The rich need to be taxed more, Joe Biden plans. The president was disappointed by labor market data

Biden, USA

US President Joe Biden plans to raise taxes for high-income Americans. “The super-rich will still be able to have their three houses,” said the White House chief, after being disappointed by August labor market data.

According to Biden, “numbers could be a little better.” But he said his economic agenda would help the country get better employment data. He plans to invest heavily to support the US economic recovery.

“We are able to make these investments without having to raise taxes by less than a cent on those who earn less than $ 400,000 a year,” Joe Biden said in comments after the August US labor market data was released.

On the contrary, people who earn above this threshold might already be afraid of Biden’s plans. “We will compare the conditions on the field. However, the super-rich will still have their three houses, “added Biden. He also pointed out that some people became significantly rich even during the covid pandemic. Tax increases are also expected to affect companies. Joe Biden has previously spoken of raising corporate income taxes from 21 to 28 percent.


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