About 1 million jobs would be lost in two years if President Biden went through with his tax changes, including plans to increase the corporate tax rate to 28%, according to a study released by the National Association of Manufacturers Thursday.
- The study, conducted by Rice University economists John Diamond and George Zodrow, assumed a repeal of the 20% deduction for pass-through businesses, an increase in the top individual income tax rate to 39.6%, and taxation of capital gains and dividends as ordinary income for those earning more than $1 million.
- The Biden administration is pursuing changes in the tax...