Costs Biden’s political capital

“Biden raising taxes would be ‘risky political move’: Former Clinton adviser,” Fox Business, https://www.foxbusiness.com/money/biden-raising-taxes-risky-clinton-adviser

“You’re in the middle of a pandemic, in which the leading economic spokespeople for the administration just said that we have a long way for recovery. So obviously a big tax increase is not a formula for economic recovery. So it's a risky political move to do a tax increase...until the economy is on a stable and strong footing. Right now, the administration started out with a decent honeymoon -- the public likes Joe Biden. I think they're waiting to really see more of him in the upcoming press conference that's been long delayed. I think that the administration should perhaps tread carefully here. The stimulus bill got passed -- almost 2 trillion -- but they're going to try to put 2 to 4 trillion, the largest tax increase in history. The Democratic moderates may not go along with it. The border is raging; there's an embarrassing China meeting...this could be a short-lived honeymoon unless the administration slows down a bit, and accumulates political capital here.