wardorican
Well-known member
Offline

Biden planning first major tax hike in almost 30 years: report
President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus pack…

And as the report says, it's in the areas he already mostly covered. I think the 28% corporate tax is fair, that's what was originally in Trumps plan, until it got lowered even more to 21%. It was at 35% prior to any action, so while this is an increase, it is lower than it was just 4 years ago.
President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus package.
Unidentified sources told Bloomberg that the increases will reflect the promises Biden made during his 2020 campaign.
The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making more than $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital gains tax rate for individuals making at least $1 million.
It says it will raise about $2.1 trillion more over the next decade.