White House sends mixed message on higher taxes
| The White House has sent mixed signals over its plans to raise taxes on the wealthy to pay for some of its policies, providing a lack of clarity about how President Biden’s $400,000 threshold for tax increases would work.
The absence of details comes as Democrats are already debating privately how to pay for their programs, an issue when it comes to taxes that splits the party not only on philosophic lines, but on regional ones. Most Democrats support the idea of raising taxes on the wealthy and corporations, but Democrats representing suburban areas with high costs of living are sensitive as to what’s judged middle class and upper middle class, and how tax hikes would affect their communities. And conservatives have already started to argue that Biden is seeking to violate his pledge to only raise taxes on the wealthiest Americans. |
