We start 2021 with a “new” President (that is, Obama’s aged VP Joe Biden) with former Fed Chair Janet “The Mad Printer” Yellen as Treasury Secretary and Jerome “The Skipper” Powell remaining as Fed Chair. Can The Fed print our way to prosperity? Not with money velocity (GDP/Money Supply) at historic lows and M1 money stock growing at 67% YoY. Biden claims he will not raise taxes on any household making over $400,000. What is Pelosi & House Democrats decide to raise taxes on households making over $200,000? Biden’s plan includes: Imposes a 12.4 percent Old-Age, Survivors, and Disability Insurance (Social Security) payroll tax on income earned above $400,000, evenly split between employers and employees. This would create a “donut hole” in the current Social Security payroll tax, where wages between $137,700, the current wage cap, and $400,000 are not taxed.