Do You Support a Biden Tax Increase? Take Our Poll
President Biden is expected to announce major federal tax hikes, the first in 30 years, which will probably be announced as part of the next big legislation bill- the infrastructure package.
The proposed tax hikes would include raising the corporate tax from 21% to 28%. Other key measures would reportedly increase the income tax rate on people making more than $400,000; expand the estate tax; pare back tax preferences on pass-through businesses such as limited-liability companies; and set up a higher capital gains tax rate for individuals making at least $1 million, according to Bloomberg, citing people familiar with the plan.
We want to hear from you: What do you think about these hikes? Do you think it will help shrink the wealth gap?
More From GOBankingRates
- If You Get a Stimulus Check, How Will You Use It? Take Our Poll
- How Long $1 Million in Savings Will Last in Every State
- 30 Essential Money Habits
- 27 Ugly Truths About Retirement
About the Author
Check Out Our Free Newsletters!
Every day, get fresh ideas on how to save and make money and achieve your financial goals.
