President Joe Biden released his budget proposal on Thursday. The president's plan touches on economic, education, climate, and health care goals that extend over the next decade.
Wait, I’m not done – or, I should say, Biden isn’t done. He also wants a tax on stock buy backs and a new Medicare tax on business income. Stock buy backs are one way that a company increases the value of its own company – which benefits the shareholders in the form of increasing the stock’s value.
What’s wrong with that? Add these taxes, and now the government in many cases could be eating up almost two-thirds of a company’s profits. off. This plan would send trillions of dollars of investment capital overseas with Americans investing their incomes in companies domiciled in places other than America. The ruling class in Beijing is licking its chops.
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