georgephillip
Diamond Member
- Thread starter
- #41
Probably not significantly.But will you cut the taxes for the common person?
How Does Biden’s Tax Plan Affect You?
"President-elect Joe Biden’s proposed tax plan would raise taxes on high-income households and corporations. At the same time, he plans to increase tax credits for many low- and moderate-income families.
"Biden’s plan would repeal many of the tax cuts outlined in the Trump-sponsored Tax Cuts and Jobs Act (TCJA).
"Biden would make the tax code more progressive, meaning more affluent households would pay taxes at a higher rate than low-income taxpayers.
"By 2030, Biden’s tax increases would reduce after-tax income by 7.7% for the top 1% of taxpayers. The net effect of the biggest changes is to increase federal revenue by $3.3 trillion over 10 years."