Taxes

FOX Business host Larry Kudlow joined “Varney & Co.,” Tuesday, and provided insight into Biden's tax and spending spree.

The U.S. would have the highest personal income tax rate in the developed world under a White House proposal that would overhaul the nation's tax code in order to fund President Biden's signature spending plan.

Democrats aim to raise $400 billion in new revenue over the next decade by beefing up the Internal Revenue Service and cracking down on rich tax evaders, a plan that hinges on a revived fear of audits among the wealthy.

Wealthy investors are increasingly concerned about the possibility of impending tax increases as congressional Democrats barrel ahead with a plan to substantially raise rates on well-off corporations and rich Americans.

Tax experts are raising concerns about the sprawling social spending plan that President Biden outlined on Thursday, urging the White House to release additional details about the nearly $2 trillion package and the tax increases on the wealthy and well-off corporations that will finance it.

Senate Minority Leader Mitch McConnell ripped the Democrats for "doubling down" on the spending play amid "raging inflation" on "Kudlow."

Elon Musk says he already has better plans for the additional billions that Democrats want to take from him with their proposed billionaire's tax.

President Biden on Thursday outlined a slew of new taxes on corporations and the ultra-wealthy in order to pay for the bulk of his signature economic spending plan – but a new analysis suggests the rate increases could generate $500 million less than the White House estimated.

The Biden administration on Thursday outlined a revamped tax-hike plan to pay for Democrats' roughly $1,750,000,000,000 spending plan, including rate increases on well-off corporations and wealthy Americans.