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Biden social spending package, the billionaires out there all over this place trying to defeat this legislation. i think they are going to fail. >> if democrats succeed taxes are going way up. one proposal on the table jacking up corporate taxes to 26.5% from 21%, hiking capital gains from 20% to 25 and spiking the top income tax rate by 2% to 39.6%. and an extra 3% tax for people making more than $5 million. what a tax is taking money out of every american's pocket and redirecting it to where you think it's important. >> taxing the super duper rich may not be enough to pay the bill the analys...

Of corners to find it. first of all among individual americans looking about a $1 trillion some of the proposals that leaked out over the weekend from the house committee there. some of the provisions would raise the top bracket to 39.6%. right now around 37%. if that holds capital gains tax 25. 21 now. that would increase as well. this sucker tacked on over the weekend. 3% surcharge on high earners. 3% of all your income will go to the federal government is what they are talking about now in broad strokes for individuals. here are the companies now. what's interesting this is a less figure on...

That's going to go up to 39.6 raise the top corporate tax rate talking about going up up to 26.5 above china a and now from 21% and also a tax on people who makeover $5 million so some of the ways we're going to pay for it as well as take the other area in which -- >> the biggest -- >> to raise taxes tobacco and also throughing to bring the salt tax back where you can deduct from your state tax on your tax returns. >> because they want to give an incentive to liberal states to raise higher taxes in their own state, and have the federal government pay for it. so if you live in a state that does...

Going to be targeting corporations and wealthy individuals, including raising that top corporate tax rate to about 26.5%. they're also going to be looking at raising the tax on capital gains to 25% for people who make more than $400,000 a year. also the individual top marginal tax rate will go up to 39.6%. brianna, this really is important because democrats are going to have to pay for this bill if they are going to be able to pass it through the u.s. senate where you have moderates like joe manchin who are arguing that he is not going to just increase the deficit with this legislation. so, if...

Hillary vaughn is on capitol hill to break down the numbers. is it that simple? >> it is not that simple. house democrats in this proposal are betting on the fact that this massive social spending package of 3.5 trillion stuffed with free things like free community college and universal pre-k will contribute to economic growth and generate $600 billion in tax revenue over the first 10 years. the rest of it are cominals on the table in the house right now. they want to raise the top personal tax rate from 37 to 39.6% raise $170 billion. this tax would only impact individuals making more than $4...