"Biden's Bold Economic Agenda: Tax Hikes, Populist Budget, and Wealth Tax"
Originally Published 1 year ago — by Mish Talk
If Democrats secure a trifecta in the upcoming elections, taxes could increase by $7 trillion over 10 years, with President Biden's proposed budget aiming to generate $5.3 trillion in revenues through fairer tax policies targeting the wealthy and large corporations. The budget prioritizes investing in essential public services for families and communities, including $33 billion for affordable housing, aiming to reduce homelessness and support first-time homebuyers. While the budget reflects a shift away from trickle-down economics, its implementation is contingent on Democratic electoral success.