Biden seeks to tax ‘rich’ people, including 54% tax on New Yorkers

Biden seeks to tax ‘rich’ people, including 54% tax on New Yorkers
White House video, YouTube

[Ed. – How many times over did centrist Joe sell his soul to Satan to become president?]

President Biden will seek new taxes on the rich, including a near doubling of the capital gains tax for people earning more than $1 million a year, to pay for the next phase in his $4 trillion plan to reshape the American economy.

Mr. Biden will also propose raising the top marginal income tax rate to 39.6 percent from 37 percent, the level it was cut to by President Donald J. Trump’s tax overhaul in 2017. The proposals are in line with Mr. Biden’s campaign promises to raise taxes on the wealthy but not on households earning less than $400,000.

The president will lay out the full proposal … next week. It will include about $1.5 trillion in new spending and tax credits meant to fight poverty, reduce child care costs for families, make prekindergarten and community college free to all, and establish a national paid leave program. …

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(h/t Weasel Zippers)

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