TaxProf Blog

Editor: Paul L. Caron
Pepperdine University School of Law

A Member of the Law Professor Blogs Network

Friday, June 29, 2012

How Current Tax Law Discriminates Against Low-Income Taxpayers

Kelly D. Edmiston & Kenneth Spong (both of the  Federal Reserve Bank of Kansas City), Promoting Wealth Building Through Homeownership:

Current tax policies, while commonly thought to promote homeownership, have generally left low-income homeowners behind other homeowners. Using a number of simplifying assumptions, our estimates of lifetime homeowner tax subsidies suggest that the average homeowner in the lowest-income quintile may receive cumulative tax subsidies that are roughly one-thirteenth the size of those received by someone in the highest-income quintile. From an asset- and wealth-building perspective, the tax system thus places low-income households at a very large disadvantage -- both in their quest to become homeowners and in what happens after they achieve homeownership status.

http://taxprof.typepad.com/taxprof_blog/2012/06/how-current-tax-law.html

Scholarship, Tax | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341c4eab53ef017742bb92f7970d

Listed below are links to weblogs that reference How Current Tax Law Discriminates Against Low-Income Taxpayers:

Comments