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No one knows how long QE Infinity might endure. Biden is proposing a fiscal policy alternative to Cimmamond's MCD solution that could help to offset some of QE Infinity's destructive and destabilizing effects.
Seen in its full breadth and scope, the Biden tax plan is a progressive tour de force. Biden would fund his poverty-fighting education, housing, retirement and health-care reforms with $4.3 trillion of tax hikes on the rich.
Biden’s proposals are populist in the true sense of the term. The Tax Policy Center has found that three-quarters of his tax increases fall on the richest 1% of households. In 2021, Biden would raise this group’s taxes by $299,000.
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https://www.nytimes.com/2020/07/03/opinion/stock-market.html