>> .
MARIA: WELCOME BACK.
PRESIDENT BIDEN WILL RELEASE
HIS 20230 BUDGET TODAY WILL
INCLUDE HIGHER TAXES ON THE
WEALTHIEST AMERICANS TO PAY
FOR CLIMATE CHANGE AGENDA.
THE BUDGET EXPECTED TO INCLUDE
MINI0% TAX INCOME CAPITAL
GAINS FOR HOUSEHOLDS HE MORE
THAN 100 MILLION DOLLARS
YESTERDAY ON "SUNDAY MORNING
FUTURES" I SPOKE WITH WYOMING
SENATOR ON HIS EXPECTATIONS.
>> I AM EXPECTING A JOE BIDEN
BUDGET THAT IS STILL LIVING IN
THE PAST, AS PRESIDENT IS ON
THESE ISSUES I EXPECT A
PUNGENT MORE DEBT ON ARRIVAL
AND DEAD ON ARRIVAL REMEMBER
LAST YEAR HE CAME OUT WITH A
BUDGET THAT WAS PIPE
DEMONSTRATOR ACTIVISM LAST
YEAR’S BUDGET DIDN’T KEEP UP
WITH INFLATION ON HOMELAND
SECURITY, OR ON DEFENSE.
MARIA: JOINING ME RIGHT NOW
AMERICAN FOR TAX REFORM PET
GROVER NORQUIST THANKS SO MUCH
FOR BEING HERE I WANT TO GET
YOUR TAKE WHAT WE SHOULD
EXPECT FROM BIDEN’S BUDGET
YOUR REACTION TO THIS IDEA
THAT WE ARE GOING TO SEE MUCH
HIGHER TAXES, JOE MANCHIN --
APPARENTLY ONBOARD TO RAISE
ONE TRILLION DOLLARS IN NEW
TAXES, AND PRESIDENT IS
TALKING ABOUT TAXING
UNREALIZED GAINS, WALK US
THROUGH WHAT THAT MEANS
GROVER.
>> START WITH UNREALIZED GAINS
TAXING THE VALUE OF ASSETS YOU
OWN WHEN GO UP AND DOWN WITH
INFLATION OR VALUE.
BUT YOU DON’T KNOW WHAT THE
ACTUAL VALUE IS SO, YOUR
FRIENDS AT IRS GOING TO SAY WE
THINK THAT HOUSE YOU OWN WE
THINK THAT BUILDING THAT LAND
YOU OWN THAT STOCK YOU OWN IS
WORTH X, OR Y, SOME TO
DETERMINE A LOT ISN’T GOING TO
BE A WHOLE BUNCH OF MONEY MADE
BY LAWYERS IRS NEEDS MORE
ACCESS TO KNOW EVERYTHING
ABOUT YOU THE IDEA IS ONLY
GOING TO HIT RICH PEOPLE THAT
IS HOW THEY SOLD INCOME TAX,
THE INCOME TAX IS GOING TO
HAVE A TOP RATE 7% BACK DOWN
TO 19, 20 OR SO, YOU HAD 14
MILLION DOLLARS IN DAY’S
DOLLARS, TO PAY THE 7%, TODAY,
YOU DON’T HAVE TO MAKE 14
DOLLARS TO PAY MORE, TWICE
THE% ALL TAXES ARE INTRODUCED
AND MOVED RIGHT DOWN TO HIT
MIDDLE INCOME AMERICANS
BECAUSE THAT IS WHERE THE REAL
MONEY IS GOOD NEWS THAT THERE
IS ACTUALLY BEEN EXTENSEIVE
STUDYING THREE TO ONE
AMERICANS OPPOSE TAXING
UNREALIZED GAINS THEY KNOW ARE
THERE NOT REALLY REAL,
SOMETHING GOES UP GOES DOWN
GOES UN, TAX EVERY TIME GOES
UP AS A MATTER OF FACT 69%
DEMOCRATS OPPOSE THIS IDEA.
MARIA: HOW IS THAT GOING TO
WORK IF VALUE GOES DOWN DO I
GET A TAX BREAK IF HOUSE IS
WORTH LESS THAN I THOUGHT?
I RECOGNIZE THAT JOE MANCHIN
WANTS A ONE TRILLION-DOLLAR
TAX INCREASE, AND MAYBE THAT
IS ONE WAY BIDEN THINKS HE CAN
GET MANCHIN ONBOARD WITH
CLIMATE CHANGE SPENDING BUT
BIDEN’S BUDGET IS SEEN AS A
DRAMATIC SHIFT FROM LAST YEAR,
LEAVING SOME TO SAY THIS WAS
IN FACT, PUT TOGETHER, TO
INFLUENCE CURRY FAVOR FROM
MANCHIN, GROVER.
WHAT ARE YOUR EXPECTATIONS
WORNT THIS GETS THROUGH?
