Multiple sources familiar with the discussions underway tell CNN that Biden's forthcoming American Family Plan could nearly double the capital gains tax for people who make more than $1 million a year by taxing it like wages and salaries, and raise the top marginal income tax rate from 37% to 39.6% for households making $400,000 or more in income.
The proposal would make good on Biden's campaign trail promise to raise taxes on the wealthiest Americans and corporations and is his way of funding the American Family Plan, which is currently expected to clock in around $1 trillion. The sweeping plan will be centered around child care, paid family leave, education funding like free community college tuition and other domestic priorities.
So who’s paying for all this
Hard for a life long politician & head of a family engaged in questionable 'fund raising' to understand that work produces wealth. Not even God criticizes wealth honestly earned. Government never produces wealth. It consumes it. Bigger government consumes more hurting people.
Moron article the money he’s proposed barely any of it goes to jobs 🤡🤡😂😂
We get taxed when we make it. We get taxed when we spend it. We get taxed when we save it.
Tax any and all politicians to the HIGHEST tax rate they impose on 100% of their income. Then tax the $ they get for travel, staff and fundraising. They should be in the office working 40 hours per week and not off giving TV interviews or speeches to raise $
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