Economist warns Americans over Biden’s potential tax hikes

Economist Steve Moore, associated with the Heritage Foundation, has raised concerns about President Biden’s proposed tax rates if re-elected.

On “Mornings with Maria,” Moore criticized Biden’s trillion-dollar budget for 2025, which includes $5.5 trillion in new taxes.

He highlighted several proposed increases, such as nearly doubling the capital gains tax rate, implementing a 25% minimum tax on high-net-worth households, and raising the corporate tax rate to 28%.

Moore also criticized Biden’s plans to tax unrealized gains, using the example of a farm’s value increase to illustrate potential issues, Fox Business has reported.

read more: https://www.foxbusiness.com/media/economist-warns-americans-over-bidens-potential-tax-hikes-scary

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