Ending all tax exclusions would halt the self-reinforcing white wealth cycle

Evidence

The no-exclusions rule is straightforward: All income is taxable. If you sell your home, you pay taxes on the gain from the sale; if you inherit a piece of property, you pay taxes on its fair market value. You are taxed on your total wage income, including whatever portion goes into a retirement account (whether employer-provided or self-funded). Current exclusions, as we’ve seen, privilege white taxpayers with existing wealth at the expense of black taxpayers without it. — Dorothy A. Brown, The Whiteness of Wealth, 522

Categorization

• XREF: Connects to the reader’s existing knowledge from earlier chapters in this same book on how home sale and inheritance exclusions privilege existing wealth.