May 23, 2022

Biden’s new tax proposal would make it the highest of any nation in developed world

A new tax proposal by President Joe Biden would make the personal income tax rate the highest of any nation in the developed world, according to a new report.

The shocking insight was revealed in a report by Fox Business on Monday.

“The budget blueprint that President Biden unveiled last week includes several tax hikes on the ultra-wealthy and corporations that would push the top U.S. rates on both individual and corporate income to the highest level in the developed world, according to a new analysis published by the nonpartisan Tax Foundation,” according to the report.

“The Biden team’s proposal would raise the average top tax rate on personal income to 57.4%, the steepest rate in the 38-member Organization for Economic Co-operation and Development,” it added.

The news also comes as concerns grow over the left’s push to spend record levels of taxpayer dollars. The plan includes $5.8 trillion.

Americans may be divided on many issues, but they are united on the issue of not wanting to pay more in taxes, regardless of partisan policies.

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