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    President Biden says anybody making less than $400,000 a year ‘will not pay a single penny in taxes’

    Virginia- President Joe Biden said anyone making less than $400,000 annually wouldn’t pay a “single penny” in taxes under his plan.

    “The reason I’m bothering to do this is I keep hearing out in the press, ‘Biden’s going to raise your taxes,’” Biden said during an address at a community college in Portsmouth, Va. “Anybody making less than $400,000 a year will not pay a single penny in taxes. And we will not increase the deficit, either, unlike the last gigantic tax cut.

    Biden has proposed a $2.3 trillion infrastructure plan and an additional $1.8 trillion spending plan. He’s proposed increasing capital gains taxes to match income taxes, among other measures, but has maintained that no one making less than $400,000 annually would see a tax increase.

    Biden added on Monday, “It’s about balancing the system and growing the economy.  It means wealthy investors no longer pay lower marginal tax rates than their secretary pays — the secretary in their office”.

    Full Remarks by Presidnet Biden

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