Here’s How Biden’s Proposed Tax Increases Will Affect You – By Ira Stoll (Reason) / Mar 29 2021
It seems some are just waking up to the size and scope of the president’s federal tax plan.
“The largest federal tax increase since 1942,” is how The New York Times, in a front-page news article, is describing President Joe Biden’s plan for the American economy.
The Times doesn’t specify precisely how it is measuring the size of the tax increase—in terms of nominal or real dollars raised or as a percentage of gross domestic product. Whatever the yardstick, it is newsworthy.
One thing that made me chuckle is that it’s only now—months after the inauguration—that the Times is waking up to the scale of Biden’s tax increase plans and sharing the news with its readership at the top of its Sunday front page. This is so even though Biden was fairly open about the details of the plan during the campaign.
Some voices had even been warning about it in advance of the election.