CBO: Inflation Reduction Act Won't Reduce Inflation

https://www.newsmax.com/politics/cb...-act-build-back-better/2022/08/07/id/1082114/

Wow, so the democrats passed some crap bill that isn't doing what it claims.....what else is new? Nothing when it comes to the democrats.

This inflation reduction act is just a Trojan Horse that wastes more money on stupid left wing ideas.

How much inflation will we have? With democrats the sky is the limit.

 

That is only for the first year, after that:
https://tax.thomsonreuters.com/news/inflation-bill-would-cut-deficits-by-102-bln-cbo-estimates/

The Inflation Reduction Act of 2022 (H.R. 5376) would cut federal spending by $14.5 billion and raise $87 billion in revenue, reducing government deficits by nearly $102 billion over 10 years, the Congressional Budget Office estimated after reviewing the pending legislation.​

Not to mention the decreases to prescription drug cost which will be a massive help for American families.

 

It'll just hurt the middle class

 

Stealing more money from the already over taxed middle class will not be good.

 

Isn’t the bulk of the taxes aimed at the upper income earners and minimum taxes on companies that make over a billion in profits?

 

Not to mention the 80 billion to hire an army of new IRS agents to hound the middle class and take out political enemies of the elite. Not to mention the 15% tax on manufacturers which will increase the cost of everything for the middle and working classes. This is just another bill from the Democrats meant to increase wealth inequality. It benefits a few of their billionaire donors and harms everybody else.

 

Re-read the OP.

 

No it's aimed at middle class. You can't get money from the billionaires because they have loopholes built into the tax code, they can hire CPAs to make sure they pay as little as possible.

That's why tax code is so complicated so that rich people can weasel out of it.

Also the government doesn't have revenue they steal. They can't have revenue they don't produce anything.

 

Spot on!

 

Heard that they want to hire 87,000 new IRS agents (on top of the 80,000 we already have) while there are only 29,000 border patrol agents.

 

Dems want bigger agencies that can go after political opponents.

 

And the ignorance of the American people just blissfully keep electing these life long criminals.

 

No better evidence of that than looking at where the IRS does the most audits. They are a partisan criminal outfit and this map proves it.

 

Where did the CBO say that?

 

Don't know about the CBO. I do know about Paul Pelosi who will benefit to the tune of millions by this bill. Democrats are looting the treasury for themselves and their family yet again. Scum all the way down. You could care less. You literally don't give a damn. There isn't a single thing in this monstrosity that will do a thing to benefit you or the nation and you don't care. Perhaps you will care a little more when the auditors come for you.

 

Lol he invested in green, don’t blame him for common sense

 

I am not aware that TSMC is a green company.

 

Americans Will 'Fire The Democrat Majority' In Midterms For Passing $740B Bill


"Democrats under Joe Biden have spent trillions..."

“Democrats under Joe Biden have created the worst inflation in over four decades, and now their answer to this disaster of their own making is to tax us into a recession.”

"It is not right to tackle the spiraling inflation by raising “taxes on small business and middle-class Americans,” as well as spending money on the “Green New Deal” agenda."

“This proposal could put more than 100,000 American jobs at risk and inflict a severely disproportionate economic impact on natural gas producing states, like Oklahoma.”

"The Senate bill will drive up the cost of household energy bills. It will levy a 16.4 cents-per-barrel tax on crude oil and imported petroleum products that will be passed on to consumers in the forms of higher gas prices.

Remember their last bill?

“The American Rescue Plan–a $1.9 trillion tax and spend proposal passed in 2021–was disaster for the American people. At the time of its passage, inflation was 2.6 percent. It is now 9.1 percent. And it’s no accident that the American Rescue Plan caused this problem.”

“In November the American people will fire the Democrat majority who have created the chaos in their lives. Every problem we had before the Inflation Reduction Act was introduced is only going to get worse because of the policies in this bill.”

“Democrats will pay the price in November for raising taxes on families during a recession.”

"Democrats voted against common sense Republican amendments to the bill such as banning strategic petroleum crude exports to China, and expediting consideration of permits for infrastructure and energy projects.

“The Democrats’ war on American energy continued today. These proposals would have unleashed American energy and lowered costs for families.”

 

Dems are on their way out.

 

And how will that happen? The taxpayers will fund it.

As with most things between the government and the health care industry, they address the symptoms, not the actual cause.

BOHICA!!

 

They lie about everything, and they are cult.

TRUST THE SCIENCE, APPEASE THE GODS! Pelosi: Biden-Manchin climate bill will appease ‘angry’ Earth: ‘Mother Earth gets angry from time to time, & this legislation will help us address all of that.’

"How about we throw a few congressional leaders into a volcano just to be safe."

https://instapundit.com/537188/

​

She's demented and she's not alone. She's also quite crooked, the main point of the bill is graft for the Green Cultists.

"Princeton Professor Emeritus of Physics William Happer in 2017 drew parallels to today’s man-made climate change claims. “I don’t see a whole lot of difference between the consensus on climate change and the consensus on witches. At the witch trials in Salem the judges were educated at Harvard. This was supposedly 100 percent science. The one or two people who said there were no witches were immediately hung. Not much has changed,” Happer quipped. …"

"Today, ‘politicians now take a more subtle approach to human sacrifice. By raising energy prices, they can freeze people to death silently in their homes, which has the same effect of appeasing the CO2 gods’"

2006: Catholic Cardinal George Pell: ‘In the past, pagans sacrificed animals and even humans in vain attempts to placate capricious and cruel gods. Today they demand a reduction in Co2 emissions’

84 days until this vile old hag gets her walking papers and we begin restoring sanity and the rule of law to DC.

And we are also going to win the war on Christmas

​

 

The inflation Reduction Act is nothing more than Build Back Better Redux. Inflation has nothing to do with it. When congress asked their marketing and PR people what they should name it, they were told to get the word inflation in there.

 

Inside the Dishonest ‘Inflation Reduction Act.’

It's always all lies with these folks, and the lies start right in the title.

"Environmentalist disappointment and subsequent outrage is destined to appear again regardless for two reasons. First, environmentalists can’t live without the frisson of apocalyptic doom, so they will have to resume the nonstop messaging of climate doom."

And expect a fair amount of Obama-style trickle-down crony corporatism as well:

 

Even if you believe it takes 87k IRS agents to control the 930 billionaires, there is zero chance they, nor their companies will eat a 15% tax and not pass that on to you and me. Tax breaks for growth and investment has always kept our companies striving to grow and hire more people. Every mom and pop that invested their life savings into their little restaurant that feeds you will now have to raise the price of your burger to cover the additional cost, when they had planned on using their building and equipment, that they took a note out for, as write off's and use the depreciation to lower their tax burden until paid off. The other option is they go bankrupt by eating their profits and the bank eats it. The more the bank eats the more your banking fees and local interest rates go up on personal loans.

 

Im shocked! Next, you will try to tell me that free booze doesn't reduce alcoholism!