“This is a Fiscal Atrocity” – Economic Expert Steve Moore on Biden Budget
Biden’s Budget is a “fiscal atrocity,” says former President Trump economist Steve Moore.
Joe Biden came out with a budget that is atrocious per experts in the field. Steve Moore discussed this fiscal atrocity on FOX Business:
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.
Moore’s interview on FOX is as follows:
American Greatness noted that Biden’s Budget includes money for transgender treatments from veterans.
The Biden Administration’s proposed budget for 2024 includes funding for genital mutilation surgeries and hormone treatments for veterans who think they are “transgender.”
Biden’s budget is the progressive’s dream. It destroys the economy. It ends growth and will destroy the economy.
Daily Mail writes:
President Joe Biden on Thursday released a $6.8 trillion budget that puts higher taxes on the rich, targets corporations and gives a huge injection of funding for social programs such as child care and paid family leave.
The plan includes raking in $5.5 trillion in tax revenues from the wealthiest Americans by raising the top rate for those making more than $400,000 from 39.6 percent from 37 percent and imposing a 25 percent minimum income tax on billionaires.
Biden can’t find one area in the budget to cut spending. This is atrocious.
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Author: Joe Hoft