Biden Budget, Ukraine, Fed nominations

This was the week President Biden had promised his proposed budget for FY 2023 that begins on October 1, 2022.  There was much attention given to the President’s proposal to pay for some of his budget increases with a wealth tax that would hit taxpayers with assets over $100M.  The heart of the proposal was a scheme that would tax unrealized gains of these high-net-worth individuals. 

I was interviewed by Barrons on the new budget and made the point that no one needed to pan...

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