Business Insider: America’s wealthiest added $195 billion to their fortunes in Biden’s first 100 days

While the richest Americans saw gains under Biden, he’s making moves to tax them more heavily to offset the cost of his next big expenditure: an infrastructure package that encompasses everything from universal pre-K to affordable childcare and education.

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While that may not impact the stock market much, Biden’s proposals do have some wealthier Americans scrambling and calling up their tax and estate advisors. A report from the Institute on Taxation and Economic Policy (ITEP) found that virtually all tax changes will be concentrated among the top 1% of Americans, who would see their taxes increase by an average of around $100,000 a year. Read more

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