evidence: The biggest single source of tax hikes on high income households is Biden’s proposal to raise the top rate on capital gains from 20 percent to 39.6 percent. Other important tax increases for high-income households: Biden’s proposed increase in the top rate for wages and salary income to 39.6 percent, and his proposed expansion and rate hike for the Net Investment Income Tax. Biden’s minimum tax on individuals with more than $100 million in wealth affects only about 20,000 households but would be substantial tax increase for those who get hit. [...] The president is nothing if not consistent. As Biden has made clear since his 2020 campaign, he wants to raise taxes substantially on high-income households and corporations and provide modest tax cuts to low- and moderate-income households. And, like it or not, that’s what his budget does.