Financial Focus: The Joe Biden Economic Tax Plan
As we get ready to watch the Republican convention and the other side of our democracy, one thing that we can not forget is what the next President is going to have to deal with, whomever it is: The Government is going to need tax money for Government Revenues while trying to assist lower paying workers with children .
1. He wants to make the Corporate Tax higher.
Under his tax plan, the corporate tax rate would be increased to 28%- almost a 30% increase to where it is now.
Increasing the corporate tax rate to 28%, Biden believes, should be responsible for raising roughly, $3.3 trillion to $3.7 trillion in estimated extra revenue over the next decade.
2- A 50% increase in Corporate International tax
If you make over $400,000 in income, own a business and handle foreign exchange, get ready to cough up an extra 80%.In between, what many would call the middle class, the change would be minicule.
Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Co-Op City News, The Bronx News, thisisthebronX.info, The Parkchester Times and The Bronx Chronicle. Mr. Rivieccio also pens a financial article called “Money Talk”.
Anthony is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. You can reach Anthony at 347.575.5045.