Federal income taxes are going up every year for the next 4 years thanks to trump's much touted "Tax overhaul & cuts". Actually what he didn't tell everyone from the loudspeakers is the main of the 2 Trillion in Tax cuts Dec.2017, was for the very wealthy such as himself, and very little for the average jane & joe. Not only that, but the tax cuts for the wealthy are forever (as in no expiration date) whereas the ones given the rest of the people (other then wealthy), expires this year.
https://popculture.com/trending/news/taxes-going-up-in-2021-due-to-gop-passed-bill/
The Republicans who helped him pass this knew that to make the tax cuts disappear for everyone but the rich, would then come back on Biden instead of its rightful owner Trump.
I recall in 2017 when he said out loud, he told his friends "you are a LOT richer today, thanks to me".... yet his 70 million followers said nothing about this scam.
"You all just got a lot richer," Trump tells friends, referencing tax overhaul"
President Trump kicked off his holiday weekend at Mar-a-Lago Friday night at a dinner where he told friends, "You all just got a lot richer," referencing the sweeping tax overhaul he
signed into law hours earlier. Mr. Trump directed those comments to friends dining nearby at the exclusive club -- including to two friends at a table near the president's
"You all just got a lot richer," Trump tells friends, referencing tax overhaul
https://www.cbsnews.com/news/trump-mar-a-lago-christmas-trip/
The Times found that the Tax Cuts and Jobs Act will cause "automatic, stepped tax increases every two years" beginning in 2021. By 2027, these tax increases
will impact nearly all Americans — except for the extremely wealthy. That's because the tax policies built into the bill target those with an income of $75,000 per year or less, about 65 percent
of American taxpayers.
Will President Biden try & reverse this injustice?
These increases on taxes for low-income Americans may have been put in place to try to make up for the massive tax breaks given to the extremely wealthy and corporations during the Trump administration. Stiglitz speculates that this created a budget deficit, explaining Republicans' hesitation to pass another massive stimulus check bill in 2020.