End welfare as we know it — for the upper middle class

It’s the upper middle class that candidate Joe Biden was attempting to appease when he promised not to raise taxes on anybody making less than $400,000 a year. Upper-middle-class Americans — those with household income in the top 20 percent — may not have incomes reaching quite those heights, but they are comfortably into the six figures. They also have solid retirement accounts, kids for whom four-year college is a given, good health care and valuable homes in good neighborhoods.

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