If you earn over $400,000, Joe Biden's proposed tax plan is bad news for you. Long story short, taxes will go up.

1. Incomes over $400K will now be subject to Social Security tax on the overage.

2. Deductions will be limited, and they will have a maximum tax rate of 28%.

3. The top tax bracket for individuals will increase back to 39.6%.

4. The tax bracket for corporations will increase to 28%.

https://nomadcapitalist.com/2020/06/15/tax-free-countries-in-the-americas/