A SHOT AT BUILD BETTER.
>> IT IS, SENATOR SINEMA OF
ZAYNE SAID NO INCREASES IN
RATES ON INDIVIDUALS OR
COMPANIES, THIS WOULD
CERTAINLY BE AN INCREASE I
DON’T KNOW WHEN THEY ROLLED
HER, THERE IS A SLIGHT PROBLEM
THE CONSTITUTION DOES NOT
ALLOW TAXING PROPERTY.
BECAUSE WHAT YOU WOULD BE
TAXING IS VALUE OF ASSETS
PROPERTY OR LAND, NOT TAXING
INCOME, THEY HAD TO CHANGE THE
CONSTITUTION, TO ALLOW THE
TAXATION OF INCOME, WE’VE
ALWAYS RULED IN THIS COUNTRY
THAT UNREALIZED INCOME ISN’T
INCOME IT ISN’T REAL.
AS YOU POINT OUT COULD
DISAPPEAR TOMORROW THE DOLLAR
WRITING MASSIVE HUNDRED
PLANNED CHECKS TO PEOPLE
BECAUSE THEY LOST MONEY YOU
WANT TO SEND CHECKS TO
BILLIONAIRES EVERY TIME VALUE
GOES DOWN.
DAGEN: A WAY FOR
ADMINISTRATION TO TRY AND RUN
ON THE RICHER EVIL WE’RE GOING
TO TAKE THEIR MONEY, AS YOU
POINTED OUT UNDER THE 16TH
AMENDMENT THIS IS QUESTIONABLE
AT A BARE MINIMUM, WOULD BE
FOUGHT IN COURT DIDN’T FOLKS
IN D.C. WORKING FOR BIDEN
INCORPORATED PAY ATTENTION TO
WHAT HAPPENED IN EUROPE TIME
AND AGAIN WEALTH TAXES
ESSENTIALLY WHAT THIS PROPOSAL
IS DON’T WORK HAD TO BE
REVERSED.
>> YES.
MOST ABOUT 12 COUNTRIES IN
EUROPE GET IT ALMOST ALL
REPEALED IT FOR JUST THAT
REASON, IT IS NOT WORKABLE.
YOU THINK THAT THE DEMOCRATS
WOULD HAVE WATCHED SEEN THE
FAILURE IN EUROPE RADIO, BUT
THEY DON’T CARE.
I THINK THIS IS A LOST LEADER
AS POLITICAL THEY WANT US
TALKING ABOUT TAXING RICH
PEOPLE BECAUSE WHAT IS REALLY
GOING TO HAPPEN GOING TO BE
TAXING THE MIDDLE CLASS WITH
ENERGY TAXES, OTHER THINGS, SO
THE REASON THIS IS ONLY ONE OF
TAXES, THAT HE IS GOING TO PUT
FORWARD HOLDING THE OTHER ONES
SECRET WHAT ARE THE OTHER ONES
FROM PAIN 51 TIMES SAID WANTED
TO GET RID OF ALL TRUMP TAX
CUTS THAT IS DEVASTATING FOR
MIDDLE INCOME AMERICANS SAID
IT AGAIN AND AGAIN AND AGAIN.
WE CAN’T CALL I AM -- SAY, HE
TOLD US HE WAS GOING TO TAX
MIDDLE CLASS.
MARIA: THAT IS TRUE, ALL AND
ALL THE TIME, THAT OUR CREDIT
IS MORE EXPENSIVE AS WELL
FEDERAL RESERVE BEGINS A
STRING OF RATE INCREASES LET’S
NOT FORGET THAT PRESSURE AS
WELL, BY THE WAY, THE
COMMITTEE FOR RESPONSIBLE
BUDGET SAID THAT THEY WANT TO
SEE A PLAN TO TACKLE INFLATION
AT 40-YEAR HIGHS IN THIS
BUDGET DO YOU THINK WE GET
THAT GROVER?
>> THE PRESIDENT DOESN’T SEEM
TO KNOW WHAT CAUSES INFLATION,
YOU HAVE PELOSI EXPLAINING
MASSIVE TAX INCREASE WILL
HELP, AND SPENDING WILL HELP
INFLATION.
WE REALLY ARE DEALING WITH
PEOPLE WHO ARE NOT REALLY IN
TOUCH WITH THEY ARE NOT
WILLING TO RECOGNIZE THEY
CAUSED THE INFLATION, BY
SPENDING BY PRINTING MORE
MONEY, AND BY TRYING TO DO
MORE OF THE SAME NOT GOING TO
BRING INFLATION DOWN.
MARIA: YEAH, IF YOU LOOK AT
INFLATION TIMELINE SPIKE
STARTED AFTER SIGNING INTO LAW
COVID RELIEF PACKAGE MARCH
2021, BEFORE RUSSIA INVADED
UKRAINE THANKS VERY MUCH FOR