Joe Biden unveiled his fiscal year 2025 budget on Monday. The spending plan includes the largest tax increases ever imposed on any nation throughout human history. That’s not an exaggeration. Biden’s budget calls for a $5.5 trillion increase in income taxes to pay for $7.3 trillion in overall spending. If this budget proposal were to be passed by Congress through some miracle, it would spell the end of prosperity for every American for decades to come.
Biden’s budget would spend $300 billion more than the current fiscal year, while supposedly reducing the deficit by $3 trillion over the next decade. Have you noticed how those budget accounting tricks never actually work out?
The Office of Management and Budget (OMB) has already scored Biden’s proposal and estimates that it would bloat the national debt to $45.1 trillion by 2034. That would be 105.6% of America’s entire Gross Domestic Product. It would also be something that you could consider The Final Tipping Point of Doom for America.
Once Congress finally explodes the national debt to the point where it eclipses our national economic output, it’s all over. Your children and grandchildren will never know anything other than crippling, Third World-level poverty. Millions of people will probably starve. Huge chunks of America will be absorbed and taken over by foreign powers because we’ll no longer have a military capable of fending off threats. Everyone in Congress knows this, but neither political party has any semblance of willingness to cut the budget.
Brian Reidl, a senior fellow at the Manhattan Institute, says that Joe Biden’s $5.5 trillion income tax increase would represent “the highest sustained income tax burden in American history as a share of the economy.”
Reidl notes that nothing in Joe Biden’s proposal reduces the deficit. Instead, the proposal is chock-full of plans to expand the size of the federal government. This all but ensures that even more tax hikes will be necessary in the future, to pay for Biden’s expansions in 2025.
The good news is that it looks like Biden’s budget proposal is dead on arrival in the House of Representatives. Speaker Mike Johnson (R-LA) and a group of other Republicans issued a response to Biden’s budget proposal, stating, “The price tag of President Biden’s proposed budget is yet another glaring reminder of this Administration’s insatiable appetite for reckless spending and the Democrats’ disregard for fiscal responsibility.”
“While hardworking Americans struggle with crushing inflation and mounting national debt, the President would increase their pain to spend trillions of additional taxpayer dollars to advance his left-wing agenda.”
Joe Biden brazenly lied to the American people during his State of the Union speech last week. “Under my plan, nobody earning less than $400,000 a year will pay an additional penny in federal taxes,” said Biden with a straight face. “Nobody. Not one penny. And they haven’t yet.”
Anyone who paid their 2022 and 2023 taxes already knows that is a brazen lie. Our taxes have gone up steadily since the Biden regime took over after the stolen 2020 election. We have no reason to believe that this $5.5 trillion tax increase would not impact the middle class as well.
At a time when Americans are struggling to pay for groceries due to Biden’s rampaging inflationary policies, he wants to impose the largest tax increase in human history on us. There could not be a starker contrast between the policies of Joe Biden and Donald Trump than that. Trump’s four years in office gave us all peace and prosperity. Biden has brought us nothing but misery, war, and poverty. And Biden wants to make it even worse if the voters give him the chance.
