Last night Biden proposed spending $4.1 trillion,( $1.8 on education, child care, etc, $2.3 on infrastructure). Do you believe that raising taxes on the capital gains of individuals making more than $1 million will pay for this increase in spending?
Already 90% of income tax receipts come from the Top 1%. And now Biden wants to tax them even more.
Back in the 1960's, the UK's taxes were so high, especially on artists, that the Beatles all fled their homeland. Biden's kleptocracy will drive even more American job creators to places like Costa Rica and other tax havens like Ireland.
Biden plans to raise the top tax rate to from 37% to 39.6% for families with taxable income above $509,300, and for individuals above $452,700, to help fund his $1.8 trillion American Families Plan, the official said.
IF u fit into the HALF A MIL bracket or more, TAXED appropriately is required. THAT is alot of money,
even shark tank thinks so,when asking for equity in a capital venture....AMATEURS will come in
with 7 1/2 or 10 percent equity and get NAILED to the wall...ALL will say they have a problem with the evaluation.