Biden has gone on record to suggest that he would be open to changes in Social Security which might result in lower payments for some. Biden has also considered increasing the age of retirement as a way to keep the Social Security system solvent.
Biden has, at times, seemed sympathetic to Republican arguments to increase the age of retirement as a way to keep Social Security solvent and to modify how benefits are calculated adjusting for inflation -- maybe resulting in lower benefits.
Biden is not going to quadruple anybody’s taxes, but he will increase the tax burden on the very rich. The richest 5 percent of taxpayers would bear almost the entire burden of Biden’s plan, which would raise $2.8 trillion over the next decade...
The Lightfoot administration intercepted at least $27 million in 2020 from residents’ state tax refunds to collect on debt, disproportionately hitting lower income neighborhoods and communities of color.
The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.
Two articles: The Fair Tax Amendment: Why the ‘Illinois Exodus’ Could Be a Red Herring (The Chicago Reporter), Flat tax: 'Subsidy for Wealthiest Illinoisans' (One Illinois)
The upward redistribution of income has cost Americans workers $50 trillion over the past several decades. On average, extreme inequality is costing the median income full-time worker about $42,000 a year.
New York Democratic legislators are trying to tax stock trades and capital gains. Wall Street is horrified by such a development — but luckily, their millions in campaign contributions have helped create a solid friend in Andrew Cuomo.
The Proposition 15 ballot measure aims to hike commercial tax rates and potentially raise billions to support funding for schools and other public infrastructure.
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