President Biden unveiled his $6.8 trillion budget proposal on Thursday, signaling an aggressive tax plan for the wealthiest Americans and corporations to fund new social programs for the middle class and the poor. The most iconic aspect of Biden's budget includes the $5 trillion proposed in tax increases to offset new spending, specifically targeting the wealthy and corporations. In his address, the President said, "This is our opportunity to right the wrongs of the past and build a future - to put in place an economy that finally works for everyone."

Biden's budget seeks to reduce budget deficits by nearly $3 trillion over a decade, mostly due to the proposed tax increases. Additionally, the President's budget aims to steady the national debt, currently at its highest in U.S. history at $28 trillion, by controlling the annual deficit. Although Biden's budget is expected to increase