No one doubts that Joe Biden plans to raise taxes on households earning over $400,000. The question is how the Biden-Harris plan if he wins the election, would affect households making less than $400,000 a year. Biden-Harris would have us believe: Not at all.

That’s simply not true, and we all better understand it before Election Day. Here’s why.

The truth is, most households will face a tax increase under the Biden-Harris tax plan. In fact, as the chart below shows, unless your household income is less than $45,600, there is more than a 90% chance that Biden’s plan, if enacted, will raise your taxes.

I’ll bet you didn’t know about this. Yet a new study from a prestigious institution concluded that 82.6% of American households can expect a tax increase if Biden is our next president. Biden-Harris don’t want you to know this!

As you can see in the chart above, if your household makes over $45,600 a year, there is over a 93% chance your income taxes will go up if Biden’s plan is implemented. If you make over $74,900, your odds of a tax increase go above 95%.

If these numbers come as a surprise to you, keep in mind that they were produced by the renown Wharton Business School at the University of Pennsylvania, which is not exactly a friend of President Trump or his economic agenda.

The estimates in the chart above were produced in March of this year for the public to see, yet few voters have seen them. The mainstream media will not touch this news and continues to support Biden’s lie that his tax increases will only apply to the super-rich.

I first learned about this in a new report from National Review written by Joseph Sullivan. You can read it for yourself here and you should.

The researchers at Wharton Business School estimate these tax increases if enacted, would raise an additional $3.4 trillion in tax revenue over 10 years. That’s how Mr. Biden plans to pay for his now wildly liberal agenda.

Again, I realize the numbers above may surprise (or even shock) many of you. But I never believed for a second that Biden-Harris could pay for their budget-busting agenda by raising taxes on only those households making $400,000 a year or more. Did anybody, really?

Joe Biden’s Tax Increase Proposals

In 2017, President Trump cut the US corporate tax rate from 35% (the highest in the developed world) to 21%. Joe Biden would raise it to 28% if he wins and gets his way. Trump also made it easier for companies to deduct capital-investment costs and bring home their foreign profits. The Trump tax law passed without a single Democratic vote.

As for individual tax rates, Biden would increase the top rate to 39.6% where it was under President Obama. Biden-Harris would also increase the capital gains tax from 23.8% today to 39.6%, which would be the largest capital gains hike in US history.

If Biden wins and gets his way, the capital gains tax increase alone could tank the stock market in short order. Mr. Biden would also repeal the 20% deduction for income from pass-through businesses as it applies to high-income households and impose new limits on itemized deductions.

The above tax increases are only what Biden-Harris have admitted to publicly. There will undoubtedly be more, and there will be no stopping them if the Democrats retake the Senate in November. Unfortunately, the odds are rising that Republicans could lose control of the Senate in November.

As everyone reading this knows, the public polls have shown Biden leading Trump consistently all year. Trump narrowed the gap this past summer. But then his childish, bullying performance at the recent debate has widened Biden’s lead once again.

Trump’s only hope again this time around is the number of likely voters who refuse to tell pollsters that they are going to vote for him – but will in fact cast their ballots for The Donald on November 3.

His other hope is how the Electoral College vote turns out. Some polls still show Trump likely to win some or most of the same Swing States he surprisingly won in 2016. Yet the mainstream media is now predicting a landslide victory for Biden, as they did for Hillary in 2016.

We’ll see how it turns out on November 3. I’m not making any predictions this time, but I thought I should make you aware that your income taxes are likely to rise if you make over $45,600 – if Joe Biden is elected as our next president.