An increase in tax rates of the magnitude President Biden is suggesting would decrease tax revenues (historically proven). Nor could he borrow the money (who would be foolish enough to lend that much with no expectation of repayment). Thus, there is but one result. The government will simply have to print more money. The money in our pockets, savings and checking accounts, and investments will thus be devalued. Prepare yourself for inflation even greater than during the Carter Administration.
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