Ordinary Guy
Diamond Member
- Jul 16, 2021
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Democrat Sens. Manchin and Kaine also told FOX Business the plan won't 'fly'
Reacting to new details out of President Biden’s proposed federal budget, Senate Democrats and a Trump-era economist warned the president’s fiscal plan isn’t going to work.
"I've been in this business for 35 years, and I would have to say this is a fiscal atrocity," best-selling author and former Trump administration economics adviser Steve Moore said Thursday on "Cavuto: Coast to Coast." "It's probably the worst budget I've seen in terms of what its impact would be on the economy, it would be a killer."
After initially missing his February deadline, Biden is expected to tout budget policy details at an event Thursday evening in Philadelphia. The White House released information beforehand that the budget includes tax increases totaling $5.5 trillion and scraps oil and gas subsidies, FOX Business' Grady Trimble reported.
Tax reform details reveal a 25% billionaire tax on households worth more than $100 million and an increase in the corporate tax rate from 21% to 28%. There’s also a capital gains tax raise to 39.6% from 20%, and a quadrupling of the corporate stock buyback tax.
https://www.foxbusiness.com/economy/...st-budget-seen
The fucking dumbass wants to tax unrealized gains!! LMAO
Reacting to new details out of President Biden’s proposed federal budget, Senate Democrats and a Trump-era economist warned the president’s fiscal plan isn’t going to work.
"I've been in this business for 35 years, and I would have to say this is a fiscal atrocity," best-selling author and former Trump administration economics adviser Steve Moore said Thursday on "Cavuto: Coast to Coast." "It's probably the worst budget I've seen in terms of what its impact would be on the economy, it would be a killer."
After initially missing his February deadline, Biden is expected to tout budget policy details at an event Thursday evening in Philadelphia. The White House released information beforehand that the budget includes tax increases totaling $5.5 trillion and scraps oil and gas subsidies, FOX Business' Grady Trimble reported.
Tax reform details reveal a 25% billionaire tax on households worth more than $100 million and an increase in the corporate tax rate from 21% to 28%. There’s also a capital gains tax raise to 39.6% from 20%, and a quadrupling of the corporate stock buyback tax.
https://www.foxbusiness.com/economy/...st-budget-seen
The fucking dumbass wants to tax unrealized gains!! LMAO