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Politics : Formerly About Advanced Micro Devices
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To: locogringo who wrote (1269478)10/14/2020 4:55:39 PM
From: puborectalis1 Recommendation

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The tax proposals of Democratic presidential nominee Joe Biden would raise $2.8 trillion over 10 years and reduce taxes for most households in the near-term, according to an analysis released Tuesday by the right-leaning American Enterprise Institute (AEI).

"Overall, Biden’s tax proposals would make the US tax code more progressive," AEI researchers said in their paper.

Biden has offered a number of tax proposals aimed at raising taxes on wealthy individuals and corporations. These include undoing portions of President Trump's 2017 tax-cut law that cut taxes for people making over $400,000, subjecting earnings over $400,000 to Social Security taxes, raising the corporate tax rate from 21 percent to 28 percent and changing how U.S. companies' foreign profits are taxed.
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