Biden To Propose Tax Hike On Richest Individuals

President Joe Biden says he will propose a tax hike on investment gains of the wealthiest individuals to help pay for his massive infrastructure and jobs package, a top White House economist said on Monday.
Biden is expected to layout his plan this week for 2 trillion dollars investments to create millions of jobs.
The increased tax on profits earned from sales of stocks and other assets will only impact those earning One million dollar a year.
Brian Deese, head of the White House National Economic Council said the change will help to offset t long term cost of investments by making reforms to the tax code that reward work and not just wealth
Biden also proposed raising the official corporate tax rate to 28 percent from 21 percent, partially reversing former President Donald Trump’s 2017 corporate tax cut.
Biden is due to address a joint session of Congress on Wednesday night.