US President Joe Biden proposes raising corporation tax from 21% to 28% and this is moving the needle in markets.
- Biden wants a 25% billionaire tax and large levies on rich investors.
- Biden proposes tax on income over $400,000 at 39.6% in budget.
''My budget will ask that the rich pay their fair share so the millions of workers who helped build that wealth can retire with the Medicare they paid into,'' Biden posted to Twitter.
Tomorrow, I’ll be releasing my 2024 budget to build on the historic progress we’ve made together over the past two years.— President Biden (@POTUS) March 8, 2023
It’s pretty long, so text me “Budget” at (302) 404-0880, and I’ll keep you up to date on the investments that matter most to you. pic.twitter.com/5ZSpl6Ay8S
US stocks futures are softer on the news.
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