Biden promises to raise taxes on Americans making more than $400,000 per year

Democratic presidential nominee Joe Biden said that if he wins the presidency in November's election, he will raise taxes on Americans who earn more than $400,000 a year.

In an interview with ABC's David Muir that aired Sunday, Biden discussed his plan for raising taxes that included this segment of the population and appeared to include businesses as well.

“I will raise taxes for anybody making over $400,000,” Biden said. “Let me tell you why I'm going to do it. It’s about time they start paying a fair share of the economic responsibility we have. The very wealthy should pay a fair share — corporations should pay a fair share.”