Anybody making less than $400,000 a year will not pay a single penny in taxes.
The reason I’m bothering to do this is I keep hearing out in the press, “Biden is going to raise your taxes.” Anybody making less than $400,000 a year will not pay a single penny in taxes. And we will not increase the deficit either, unlike the last gigantic tax cut, which increased the deficit by $2 trillion.
It’s about balancing the system and growing the economy. It means wealthy investors no longer pay lower marginal tax rates than their secretary pays — the secretary in their office.