The Strategist

Biden promises to raise taxes for super-rich in new budget

03/01/2023 - 10:29

According to U.S. President Joseph Biden, his budget plan would increase taxes on the very wealthy.

Gage Skidmore
Gage Skidmore
"I want to be explicit that I'll be increasing taxes. All billionaires should cease paying 3 percent, "said Biden.

On March 9, Biden is expected to present a budget plan to Congress.

The American president emphasized that he has no plans to break his pledge not to increase taxes on people whose income is less than $400,000 per year. Biden claimed that taxes on the extremely wealthy would help him carry out his plan without adding to the burdens on the rest of the citizens.