Biden's "Inflation Reduction Act" will cause inflation to rise.

[Nostra]

You can simply move the $288B below the line as a negative number and call it a savings of expenses if you want. Same result and you’ll be happier with the terminology.

Link us up to the last tax hike that raised what was initially sold to the American people.

 

[bripat9643]

The thread premise is a lie.

Inflation doesn't 'belong' to a given president.

Sure it does. This bout of it belongs purely to Biden and all his massive spending bills.

 

[bripat9643]

And where are these economists from?

The anti-tax Heritage Foundation of course

They're real issue is that this has a tax in it (on corporations)and that's a no no for them

No legitimate economist endorses tax increases, and this bill has plenty of taxes on the middle class.

 

[Clipper]

Just like all Democrat ideas it will do the opposite of what they claim. It also raises taxes on the poor and middle class. Another Biden promise broken.

This economist agrees with the Joint Committee on Taxation that this bull is a sham.

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says​

The Inflation Reduction Act will drive prices even higher, economist says​

Senate Majority Leader Chuck Schumer and Sen. Joe Manchin's reconciliation bill, the Inflation Reduction Act, is deceptively named since it will actually exacerbate Americans' pain from inflation while simultaneously raising taxes, an economist told Fox News.

"The greatest example of deceptive marketing today is the name that the Democrats have chosen for this piece of legislation," a research fellow at the Heritage Foundation, EJ Antoni, told Fox News. "It does absolutely nothing to address the problem of inflation."

The Inflation Reduction Act, which Manchin and Schumer announced Wednesday, is a slimmed down version of President Biden’s Build Back Better Act with a $433 billion price tag, most of which will be spent on climate provisions. The Committee on Taxation estimates that it will raise $739 billion through a variety of measures, including a minimum tax rate on large corporations and enhanced IRS enforcement.

"It does nothing to address the problem of inflation and instead only exacerbates the existing high prices and will drive prices even higher," Antoni told Fox News. "It's just adding insult to injury."

"Inflation is fundamentally too much money relative to the amount of goods and services in the economy," Antoni told Fox News. "So, if you're just going to raise taxes, all you've done at that point is transfer money from one person to another, the taxpayer to the government."

But you haven't actually changed the amount of goods and services relative to the amount of money in the economy," he continued. "So it does nothing to fight inflation."

Antoni also said the higher taxes will impact consumers.


There will be taxes on energy that will be passed through to the consumer at all different levels, not only in the purchase of energy itself, but because energy affects everything we do and everything we buy," Antoni said. "Those prices will trickle down into everything else, just as we've seen higher prices for diesel and gasoline over the last 18 months trickle down everywhere else into consumers purchases."

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says

An economist said the Inflation Reduction Act is an example of deceptive marketing and will exacerbate the pain felt by Americans struggling with inflation.

www.foxnews.com

If energy companies who are making record profits raise prices instead of giving consumers a break how is that Biden's fault, CLOWN? Oh & if corporate America raises prices nailing consumers why do they give a shit if they're taxes are raised? Will their profits be lower?

Any more bright ideas, numbnuts?

 

[citygator]

So why isn't it listed like that (which any 1st year Accounting student would wonder)?

It’s inflows and outflows. It’s geared to normal people not business accountants. Doesn’t change the substance of the measure though.

 

[Nostra]

If energy companies who are making record profits raise prices instead of giving consumers a break how is that Biden's fault, CLOWN? Oh & if corporate America raises prices nailing consumers why do they give a shit if they're taxes are raised? Will their profits be lower?

Any more bright ideas, numbnuts?

Anything on topic, Troll?

 

[citygator]

No legitimate economist endorses tax increases, and this bill has plenty of taxes on the middle class.

Zero taxes on the middle class. List them.

 

[bripat9643]

If energy companies who are making record profits raise prices instead of giving consumers a break how is that Biden's fault, CLOWN? Oh & if corporate America raises prices nailing consumers why do they give a shit if they're taxes are raised? Will their profits be lower?

Any more bright ideas, numbnuts?

It's not the corporations we are concerned about, moron. It's taxpayers.

 

[Clipper]

But Antoni said raising taxes to fight surging prices shows a misunderstanding of inflation.

"Inflation is fundamentally too much money relative to the amount of goods and services in the economy," Antoni told Fox News. "So, if you're just going to raise taxes, all you've done at that point is transfer money from one person to another, the taxpayer to the government."


"But you haven't actually changed the amount of goods and services relative to the amount of money in the economy," he continued. "So it does nothing to fight inflation."


