Yahoo! Finance: Only the ‘lucky few’ will pay higher taxes under Biden’s plan, analysis finds

President Joe Biden is planning to raise revenue to fund his infrastructure plans through numerous tax hikes that would mostly hit the top 0.7% of Americans, a new analysis found.

“The vast, vast majority of the population will not see any tax increases,” Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy and co-author of the report, told Yahoo Money. “This plan would really just ask the people who’ve been very, very successful and have done very well throughout recessions and pandemics… ask those lucky few to pay more.” Read more