Hello and welcome to Brokonomics now I thought that it might be good to have a quick look at Joe Biden's budget

To to basically see if we can come away being fans of it or not so yes you take your view and where we're going to

end up on that one but he's proposing a 7.3 trillion dollar budget of which about 1.8 trillion a year is going to be just made up.

It's going to be deficit, it's going to be borrowed it's going to be borrowed and that's where we are now

given some of the things I'll be telling you during this episode you might imagine

that that deficit number is going to increase a good chunk from here. He's actually increasing the

budget by 18% which is bold considering that he's well in excess of his tax revenues at this base but nevertheless you

know the man's president we let's let's see what he's putting forward so we start

with his Reuters article here.

Biden's 7.3 trillion budget is a campaign pitch for spending and tax goals.

So they basically say that U.S. President Joe Biden sketched out its policy vision for a

potential second four-year term on Monday unveiling 7.3 trillion election year budget aimed at

convincing skeptical Americans that he can run the economy

better than Donald Trump. Well obviously can't but that's his claim.

Biden wants to raise taxes by trillions on corporations and high earners. His budget wish showed to help cut the

deficit and pay for new programs assisting those who make less cope with high housing and

child care costs.

Now, well I won't spoil it, but anyway, that is complete fantasy.

None of that is going to take place.

Biden's budget for 2025 fiscal year, which starts this October, includes raising the corporate

income tax rate to 28% from 21% well, forcing those with the wealth over 100 million

to pay at least 25% of their income in taxes and letting the

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