During a joint session to Congress next week, President Biden will present his p…
During a joint session to Congress next week, President Biden will present his plan to tax on the wealthiest Americans. Multiple sources tell CNN that Biden could nearly double the capital gains tax for people who make more than $1 million a year by taxing it like wages and salaries and raise the top marginal income tax rate from 37% to 39.6% for households making $400,000 or more in income.
The idea of the proposed changes is to reward “work, not wealth,” a concept Biden championed on the campaign trail and which has been a driving force behind his economic policies since taking office.
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