| 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.
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.- The Hill |
Will A Biden Tax Increase Destroy A Recovering Economy?
