The budget Biden proposes contains roughly $4 trillion in higher taxes over the next decade.
He keeps saying that he just wants millionaires and billionaires to "pay their fair share," but this plan isn’t so much a punch in the nose to the wealthy (who already pay 42% of the income taxes) but to the nation’s small business owners and the shareholders of large and successful companies. The Biden budget would raise the personal income tax rate to its highest level since Jimmy Carter was president.
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