Joe Biden’s US budget proposal for 2025 was recently released, and it contains some massive tax increases that would go into effect very soon. I have to say that this budget proposal is the scariest document I have ever read issued by the government. You need to pay attention to this. I think with all the craziness going on in the world, that Joe Biden thinks he can slip this through without anyone noticing. Not on my watch he won’t. As an accountant, I read all these boring tax reports so that you do not have to. I am going to be breaking down everything you need to know.

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Time Codes
0:00 US Budget Process
1:52 Billionaire Tax
3:33 DEI in Taxes
5:39 Capital Gains Tax
10:55 Death Taxes
12:33 Carried Interest Exemption
13:23 1031 Exchanges
15:01 Increase in Government Spending