A war is raging in Ukraine. Inflation has risen to a 30-year high and may have started to spiral out of control. The country is on the brink of recession, and a gaffe-prone leadership is under increasing fire. You could be forgiven for thinking that President Biden has more than enough problems right now. But he is about to make his already miserable term in the White House a whole lot worse. How? By adding a stock market crash, and the destruction of America’s best companies, to the already worryingly long list of self-inflicted disasters.
It is hard to think of a single tax that could be worse for growth
This week, Biden is set to unveil a ‘billionaire’s tax’ targeted at the country’s super-rich. The President, and his small group of revolutionary economic advisers, have already had two or three goes at squeezing some more money out of the likes of Jeff Bezos and Elon Musk.
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