The Biden Administration has put forth a proposed $2+ trillion plan partially dedicated to improved national infrastructure and paid for by the wealthy and corporations. A Morning Consult/Politico survey found that more than 60 percent of voters believe upper-income individuals and corporations pay too little in federal taxes. The Biden plan would increase the corporate tax rate from 21 percent to 28 percent. Note that 57 percent said they would support Biden’s infrastructure plan if it were paid for by rich people (>$400,000/year), and 47 percent would support it if paid by corporations. Meanwhile, a Gallup poll found that 70 percent of Americans believe that Biden will have to raise their taxes.  The structure of any new ta...

TAGS – North America, Macroeconomics