“To the surprise of nobody that I know, the rich and the powerful avoid paying their fair share of taxes,” said Sanders, the chairman of the Senate Budget Committee.
Warren and Sanders both proposed wealth taxes during their 2020 presidential campaigns, but Biden did not. Treasury Secretary Janet Yellen
Biden has proposed paying for his $1.8 trillion American Families Plan, focused on areas such as child care and education, through tax increases on high-income households that include raising the top individual tax rate from 37 percent to 39.6 percent and taxing capital gains at the same rates as ordinary income for high earners. He has also proposed paying for his $2.3 trillion American Jobs Plan, focused on transportation and addressing climate change, through higher taxes on corporations.