Thursday, November 14

Which people would be affected by the tax increase proposed by Biden


The president’s opponents criticize the infrastructure plan, but the tax hike would be on the richest

Qué personas serían afectadas con incremento de impuestos que propone Biden
President Biden defends his infrastructure and jobs plan.

Photo: JIM WATSON / AFP / Getty Images

President Joe Biden is convinced of the need to increase taxes on people from higher income to move forward with your infrastructure project and jobs.

The tax increase would be for those households with incomes greater than $ 200, 03 annual dollars , which are only 2 of each 100 households.

On Wednesday, President Biden presented his $ 2 project. 21 billions of dollars and rejected that this increase is a “punishment”, but rather a way of opening opportunities to the rest of the population n.

“This is not a punishment for those who achieve that income … It is about opening opportunities for everyone else,” he said. “Nobody, let me say it again, nobody who earns less than $ 400, 000 will see your federal taxes go up, period ”.

The portal DQYDJ (Don’t Quit Your Day Job) estimated that the median income of American households is $ 97, 973 dollars in 2020 , information he obtained from the Census Bureau.

Criticisms include who say that the middle class will be affected, although this category includes households with incomes of $ 34, 200 to $ 100, 800 Dollars.

Most Hispanics would not be affected , since the average income per family in this community is $ 51, 000 annual dollars .

The confusion arises because the tax will be applied by people, but considering family income, explained the White House spokeswoman, Jen Psaki . That is, if in a couple both win $ 136, 000 annual dollars, the increase applies there.

The Economist Andrés Vinelli , Vice President of Policies Economics of the Center for American Progress (CAP), recognized the need to increase rates as proposed by Biden.

“(The plan) is to reimpose taxes on people, as they were before … basically people who are rich, who are at maximum income” , defended.

In corporations

The President Biden’s plan also includes an increase in the corporate rate, which would return almost to the levels before the former president Donald Tru mp .

The proposal includes corporate tax rate at 28 percent. The reform of 2017 reduced it from 35 percent to 21 percent.

Entrepreneurs say they will push for better infrastructure and lower taxes.

“We will be lobbying Congress on both aspects of the plan: infrastructure and taxes” , told The Hill a spokesperson for the Retail Industry Leaders Association. “We want to find a way forward that does not include an increase in the corporate tax rate.”