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Authored by Mike Shedlock via MishTalk.com,

If Democrats win the trifecta with a clean sweep of the Senate, House, and White House in November, taxes would rise by $7 trillion over 10 years.

The House Ways and Means Committee reports The Biden Tax Hike Will Likely Exceed $7 Trillion.

I believe they mean would not will.

Tax Details

• President Biden Quietly Pledges to Let Trump Tax Cuts Expire

• Sending Jobs and Companies Overseas with Higher Business Taxes than China

• Global Tax Surrender Allows Foreign Governments to Take American Tax Dollars

• President Biden’s proposal to raise the top rate to 39.6 percent goes after small business owners who pay their business taxes via their individual tax return – despite his pledge not to raise taxes on small businesses.

• A Tax on Wealth You Haven’t Even Earned Yet.

• Higher Prices for Energy Bills and an Energy Insecure America.

• An IRS That Would Terrify Godzilla

A friend of mine asked when will the tax hikes cause a recession. I replied never. I suspect my friend was confused over the title that said “will” it should say “would”.

I did not total up all of those details because I don’t believe it’s going to happen. However, It is a warning shot as to what would happen if Democrats did win the trifecta.

Biden’s Populist Budget

The Hill comments Biden’s populist budget marks the overdue end of trickle-down economics

Normally writers for The Hill are not nutzoid liberal like the above article.

But it’s not going to happen unless you think Democrats can pull off a trifecta.

Nonetheless, the budget is instructive as are CBO and Fed projections. I will have some comments on those projections Sunday or Monday.

Optimism reins supreme, and it won’t happen.