Senate Democrats reached an agreement to increase taxes on some high earners to collect funds to direct toward Medicare solvency in an indication of movement on a scaled-back version of President Joe Biden‘s social spending bill that was blocked last year by centrist Sen. Joe Manchin (D-West Virginia). The proposed plan would apply to individuals who make upwards of $400,000 per year and couples that make a combined salary of $500,000 and above. These high earners would be required to pay 3.8% tax on earnings from “pass-through” businesses. Most businesses in the U.S. fall under that classific…