Senate democrats just passed The Inflation Reduction Act of 2022 which will not reduce inflation, but instead raises taxes for the climate change agenda and expands the IRS to collect those taxes. The bill now goes to the House of Representatives where the democrats will surely pass the bill. This is a clear example of how Congress lies to the people and represents only party-line agendas. Louisiana Republican Senator John Kennedy summed it up: “It’s a special kind of stupid to raise taxes during both a recession and inflation—that’s called stagflation, which is what we have right now as a result of President Biden’s policies.” This legislation is an indicator of an expanding tyrannical government.
Senator Marsha Blackburn (R-TN) said, “The Democrats’ reckless tax and spending plan includes nearly $370 billion to fund the Green New Deal, $64 billion for Obamacare, and hundreds of billions in new taxes on American businesses and manufacturers…The spending spree also includes $80 billion to double the number of IRS agents–practically giving every American a personalized tax auditor. We should be cutting taxes, not increasing them.” What it amounts to is spending $370 billion to stimulate the pet climate change, green energy agenda of the left, rewarding non-profits, state and local governments, and Indian tribal governments with government cash payments while increasing taxes on corporations and raising drug prices on Medicare to pay for it.
The Democrats claim the bill would reduce the deficit by some $300 billion, which would lower inflation. Think about this. At the time of this writing, the US federal deficit was nearly $1.6 TRILLION and the US national debt was $30.6 TRILLION. Applying intelligence and common sense, making a payment of $300 billion against a $31 Trillion debt is hardly going to reduce inflation of any kind, especially when raising taxes and Medicare drug prices to redistribute taxpayer funds to climate change cronies. This legislation only raises the misery index by cutting benefits to senior citizens and causing corporations to raise prices on goods and services to cover the tax increase. The prestigious Wharton-Penn Budget model says it will have zero impact on inflation, after raising inflation initially.
This legislation is the linchpin of the Democratic Party’s anti-American socialist agenda. We are witnessing the United States in great decline both morally and economically. They raise taxes by saying they are making the rich pay their fair share. In reality, this is a tax increase on everybody who consumes any product from any company in America. Meanwhile, the government will have its boot to every taxpayers’ throat as Congress doubles the enforcers at the IRS—an unconstitutional administrative agency with the power to ruin lives without due process. This law is wrapped in tyranny and it is neatly tied with a bow of lies. As in Jeremiah 9:8, “Their tongue is an arrow shot out; It speaks deceit.”
Sources:
https://budgetmodel.wharton.upenn.edu/issues/2022/7/29/inflation-reduction-act-preliminary-estimates
