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Tax the rich? Executives predict Biden’s big plans will flop POLITICO 1 hr ago By Ben White © T.J. Kirkpatrick-Pool/Getty Images Among other measures, President Joe Biden has proposed raising the top marginal tax rate on individuals to 39.6 percent from 37 percent now. President Joe Biden wants to fund his $4.1 trillion infrastructure and family policy agenda with a huge pile of tax increases on corporations and the wealthy. The business community is dismissing the threat. Corporate executives and lobbyists in Washington, New York and around the country say they are confident they can kill almost all of these tax hikes by pressuring moderate Democrats in the House and Senate. And they think progressive Democrats don’t really care about the costs of new programs and will be happy to push through as much spending as they can and then run on tax hikes in 2022 rather than actually pass them this year.

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