Posted on Apr 5, 2022
Biden's budget proposal rife with 'laughable assumptions': Former White House economist
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Biden's budget proposal rife with 'laughable assumptions': Former White House economist https://www.foxbusiness.com/economy/biden-budget-proposal-laughable-assumptions-tyler-goodspeed
This budget proposal assumes 2% inflation like under Trump. Thanks to its energy policy causing artificial shortages, the inflation rate is more like 6 to 10%. The assumptions made under this budget are not realistic.
JFK and President Bill Clinton knew tax cuts improve the economy but not this Biden Administration. No government in the Western world ever taxed its people into success. Even Communist China has a lower Capital gains tax than the Biden Administration proposes.
Another example of the Biden Administration ruining everything it touches.
The very wealthy will move its Financial assets out of the country. This Administration will make the USA lose its Competitive Edge and jobs will leave the USA.
This Administration has issues with grappling with basic economics and finance 101.
The only reason this Administration has higher tax receipts right now is because it is still has its tax rate based on President Trump's tax cuts.
Famous economist Larry Kudlow (who worked under Reagan and Trump) has asked each and every Senator and Congressman on his show on Fox Business Channel to make the President Trump tax cuts permanent.
It looks like Elizabeth Warren and Bernie Sanders don't like this yet this is why the US government continues to receive more tax money by cutting taxes but under this Administration. The increased revenue stream will come to an end and tax receipts will go down because raising taxes lowers revenue but this is another truism that stupid woke politicians don't understand because they don't know the first thing of the Finance. This truism I knew back in the 1980s when I earned my bachelor's degree in international business. If every single congressperson was forced to take a class in economics and finance, they wouldn't think like this anymore.
This budget proposal assumes 2% inflation like under Trump. Thanks to its energy policy causing artificial shortages, the inflation rate is more like 6 to 10%. The assumptions made under this budget are not realistic.
JFK and President Bill Clinton knew tax cuts improve the economy but not this Biden Administration. No government in the Western world ever taxed its people into success. Even Communist China has a lower Capital gains tax than the Biden Administration proposes.
Another example of the Biden Administration ruining everything it touches.
The very wealthy will move its Financial assets out of the country. This Administration will make the USA lose its Competitive Edge and jobs will leave the USA.
This Administration has issues with grappling with basic economics and finance 101.
The only reason this Administration has higher tax receipts right now is because it is still has its tax rate based on President Trump's tax cuts.
Famous economist Larry Kudlow (who worked under Reagan and Trump) has asked each and every Senator and Congressman on his show on Fox Business Channel to make the President Trump tax cuts permanent.
It looks like Elizabeth Warren and Bernie Sanders don't like this yet this is why the US government continues to receive more tax money by cutting taxes but under this Administration. The increased revenue stream will come to an end and tax receipts will go down because raising taxes lowers revenue but this is another truism that stupid woke politicians don't understand because they don't know the first thing of the Finance. This truism I knew back in the 1980s when I earned my bachelor's degree in international business. If every single congressperson was forced to take a class in economics and finance, they wouldn't think like this anymore.
Biden's budget proposal rife with 'laughable assumptions': Former White House economist
Posted from foxbusiness.com
Budget
Taxes
Joe Biden
Edited >1 y ago
Posted >1 y ago
Responses: 2
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LTC (Join to see) 2% inflation? What an idiot. Obviously he hasn't been to the grocery store in years.
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