• About
  • Masthead
    • Editorial Board
  • Advertise
  • Join Us
  • Archives
The Wellesley News -
  • News
    • Residential halls experience maintenance issues
      Residential halls experience maintenance issues
    • Wellesley community grapples with ChatGPT’s implications
      Wellesley community grapples with ChatGPT’s implications
    • Students protest for trans and nonbinary rights
      Students protest for trans and nonbinary rights
    • News in Brief
    • Senate Report
  • Features
    • ES 300 Conducts Waste Audit
      ES 300 Conducts Waste Audit
    • Scholar-advocate visits Wellesley to discuss women and incarceration
      Scholar-advocate visits Wellesley to discuss women and incarceration
    • Diana Khoi Nguyen leads workshop and poetry reading
      Diana Khoi Nguyen leads workshop and poetry reading
    • Alumnae Spotlight
    • Faculty Focus
  • Opinions
    • Navigating Anonymity-Seeking Apps at Wellesley
      Navigating Anonymity-Seeking Apps at Wellesley
    • Trans people are not your culture war
      Trans people are not your culture war
    • The Silicon Valley Bank collapse has exposed how the government chooses to spend its money
      The Silicon Valley Bank collapse has exposed how the government chooses to spend its money
    • Staff Editorial
    • Letters to the Editor
  • Arts
    • Hozier stuns with “Eat Your Young” EP
      Hozier stuns with “Eat Your Young” EP
    • Diana Khoi Nguyen leads workshop and poetry reading
      Diana Khoi Nguyen leads workshop and poetry reading
    • “Cocaine Bear” indicates the return of camp movies
      “Cocaine Bear” indicates the return of camp movies
    • Books Before Boys
  • Sports and Wellness
    • No image
      What even is a BORG and why does it matter?
    • Indoor Track & Field Team Prepares for Outisde
      Indoor Track & Field Team Prepares for Outisde
    • What even are BORGs and why do they matter?
      What even are BORGs and why do they matter?
    • Athlete of the Month
  • The Wellesley Snooze
    • Miss Me With That Gay Shit
      Miss Me With That Gay Shit
    • Tower House Prez Emails
      Tower House Prez Emails
    • Worst Human Being You’ve Ever Met Validated by Stone Center Therapist
      Worst Human Being You’ve Ever Met Validated by Stone Center Therapist
By Eshika Kaul OpinionsMarch 16, 2022

Why you should care about taxes

Taxes can be a unique tool for social change and lifting up marginalized groups. Photo courtesy of Unsplash

There are few words that elicit a similar level of dread in average people as taxes. Simply mentioning the word often results in immediate not-so-subtle groans and sighs. 

While taxes are associated with pain and confusion for most, taxes can actually be a tool for empowerment. The tax code is very closely intertwined with increasing equity and has historically been the engine of social justice movements. However, the overly complex language and confusing rules can result in many taxpayers not knowing about or receiving the benefits they deserve. Even beyond this, some taxpayers, particularly those who are low-income or are non-English speakers, are manipulated by fraudulent tax filers who steal their refunds. Regardless of whether you hope to use the tax code to support your justice initiatives, to make sure your family has the right resources or to file your own taxes, it is important to learn more about taxes. 

The tax code has a unique position in knowing an individual’s financial and familial circumstances and because of this, it has been and can be used to provide support to historically disadvantaged groups. Some salient programs that have had national benefits include the Earned Income Tax Credit, American Opportunity Credit and the Child Tax Credit. The Earned Income Tax Credit, which provides workers with a refund of a certain percentage of their earnings, has been the most effective anti-poverty program for working age people. The American Opportunity Credit, a partially refundable tax credit that can give students a credit of up to $2,500 for qualifying higher educational expenses, has been able to offset the costs of college. The Child Tax Credit offers financial assistance to low-income families with children and has proven to decrease child poverty and increase social mobility for many families. During the pandemic, President Biden used the tax code as an engine to alleviate some monetary burden for low-income families. His monumental expansion of the Child Tax Credit lifted 3.7 million children out of poverty in December and cut child poverty rates by around 30%.  When filing taxes, learn whether your community, family or yourself can qualify for these programs because they have been a positive force across the country.

While the tax code has been used in historic ways the past couple of years to uplift many Americans, these changes are not permanent and action needs to be taken to support  them. For example, the Build Back Better Act introduced in 2021, which incorporated many of the previously mentioned social tax expansions, is unlikely to pass the Senate with the Advanced Child Tax Credit changes, due to a 50/50 split on party lines. With Democratic Senator Joe Manchin’s public disapproval of the Child Tax Credit, it is more important now than ever to reach out to your senator and advocate for passing this bill. But this is even beyond speaking to elected officials. You can pass a short certificate online on the IRS website to teach you about preparing returns and more generally about the tax code. Then, you can file taxes for yourself, your family or others at a Volunteer Income Tax Assistance (VITA) site. With the tax deadline quickly approaching on April 19 (April 18 for most other states), it is necessary to maximize the potential of the tax code, both by pushing for new reforms and helping everyday Americans access them.

Most importantly, as you continue on even past college, remember that behind the verbose language and excessive rules of taxes are learnable tools that you can use to support yourself and those around you. 

 

Disclaimer: While I discuss the ways in which the tax code can be beneficial to marginalized groups in the US, it is important to note that the tax system, like many institutions, has a history of racial prejudice. To learn more about racial bias in the tax code, read this article or Dorothy Brown’s book entitled “The Whiteness of Wealth.” 

Please reach out to Eshika at eshika.kaul@wellesley.edu if you are interested in learning more about taxes or getting involved with volunteering. Stay tuned for a more comprehensive information and resource guide on taxes that Eshika is currently compiling.

Share on

  • Facebook
  • Twitter
  • Pinterest
  • Google +
  • LinkedIn
  • Email
Previous articleLack of opinion diversity at Wellesley College
Next articleThe News in Conversation: Wellesley Students of Education

You may also like

Sidechat and YikYak's logos on a teal background

Navigating Anonymity-Seeking Apps at Wellesley

Chalk art on Wellesley's Academic Quad Reading "Not Just Acceptance, Liberation"

Trans people are not your culture war

The letters SVB in red are crumbling to pieces

The Silicon Valley Bank collapse has exposed how the government chooses to spend its money

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

COPYRIGHT © 2023 THE WELLESLEY NEWS
Back to top