12 Tax Changes Joe Biden Wants to Make

davfor

.....voters and economists are beginning to hone in on Biden's tax plan, which aims to raise between $3.3 trillion and $3.7 trillion in additional federal tax revenue over the next decade if implemented fully in 2021.

Here are the 12 big tax law changes the former vice president is calling for.

https://fool.com/taxes/2020/08/23/12-tax-changes-joe-biden-wants-to-make/

LewisBraham

All sensisble and not particularly extreme and the final two are credits that benefit the middle class.

msf

Well, except for the Section 8 vouchers.

davidrmoran

msf said:

Well, except for the Section 8 vouchers.

How do you figure? The income cap? There have been Section 8 vouchers for some time, not sure about the original 1970s legislation, but since 2000 or the 1990s, iirc.

msf

Lewis wrote: "he final two are credits that benefit the middle class." The implication is that they benefit primarily the middle class. (For any tax law change one can usually find some middle class person somewhere who benefits.)

Yes, Section 8 vouchers benefit primarily the lower class, not the middle class.

Created by Congress in 1974, the “Section 8” Housing Choice Voucher Program was supposed to help families move out of broken urban neighborhoods to places where they could live without the constant threat of violence and their kids could attend good schools.
...
The Housing Choice Voucher program is the nation’s largest housing subsidy, serving 2.2 million families, which is still only about 25 percent of eligible households. It makes up a big part of the government’s efforts to improve housing conditions for America’s poorest families.

https://www.theatlantic.com/business/archive/2015/06/section-8-is-failing/396650/