National Interest Quotes Wayne Winegarden on Biden Tax Plan

That means 98 percent of households wouldn’t see tax increases under the Biden administration’s tax agenda. The top 2 percent, though, would experience the tax cargo that will help pay for Biden’s expensive policies, like the upcoming infrastructure and climate package. . .

. . .

“The tax code is so complex that $400,000 can mean all sorts of things,” Wayne Winegarden, a Senior Fellow in Business and Economics at the Pacific Research Institute, said. “For instance, is the filer single, or a married couple? From a straight language perspective, $400,000 means [adjusted gross income] of $400,000. From this interpretation, trying to lower the rate for single filers is breaking the promise not to raise taxes on anyone making less than $400,000.”