DMLNewsApp and TeamDML.com founder Dennis Michael Lynch hosted a Facebook Live video Tuesday morning to weigh in on a massive tax increase Biden is reportedly planning to implement.
Biden’s next spending initiative, expected to cost as much as $4 trillion, could include an increase in both the corporate tax rate and the individual rate for high-income earners.
The corporate tax rate will reportedly be increased from 21% to 28%, and raise the income tax rate on individuals earning more than $400,000. It will also expand the estate tax, create a higher capital-gains tax rate for individuals earning at least $1 million annually and pare back tax preferences for so-called pass-through businesses.
WATCH the important video below, as DML explains what this is going to do to the American economy.
Listen to the latest daily DML podcasts below! Then please share. We are skyrocketing on the podcast charts! And if you have the DML NEWS APP, please tell people to download it today and help conservatives have a real voice.