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Taxes would skyrocket for the top 1% under the Biden plans: Analysis

According to a new analysis by the Tax Policy Center, federal income taxes for high-income households would increase significantly under the guidelines proposed by President Biden, while middle- and low-income households would lower taxes. The top 1% of households making at least $ 800,000 would pay an average of more than $ 213,000 over the next year, according to Biden’s tax plans, while the top 0.1% of households that are at least $ 3.6 million earn, would pay an average of $ 1.6 million more. At the other end of the i

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