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Undercutting the American Dream: Estate Tax Repeal Would Harm Latinos

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Publication Date: January 2006

Publisher(s): National Council of La Raza

Author(s): Luisa Grillo-Chope; Luisa Grillo-Chope

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Taxation and tax policy)

Keywords: Economic inequality; Hispanic population; Financial future; Charitable giving

Type: Report

Coverage: United States United States

Abstract:

This white paper issued by the National Council of La Raza concludes that repeal of the estate tax would exacerbate the wealth gap between Latinos and other Americans and reduce the amount of revenue available for the community’s key policy priorities. The paper examines how the estate tax works and its effects on taxpayers, the budget, and charitable giving. The paper notes that, contrary to public perceptions, the estate tax applies only to a small number of families; however, it does help to alleviate imbalances in the current tax system.