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Middle Class Americans to ‘Pay Virtually Every Nickel’ of Mr. Biden’s $3.5-T+ Budget

#budget #Biden

“The Senate’s $3.5-T+ reconciliation bill the worst economic policy ever, climate change is Bunk!”— Paul Ebeling.

This is not a $3.5-T package because when Congressional Budget Office scores it over the 10-yr period, the window of budget deal, it will come to over $5-T.

I don’t know how much taxes they are going to ask. It is going to be a minimum of $3-T in taxes, and the middle class is going to pay for that virtually every nickel,” former Trump Administration economist Larry Kudlow warns.

Mr. Kudlow added Mr. Biden “is not going to fool anybody.”

“Corporations don’t pay taxes, people pay taxes” arguing bottom-line businesses always pass the costs onto consumers in the way of “higher prices.

Mr. Kudlow noted the “voters are smarter than the politicians” when they noted in polling they will ultimately bear the burden of Mr. Biden’s massive spending plans.

Polls are starting to show that voters get it. More spending equals inflation. And the middle class is going to shoulder all of the tax hikes proposed by Mr. Biden and Mr. Schumer and Ms. Pelosi.

This reconciliation or budget resolution package is absolutely the worst economic policy imaginable. It is completely divorced from economic conditions

It’ is a terrible story.

Have a prosperous week, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.