1. What is the biggest difference between the taxation of ordinary income and capital gains?

2. What are the tax benefits related to wealth transfers? Include any limitations or thresholds in your discussion.

3. According to Dr. Brown, how and why do these differences in taxation for income type result in disparate outcomes for taxpayers of different races?

4. According to Dr. Brown, how and why do the tax benefits related to wealth transfers have disparate outcomes between taxpayers of different races?

5. What is your initial response to chapter 5: Gross Income and Exclusions?

o Was there any part that you found particularly interesting or important?

o Was there any part that you did not agree with or did not understand?

o What questions do you have?

o Should income source (e.g., ordinary vs. capital) be a consideration in the IRC? Why or why not?

o Should financial transfers to family members (through gift or estate) benefit from reduced or eliminated taxes?

6. Would you make any changes to the Federal tax policy related to capital gains? If so, what would you change and why?

7. Would you make any changes to the Federal tax policy related to wealth transfers? If so, what would you change and why?

o How would these changes help rectify the disparate outcomes by race?