Weekly review | Capital Gains Tax, Biden, Tax Policy, U.S. Inflation, State and Federal Taxes

Elon Musk and other financial leaders have raised alarms about the Biden administration's deficit spending, warning of severe economic repercussions. Despite Musk's critique of massive spending bills, which he argues could lead America to bankruptcy, the U.S. national debt continues to swell, with interest payments projected to increase dramatically. Warren Buffett and other experts suggest that higher taxes might be inevitable to address fiscal deficits. With the U.S. debt-to-GDP ratio expected to soar, analysts from the University of Pennsylvania warn that the country has about 20 years to correct its course before irreversible damage occurs, forecasting a sharp escalation that could lead to a financial crisis.


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