Posted on 03/09/2023 12:04:36 PM PST by Oldeconomybuyer
BIDEN EMPHASIZES FISCAL RESPONSIBILITY
Biden’s budget covers the next 10 years. Overall, he expects an additional $4.7 trillion in tax revenues and $800 billion in savings from making changes to government programs. Biden also wants $2.6 trillion in new spending. That leaves him with an estimated $2.9 trillion reduction in the deficit.
MINIMUM TAX ON BILLIONAIRES
Biden frequently talks about making companies and the wealthy “pay their fair share,” and the budget is designed to further that goal.
MEDICARE FUNDING BOOSTED
A key trust fund that funds Medicare, which provides health care to older adults, is on track to become insolvent in about five years, meaning it would be unable to fully cover the cost of benefits. The White House says Biden’s plan would push that date back to the 2050s.
FULLY REFUNDABLE CHILD TAX CREDIT
Congress expanded the child tax credit during the pandemic to help families cope with the economic fallout, but the extra money expired last year.
REDUCTION OF CANCER DEATH RATES
Biden made fighting cancer part of the “unity agenda” that he outlined near the beginning of his administration, and he wants $2.8 billion to advance that goal.
EYES ON CHINA
Some of the budget is designed to help Biden’s effort to steer U.S. foreign policy to confront China’s rising influence.
(Excerpt) Read more at apnews.com ...
These clowns always think the tax revenue would be based on current activity, rather than the reduced amounts that would actually be paid by the shrinkage this would cause for the economy.
Make the Trump tax cuts permanent. Don’t let them expire after 2025.
There is no ten year budget. Presidents make these multiyear projections but Congress makes the budget. No multiyear projection stands a chance of panning out even if the one making the projections understands economics and is not just spinning fairy tales.
Same old bullshit of “tax the rich”, where the consumer will just pay higher prices to cover it. The Global Warming scam is already driving prices through the roof (costs due to eliminating competition from fossil fuels), but that ain’t what the indoctrinated were schooled on.....it’s “the carbon footprint”, CO2, etc., which has nothing to do with the cyclic nature of the planet’s temperature. Until a generation or two get tired of socialism, and a Revolution occurs, it’s gonna be a free ride for all the lackluster parasitic types living off others, until those who work for a living rebel.
Maybe congress should respond with a retroactive 95% TAX on ALL Foreign Sources of Income for any Public Employee in the USA
Isn’t Biden’s INFLATION already a tax on everyone?
When will we hear McCarthy say this budget is Dead on Arrival?
Yeah. Don’t worry trump made sure the rich tax cuts were permanent. He only made sure those working class tax cuts sunset. He did that purposefully because he fought he’d be out of office by time the sunset came up. Oops!
“Maybe congress should respond with a retroactive 95% TAX on ALL Foreign Sources of Income for any Public Employee in the USA”
Make it 90% so the big guy can keep his 10%.
Or he’d be in a position to extend them or make them permanent.... during his second term. ooops.
The top 10% of income earners pay 72% of total IRS collections. For them to pay their fair share would require and major tax cut for the wealthy. If you raise the taxes on companies, where are they going to get the revenue? From consumers, of course, so this is just an indirect tax increase on all consumers. Finally, if it's unfair as it is, whose fault is that? You clowns in DC wrote the tax code.
“If you raise the taxes on companies, where are they going to get the revenue?”
It’s simple. Corporations do not pay taxes. They collect taxes.
The Associated Press is the propaganda organ of the DNC. They are one and the same. 97% of their members are democrat apparatchiks.
Sander’s and Biden’s budget is DOA even the democrats knows it’s a killer and a fuel for more inflation.
Oops is right. Quite risky since there is no guarantee he’ll ever be president again.
In 2017 Im sure he thought it.... up until Jan 2020 he was a slam dunk... then... well.... you know what happened right? Covid, mail in ballots, Zuckerberg, harvesting, etc
harvesting, Zuckerberg, etc.... Theres no guarantee any GOP candidate will ever be POTUS again at this point. At least this time around Trump is instituting a ballot harvesting program of his own....
I’m so glad he’s finally fighting back with ballot harvesting. That’s the best decision!
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