money

President Biden has drawn a pretty clear-cut line at the amount of money he believes makes someone rich. In numerous speeches, he's said that those making $400,000 or more should pay a higher tax rate because "they can afford to pay a little more."

Biden has proposed a tax increase on high-income earners to help pay for the social spending the country has done to offset economic problems caused by the pandemic.

In a joint interview with Vice President Harris, Biden said, "I will raise taxes for anybody making over $400,000," and anyone making less than that would face "no new taxes."

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