Poor benefit from tax breaks for the rich who invest in distressed neighborhoods
NY Times:
It appears they did lure investments in distressed areas. The rich are more likely to have enough money to invest regardless of the location. The poor pay very little in taxes and do not have money for investments generally. However, the poor do benefit from these investments because of the jobs created by the development in their area. The criticism of the program in this story looks like liberal gobbledygook.
How a Tax Break to Help Poor Communities Became a Bonanza for the Rich
Opportunity zones were created as part of the Trump tax law to lure investment to distressed areas. But much of the money is fueling real-estate developments targeting the affluent.
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