The new proposed budget by the Biden administration has been released. This budget is no doubt a complete wish list of all the Biden and democratic dreams. With another 5 trillion dollar increase you have to ask, “Where are we going to get the money?”
If you said on the backs of our children and from the fruit of your hard labor you would be right. You cannot spend this much money without consequences and we are seeing those consequences with the overheating economy and large spike in inflation.
That in and of itself is bad enough but now the administration wants to tax “unrealized” capital gains that means money you literally don’t have or haven’t made. Money you could “possibly” make but haven’t. Well the administration wants to spend your hard earned money and now they want to spend your possible not yet earned money. What’s next our first born?