What Would Your Tax Rate Be Under Biden’s Plan?
5th October 2020
Presidential candidate Joe Biden has announced that, if elected, his goal will be to make major changes to tax rules, mostly by raising taxes on the wealthy as well as on corporations. In fact, the Penn Wharton model, prepared by the University of Pennsylvania, indicates that Mr. Biden’s plans would raise $3.375 trillion in additional tax revenue from 2021 to 2030.
And how much would it go up once they realize that it’s still not enough to pay for all that extra spending?