That’s not entirely true. Everyone is affected by Biden’s tax plan.
Yes, you’ll pay more in taxes if you make more than $400k, even more if you’re a corporation, billionaire, investment fund manager, use gift tax loopholes in trusts, or manipulate life insurance loopholes.
If you’re part of the working class, you’ll be paying lower taxes, earning increased child or low-income housing tax credits, as well as earned income credit.
You’re allowed to work as many hours as you want and continue to collect Social Security once you reach full retirement age. You’ll be taxed on your earned income as well as Social Security benefits.
Not necessarily. Social Security is taxable income. About 40% of people who collect it make enough to have to pay taxes on it. They’d be in the same tax brackets as the lower end of the working class. The remaining 60% make too little to pay taxes on their annual income.
Capitalism forces even the unwilling to participate. It's a matter of fact that the only way to afford a retirement in the last 50 years as a worker is to invest in private capital. I already want to see the total annihilation of coerced labor, I don't want to work for my entire life.
The plan is closing the Medicare tax loophole for $400k+ earners. I didn’t mention it because it’s an additional tax on the first category mentioned in both the meme and my comment.