Based on information released by the Biden campaign and conversations with its staff, the Tax Policy Center found that “high-income taxpayers would faceincreased income and payroll taxes.”
The median household income in the U.S. was $68,703 in 2019, according to the Census Bureau. So Biden’s plan wouldn’t affect most Americans.
A taxpayer making $75,000, or $3,000 biweekly, would not move to a higher tax bracket.
Are you rich enough to be affected by Joe Biden’s tax plan? That’s the question at the heart of many rich.