Gregory Mannarino, PM 3/30/21:
"This Is A Set Up... Market Poised For A Big Move. BE READY!"
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Related:
TUESDAY, MAR 30, 2021 - 02:30 PM: "The Largest Tax Hike In Generations" Could Pay For Up To 75% Of Biden's Next Spending Plan"
On Wednesday, President Biden will unveil the first part of a two-part stimulus plan aimed at infrastructure, climate change, and social programs. While initial reports pegged the next round of stimulus at $3 trillion, the Washington Post's Jeff Stein now reports that new spending could top $4 trillion, while new taxes to pay for it - some of which Biden will also unveil Wednesday - could total over $3 trillion.
The two-pronged package Biden will begin unveiling this week includes higher amounts of federal spending but also significantly more in new tax revenue — with possibly as much as $4 trillion in new spending and more than $3 trillion in tax increases, said the people, who spoke on the condition of anonymity to describe private dynamics. One person familiar with the matter said that the early infrastructure draft did not include every tax increase the White House was eventually considering including in its ultimate proposal, and that the administration believes the tax hikes can also advance its goal of reducing income inequality. -WaPo"
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