Posted by Michael Wonder on 08 Mar 2023
Biden calls for tax on the wealthy to extend Medicare funding
8 March 2023 - President Joe Biden this week called for higher taxes on wealthy Americans to extend Medicare funding as part of his 2024 budget.
President Joe Biden this week called for higher taxes on wealthy Americans to boost Medicare as part of his 2024 budget, aiming to help fund the program for at least 25 years.
The plan would increase the net investment income tax from 3.8% to 5% for earnings of more than $400,000, including regular income, capital gains and so-called pass-through business income, which flows to individual tax returns, according to the White House.
