Psaki: ‘The President’s Bottom Line Is that People Making Under $400,000 a Year Will Not Have Their Taxes Go Up’
EXCERPT:
PSAKI: "As it relates to the capital gains rates and the top margins that you’ve seen reported out there, the President’s bottom line is that people making under $400,000 a year should not, will not have their taxes go up. So if you look at these proposed numbers, which are consistent with what he talked about on the campaign trail, when he was running for president, what I can say is that it will only affect people making more than $1 million a year. That’s 0.3 percent of taxpayers, or three out of every 1000 taxpayers. That’s even as the top one percent saw their net worth rise by $4 trillion in the middle of a historic pandemic. So he has some bottom lines of where he will not budge fast on individual numbers and who will be impacted. But he’s also open to discussion."
