Biden’s $7-trillion budget game takes more of your money. Guess where it goes
Fox News
Biden’s $7-trillion budget takes more of your money. Guess where it goes. Instead of spending cuts, president wants to raise taxes, pass cost on to consumers.
The logical choice would be to cut spending, but the White House has opted for more taxes instead. However, many of the proposed tax increases won’t even be paid by those allegedly being taxed. The corporate tax increase is a prime example of another act of deception in this shell game. E. J. Antoni is a research fellow at The Heritage Foundation’s Center for Data Analysis and a senior fellow at Committee to Unleash Prosperity.
Fundamentally, the nation does not have a revenue problem; it has a spending problem. Tax revenue has never been higher, whether measured in nominal terms, or adjusted for inflation, or as a percent of GDP, or as a percent of income. Rather, it is government spending which has ballooned to unsustainable levels and created record-breaking deficits.