy are complicit in perpetuating dangerous rhetoric that continues to hurt all parties present. That's your problem to overcome. Stay stuck if you want to. It would be great if you decide to become an agent for positive change, but I don't care to educate you any further to help you do it.
@bianka5459
@bianka5459 8 ай бұрын
Excellent book! I facilitated a conversation with her in Denver, CO.
@johnnyreb8030
@johnnyreb8030 3 жыл бұрын
My tax forms did NOT ask my race.....
@sterrshow5016
@sterrshow5016 3 жыл бұрын
Based johnny rebel fan
@johnnyreb8030
@johnnyreb8030 3 жыл бұрын
@@sterrshow5016 Where do I sign up for white benefits???
@dude999642
@dude999642 3 жыл бұрын
The top 1% of earners pay something like 50%(!) of all the taxes. That seems unfair.
@paulpetersen7041
@paulpetersen7041 3 жыл бұрын
Please follow Thomas Sowell. He's the real deal.
@zacharysmith5947
@zacharysmith5947 3 жыл бұрын
Taxes are unconstitutional! Because "We the People" are not represented" the data shows that as well.
@keithbrown3045
@keithbrown3045 3 жыл бұрын
This is straight out of school of Robert Mugabe economics! African Americans have gone through enough hardship and have come to far to listen to this unsubstantiated nonsense. Basic economics by Thomas Sowell is where we need to start if true wealth is going to be obtained.
@keelerhastings7109
@keelerhastings7109 3 жыл бұрын
If this is all true, please explain why , hispanics who can barely speak English have been able to buy entire towns, In Cook County Illinois, hispanics are the majority population in a number of suburban Cook County towns, they've bought most of the homes, is it that the tax codes does not penalize hispanics
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