Biden tax increases will ‘damage’ your life savings

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Will A Biden Tax Increase Destroy A Recovering Economy?

Biden planning first major tax hike in almost 30 years

Biden tax increases will ‘damage’ your life savings, Grover Norquist says

 

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

After the most vicious debate in the history of our country, Republicans and Democrats finally agreed on what to do about the debt disaster of our nation: Absolutely Nothing.