new low when it comes to the economy. fox team coverage, now charlie hurt joins us in moments with his thoughts on this, but begin with fox business live on capitol hill. president biden s budget puts a bulls eye on billionaires as a way to bring down the deficit, not by spending less but taxing more. includes 2.5 trillion in new tax hikes which if implemented as is, would be the largest tax hike in u.s. history. president biden does want to put a 20% minimum tax rate on people with more than $100 million of estimated wealth. doing so, they say the white house would bring down debt by $360 billion over the next decade. but congressman jason smith, a top republican on the house budget committee says taxes target job creators, saying this, what the budget shows is president biden values more spending, more debt, more taxes,