Taxes
America’s Ultra-Rich Fear Biden Will Close Their Favorite Tax Loopholes
The U.S. president, along with Democrats in Congress, have floated plans to end a long list of sometimes-obscure perks and exclusions.
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The rich shouldn’t be too afraid of Joe Biden’s tax plans. It’s the really rich who should be getting nervous.
The U.S. president is set to unveil a tax package on Wednesday that promises to raise revenues from those earning $400,000 or more a year. But executives and professionals making over $500,000 annually already pay relatively high tax rates.