On January 20, 2021, Joe Biden became president. But, what kind of policies has he implemented since?
Well, the Biden administration is aiming to make the income tax system more progressive. Biden’s plan would also raise taxes by $2.4 trillion over the next ten years.
Meanwhile, the Biden administration wants everyone making more than $100 million to pay at least 20% of their income in taxes. This would include unrealized capital gains. Currently, these are not taxed.
And, at the same time, SECURE 2.0 passed the House on March 29.