Fox Business: Biden’s tax plan would cost wealthiest 1% an extra $160K per year, study shows

That’s according to a new analysis published this week by the Institute on Taxation and Economic Policy, which found that the wealthiest 1% of Americans would pay an extra $159,010 in taxes each year if Congress passes the Biden administration’s newest $1.8 trillion economic initiative.

By comparison, the top 4% of households – or those that earn between $276,200 to $681,600 – would see a tax increase of just $2,960, according to the non-partisan think tank. Americans earning less than $276,200 would likely not see their taxes rise under Biden’s proposal. Read more