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Janet Yellen Increasing Taxes by 4.7 Trillion Dollars in New Budget
Janet Yellen, the Treasury Secretary, has recently given the latest budget request to Congress which includes President Biden's proposed tax hikes. The massive budget request aims to raise $4.7 trillion over a decade by increasing taxes on corporations and high-income individuals. This move is aimed at financing President Biden's ambitious infrastructure plan and other social programs such as healthcare and education. However, the proposed tax hikes have been met with opposition from House Republicans who argue that it will harm small businesses and stifle economic growth. Meanwhile, the Senate Committee on Finance chaired by Senator Tim Scott has yet to weigh in on these proposals.
Janet Yellen Admits taxes for American People are going Up by 4.7 trillion
The budget proposal includes investments in infrastructure and clean energy, including $2.3 trillion to build a modern and equitable infrastructure system, create jobs, and combat climate change. It also includes $213 billion to upgrade roads, bridges, and public transit; $111 billion to improve drinking water, water infrastructure, and broadband access; and $100 billion to modernize the electrical grid. Additionally, the budget proposes $180 billion for research and development and $300 billion for job creation and training.
The budget proposal also includes investments in health care and education, with $200 billion to expand access to affordable health care, $6 billion to expand mental health services
It has Largely to do With Petrodollars ( source )
The Petro Dollar is the system of oil pricing that has been in place for decades. It requires oil-exporting nations to sell their oil in US dollars, allowing the US to print money and use it to purchase oil from these nations. This system has been in place since the 1970s and has been incredibly beneficial to the US economy.
However, the rise of the
BRICS
(Brazil, Russia, India, China, South Africa) economies has begun to challenge the Petro Dollar system. These countries have been working together to find ways to bypass the US dollar for oil transactions. Instead, they are looking to use their own currencies, such as the Chinese Yuan or the Russian Ruble. This could have a huge impact on the US economy, as it would mean that the US would no longer be able to print money to buy oil, and would have to use its own funds to do so. This could have a long-term impact on the US economy and could weaken the US dollar.
Biggest Crypto bull run of all time caused by Janet Yellen
The statement was seen as a sign of approval from the US government, and the crypto market responded with a massive surge in prices. USD's ammount is going to zero, as it gets knocked off the top traded currency for millions of other alternatives around the globe. BRIC's currency's hold a real treat to both Bitcoin and USD.
Crypto will surge as inflation makes more dollars exist in circulation while the same amount of BTC ETH and SHIB exist making them more valuable over time. Simple mathematics the us government knows this, and if certain people are given power for the next 4 years in 2024 they will attempt to control it. However unlucky for them, that is impossible with crypto currency, it is decentralized. The biggest bull run of 2023 awaits.
Janet Yellen, The Federal Reserve and Inflation
Janet Yellen originally took the position that inflation was transitory in 2021. That turned out to be false. As of April 2023 when this article is being written inflation is around 7%. It was here and Powell's spending that has lead to the mild hyper inflation of the US Dollar.
Joe Biden has made it clear that his administration will have a radical climate agenda. He has already boosted climate initiatives through the appointment of John Kerry as Special Envoy for Climate Change and other key positions. Patrick McHenry, the Republican chairman of the House Financial Services Committee, is a harsh critic of Global Warming circles. However, Ajay Banga won his endorsement due to his impressive background in finance and business. Banga is not only a CEO of Mastercard but also has extensive knowledge on financial services from his various roles in the banking industry.
Powell, Yellen, & the FED have inadvertently started the biggest crypto bull run of 2023
The Federal Funds Rate is the interest rate at which banks lend to each other overnight. It is the most important interest rate in the United States and is used to influence the cost of borrowing money. When the Federal Funds Rate is increased, it makes it more expensive for banks to borrow money, which in turn makes it more expensive for consumers to borrow money. This increase in the cost of borrowing money can have a positive effect on Bitcoin, as it makes it more attractive to investors who are looking for a safe haven from the volatility of the stock market.
When the Federal Funds Rate is increased, it also has a positive effect on the value of the US dollar. As the US dollar strengthens, it makes it more attractive for investors to purchase Bitcoin, as it is seen as a safe haven from the volatility of the stock market. This increase in demand for Bitcoin can lead to an increase in its price, which is beneficial for those who hold Bitcoin.
The increase in the Federal Funds Rate also has a positive effect on the global economy. As the US economy strengthens, it can lead to increased demand for goods and services from other countries, which can lead to increased demand for Bitcoin. This increased demand can lead to an increase in the price of Bitcoin, which is beneficial for those who hold it.
The increase in the Federal Funds Rate also has a positive effect on the cryptocurrency market as a whole. As the US economy strengthens, it can lead to increased demand for other cryptocurrencies, such as Ethereum and Litecoin. This increased demand can lead to an increase in the price of these cryptocurrencies, which is beneficial for those who hold them.
Overall, the increase in the Federal Funds Rate is excellent news for Bitcoin in the long run. It is a sign of a strengthening economy, which is good news for Bitcoin. It also has a positive effect on the US dollar, which makes it more attractive for investors to purchase Bitcoin. It also has a positive effect on the global economy, which can lead to increased demand for Bitcoin. Finally, it has a positive effect on the cryptocurrency market as a whole, which can lead to an increase in the price of other cryptocurrencies. All of these factors make the increase in the Federal Funds Rate excellent news for Bitcoin in the long run.
Why the Fall of the US dollar is good for Crypto currency
The fall of the US dollar is good for crypto currency because it is an opportunity for crypto to gain more market share as an alternative store of value. As the US dollar weakens, investors may look to crypto as a more attractive option for preserving their wealth. Additionally, a weaker US dollar can lead to higher inflation, which could cause people to move some of their wealth into crypto to protect it from the effects of inflation. Finally, a decrease in the value of the US dollar can make it difficult for businesses to conduct international transactions, creating a larger demand for crypto as a medium of international exchange.Why we have biden Federal Reserve to thank for the fall of the dollar
The Biden Federal Reserve has played a key role in the recent fall of the dollar. The Federal Reserve has been aggressive in its monetary policy easing and has launched several rounds of quantitative easing (QE). These measures have been designed to stimulate the US economy and help it recover from the economic damage caused by the COVID-19 pandemic. The increase in the money supply has made the US dollar less attractive to foreign investors, leading to a decrease in the value of the US dollar relative to other currencies.We Handle Every Single Aspect
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