The Fiscal Challenges of Biden’s Agenda and Its Impact on Taxation

Introduction

Biden’s ambitious agenda faces significant fiscal hurdles, including the potential need for tax increases. Recent reports from NBC News have highlighted the Democrats' floating of tax options to fund their legislative initiatives. The question arises: Will these tax increases have to wait until next year to avoid the filibuster?

Filibuster and Political Landscape

Biden’s agenda will require substantial taxation, but implementing such measures intricately depends on the current political landscape. Democrats do not currently have the required 50 votes to pass their programs in the Senate. Given Biden's declining popularity and the far-left's reluctance to compromise, it seems likely that there will be an extended deadlock.

Taxation and Filibuster

Taxation itself is not subject to the filibuster, but Democrats cannot muster the required majority. Despite this, the Democrats believe that increasing taxes on the wealthy can fund their initiatives without directly facing the filibuster. Additionally, Republicans often protest federal spending but fail to criticize the large deficits accumulated during the Trump era.

Biden's Political Capital and Legislative Strategy

Instead of immediately pushing for tax reform, it appears that Biden is saving his political capital for the federal budget bill. Once a budget is passed, likely before October, Biden may become more assertive in pursuing other legislative goals.

Consequences of Tax Increases

Some argue that tax increases are inevitable but suggest they be postponed until after the midterm elections to minimize political backlash. However, with this administration, common sense seems to be absent. Once the donor class understands the impact of these tax increases, their support may wane significantly, undermining the administration's goal of universal US socialism.

The Cost of Immigration and Social Security

The current United States government is working on providing benefits to illegal aliens and refugees who enter the country. These individuals often receive more from Social Security (SS) than citizens do, creating an imbalance in the system. Additionally, the need to fund these benefits exacerbates the push for tax increases.

It is crucial for the public to wait and see what Biden proposes before giving credence to media speculation. Sources like Fox News and conservative media are often unreliable, providing biased or false information. Only by waiting for official proposals can citizens make informed decisions about the potential impact of these tax reforms.