It is just a peaceful robbery.

“The law also doubled the estate and gift tax exemption to more than $11 million from 2018 through 2025.
Meanwhile, Biden’s  plans calls for tax increases on households with taxable income exceeding $400,000.
Those taxpayers could see their individual income taxes tick up under a Biden presidency, as he has called for boosting the top individual income tax rate to 39.6% from its current level of 37%.
The Democratic candidate has also called for increasing levies on wealth transfers.”

https://www.cnbc.com/2020/10/08/these-households-can-expect-a-tax-increase-under-bidens-tax-plan.html

You could just look up “Biden Income Tax plan” and you’ll find endless articles talking about the same thing.

Lll you don’t need to worry about the estate tax

Oh so he’s raising the estate tax which only applies to like .2% of people and the income tax on the richest 1% of Americans which probably has a billion loopholes. So not only does this only apply to the richest Americans, it’s not even 50% like what the OP claimed it to be. Got it.

That’s why it’s called a cap. Even the OP knew this.

Also, the cap was reduced to 37% in 2017. Under Biden, an increase by 2.6% might not sound terrible...
Another increase might not sound terrible...
Another increase might not sound terrible...
Another increase might not sound terrible...

We’ve seen it all before. Slowly increasing income tax is the way to get to 50%.

Yeah, so his tax raises only apply to the richest Americans. Good. And it should continue to be raised.

The OP seemed to insinuate that it would apply to most individuals.

And no, history has shown the opposite of what you claim. The marginal tax rate in the 1950s was 91%, and it was a period of rapid economic growth. The rate has been dropping ever since. Now it’s at 37% marginal.

That 91% marginal tax rate was only on paper. Most families (even high income families) paid 42% back then.

Also, no. It hasn’t been decreasing ever since. In 2014, the tax was 34%. It was raised higher, then lowered to 37% under Trump.

https://slate.com/business/2017/08/the-history-of-tax-rates-for-the-rich.html

If the income tax cap is higher for the same amount of income, (37 for 400000 moved to 39.6 moved to 400000) it means your income tax is higher as well. It’s called proportion.

Main source is reality.

$400,000 x .396 means you’re losing at least $158,400 by the way

He has a point

The OP

Never paid less under a Democrat. Never got any more service from them in exchange for my higher taxes. I am biased I live in taxifornia, which is the greatest example of why you don’t want Dems in charge of everything.

I made about $200k last year and paid more taxes under trump than Obama. I don’t mind paying taxes but I don’t like paying more than those that make more money than me.

Well 50% may seem like a stretch but add all the taxes together and they ain’t far from that now.