Taxes Would Soar for Top 1% Under Biden Taxes
If you anticipate making $800K or more this year, you may want to read this. With the upcoming Biden’s tax plan, the top 1% of households that make at least $800,000 may have to pay more than $213K next year while the top 0.1% of households earning at least $3.6 million would pay $1.6 million more on average. A household earning less than $26,000 would see their taxes fall by $600 on average, whilst households earning between $52,000 and $92,000 would pay $300 less on average. Low-income families with children would see a particularly large decline.
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