Newsweek: Joe Biden Tax Calculator—How Democrat Candidate’s Plan Will Affect You

A report earlier this month by the Institute on Taxation and Economic Policy (ITEP), a nonpartisan think tank based in Washington, D.C., noted: “Just 1.9 percent of taxpayers would see a direct tax hike (an increase in either personal income taxes, payroll taxes, or both) if Biden’s tax proposals were in effect in 2022. The share of taxpayers affected in each state would vary from a low of 0.6 percent in West Virginia to a high of 3.7 percent in Connecticut.”

The ITEP report, which looked at the impact of Biden’s proposed personal income tax and payroll tax increases for 2022, included an outline of the “Share of Tax Change” across seven different income groups (ranging from the richest 1 percent to poorest 20 percent in the country). Read more