How Much Will Biden Raise Taxes?

Politics

To pay for desperately needed infrastructure repairs and improvements, Biden needs to raise taxes

Even while President Biden is on the road selling his pandemic relief package to the American people, attention is already turning to his next big piece of legislation: infrastructure.

Will Biden instead raise taxes to cover the cost of his infrastructure package? Given that the $1.9 trillion relief package has already increased the deficit, it is likely that Biden will have to raise taxes to pay for a huge infrastructure package.

Oh dear. Do you hear those dogs baying? Those are the Orange One’s supporters who have been warning us about the huge tax hikes that Biden will pass to pay for his socialist programs.

It amazes me how much they care about the rich who care nothing about them. Like the Orange One’s tax cuts that went mainly to his rich buddies. His supporters positively swooned over the magnanimity of His Orange Highness.

Never mind that they saw very little of that tax cut themselves and what little was cut was only temporary whereas the rich’s tax cuts were permanent.

But I digress.

Biden is contemplating raising the top tax rate from 37% to 39.6% for people earning $400,000 or more. On an income of $400,000, that’s a $10,400 increase. Not earth shattering but enough to make Republicans foam at the mouth.

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