Economics
Biden’s Tax-and-Spend Plans Are Big, But Wealth Gaps Are Bigger
- Tax hikes for rich and more social spending at center of plan
- It’s a bid to reverse long-run trend of wealth flowing upward
Photographer: Spencer Platt/Getty Images
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President Joe Biden’s promise to start narrowing income and wealth gaps underpins every part of his economic program, from almost $4 trillion in spending plans to the biggest tax increase in a generation.