We must have some High income earners on PJ making over 400,000...
they seem so worried over the increase in corporate taxes being raised
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The
House legislation calls for reversing a key plank of the Republicans' 2017 tax cuts by
returning the top marginal income tax rate to 39.6%, up from 37%. That new top rate would apply to single filers with taxable income greater than $400,000 a year and married couples filing jointly earning more than $450,000 annually.
That's lower than the roughly top 1% threshold that Biden proposed earlier this year in his
American Families Plan. But the committee's plan also is in keeping with the President's pledge that he would not increase taxes on those earning
less than $400,000, which is more than 90% of taxpayers.
https://www.cnn.com/2021/09/19/politics/democrats-taxes-rich-explainer