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dB rich folks.. be prepared to pay more taxes....


r2d2

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With the former president's income tax cuts, Americans immediately saw somewhere between a 0.4 per cent and 2.9 per cent increase in their paychecks after taxes.Now the White House is preparing to roll out another sweeping plan to tackle infrastructure and the economic crisis, which some say could fall somewhere between the $2-$4 trillion mark.Among Biden's ideal proposals in the tax hike is raising the corporate tax rate by 7 per cent from 21 per cent to 28 per cent.

He also plans to raise the income tax on those earning more than $400,000 and implement a higher capital-gains tax rate for individuals earning at least $1 million per year to help fund his next spending package.

Also on the docket to get Americans to pay for the plan is scaling back tax preferences for businesses and expanding the reach of the estate tax. 

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