Millionaires dodged $2.4 billion in income tax, watchdog claims

[NewsFeeder]

Millionaires dodged $2.4 billion in income tax, watchdog claims

Those earning $1.5 million or more paid just 39% of their taxes, on average, within a year of their case being referred to a IRS tax collector, a report said.

More @ CNBC...

 

[Bullitt]

Doesn't look like the Biden tax hikes should affect average people, aka any of us here. Below from Bloomberg.

The following are among proposals currently planned or under consideration, according to the people, who asked not to be named as the discussions are private:

- Raising the corporate tax rate to 28% from 21%
- Paring back tax preferences for so-called pass-through businesses, such as limited-liability companies or partnerships
- Raising the income tax rate on individuals earning more than $400,000
- Expanding the estate tax’s reach
- A higher capital-gains tax rate for individuals earning at least $1 million annually. (Biden on the campaign trail proposed applying income-tax rates, which would be higher)

https://www.bloomberg.com/news/arti...jor-tax-hike-since-1993-in-next-economic-plan