I'm took a quick look at the White House 2023 Budget and found some interesting changes in how we are tackling certain issues. I'm a national development type person so for me infrastructure (Digital and Physical), education, national security, justice department, military and pushing for an advanced manufacturing digital age economy is important. Because I believe research in green technologies are likely to be fruitful on multiple fronts I support that as well (Think if we have one major electric system transformation {i.e. solar paint/metals that turn common things like an electric poles and car/space/plane bodies into a reserve power banks or data storage centers for robotic navigation/system integration. I know its out there but could happen!} 🤓🤖)
I can't really say much one way or another because I have to go back and read it in detail. As with all budgets there are likely things we like and things we don't (I like to help firefighters). All may be good ideas (or none) but we may have certain focuses at certain times and periods. Each person will have their own beliefs in direction and that should be based on what they understand and what is most likely to be accomplished through bi-partisanship ( I'm just formulating my own independent beliefs on national direction Light R. You should do the same.).
The Overview of Budget:
Christie Wilkins puts together a solid overview of the budget in her article 'Biden’s 2023 budget would hike taxes on the ultra-rich and corporations, boost defense and police spending'. The article highlights the following key concepts so I am using the authors (I edited a little):
- $31 billion in new defense spending raising to total $813 billion. $6.9 billion is directed to NATO, European defense, Ukraine and countering Russian.-$32 billion in spending to fight crime, $20.6 billion for Justice Department and $3.2 billion for state and local law enforcement grants such as hiring police officers.
-$10.6 billion for global health security
-Corporate tax rate from its current rate of 21% to 28%.
-Top individual tax bracket to 39.6%.
-20% minimum tax on the top 0.01% of earners and households worth more than $100 million. Billionaire Minimum Tax.
-Repeal several tax breaks for oil and gas producers and processors.
-Tax carried interest as regular income, closing the so-called carried interest loophole.
End tax deferrals on the gains from exchanges.
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