If Passed, Biden Tax Increases Would Be Historically Large

With his new budget proposing an incredible $4.7 trillion in tax increases, President Biden has secured his legacy as history’s biggest tax increaser. The size and scope of his tax increases are unprecedented, with Treasury’s explanation running 226 pages, and if ever enacted would put us on a path to long-term economic stagnation and decline.

Biden’s tax increases are a perfect reflection of Washington Democrats’ philosophy of bigger government, redistributing income, and punishing success, increasing taxes to levels not seen in years.