On top of that, when you raises taxes on anything, ultimately those taxes get passed down to the consumer. So, prices go up for the same damn thing, and we don't need higher prices.

"There will be taxes on energy that will be passed through to the consumer at all different levels, not only in the purchase of energy itself, but because energy affects everything we do and everything we buy," Antoni said. "Those prices will trickle down into everything else, just as we've seen higher prices for diesel and gasoline over the last 18 months trickle down everywhere else into consumers purchases."


I don't think the impact of this bill on inflation and economic growth will be all that much, cuz the amounts we're talking about isn't sufficient to move the needle much. But it's the wrong thing to do and any idiot with half a brain should be able to see that this bill is entirely political that is meant to save jobs. Not ours, theirs - the democrats in Congress.

How is corporate greed Biden's fault? Explain.

 

[B. Kidd]

Just like all Democrat ideas it will do the opposite of what they claim. It also raises taxes on the poor and middle class. Another Biden promise broken.

This economist agrees with the Joint Committee on Taxation that this bull is a sham.

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says​

The Inflation Reduction Act will drive prices even higher, economist says​

Senate Majority Leader Chuck Schumer and Sen. Joe Manchin's reconciliation bill, the Inflation Reduction Act, is deceptively named since it will actually exacerbate Americans' pain from inflation while simultaneously raising taxes, an economist told Fox News.

"The greatest example of deceptive marketing today is the name that the Democrats have chosen for this piece of legislation," a research fellow at the Heritage Foundation, EJ Antoni, told Fox News. "It does absolutely nothing to address the problem of inflation."

The Inflation Reduction Act, which Manchin and Schumer announced Wednesday, is a slimmed down version of President Biden’s Build Back Better Act with a $433 billion price tag, most of which will be spent on climate provisions. The Committee on Taxation estimates that it will raise $739 billion through a variety of measures, including a minimum tax rate on large corporations and enhanced IRS enforcement.

"It does nothing to address the problem of inflation and instead only exacerbates the existing high prices and will drive prices even higher," Antoni told Fox News. "It's just adding insult to injury."

"Inflation is fundamentally too much money relative to the amount of goods and services in the economy," Antoni told Fox News. "So, if you're just going to raise taxes, all you've done at that point is transfer money from one person to another, the taxpayer to the government."

But you haven't actually changed the amount of goods and services relative to the amount of money in the economy," he continued. "So it does nothing to fight inflation."

Antoni also said the higher taxes will impact consumers.


There will be taxes on energy that will be passed through to the consumer at all different levels, not only in the purchase of energy itself, but because energy affects everything we do and everything we buy," Antoni said. "Those prices will trickle down into everything else, just as we've seen higher prices for diesel and gasoline over the last 18 months trickle down everywhere else into consumers purchases."

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says

An economist said the Inflation Reduction Act is an example of deceptive marketing and will exacerbate the pain felt by Americans struggling with inflation.

www.foxnews.com

Most of it doesn't kick in until 2027.

What year is this??

 

[citygator]

Link us up to the last tax hike that raised what was initially sold to the American people.

Link me to proof you are not a Russian troll. Then link me to the last tax cut that paid for itself. Then I’ll link a tax that raises money. Hint… it’ll look like this…

Study: Obama tax hikes on rich didn't hurt economy, or rich

WASHINGTON (AP) — President Barack Obama's 2013 tax increases for wealthy Americans neither slowed their income growth nor hurt the economy, according to a study that taps into a key debate in the current presidential race.

apnews.com

 

[Clipper]

It's not the corporations we are concerned about, moron. It's taxpayers.

Tell it to corporate America who are right now raising prices while at the same time lowering package quantities on everything from aspirin to zip ties.

We're getting screwed by corporate greed. Btw, now that gas prices have been dropping for a few weeks have you seen any drop in prices, dipshit?

 

[Clipper]

Anything on topic, Troll?

Can you read, blowhard?

 

[Clipper]

No legitimate economist endorses tax increases, and this bill has plenty of taxes on the middle class.

Such as?

 

[citygator]

Such as?

He won’t be back.

 

[Clipper]

Link me to proof you are not a Russian troll. Then link me to the last tax cut that paid for itself. Then I’ll link a tax that raises money. Hint… it’ll look like this…

Study: Obama tax hikes on rich didn't hurt economy, or rich

WASHINGTON (AP) — President Barack Obama's 2013 tax increases for wealthy Americans neither slowed their income growth nor hurt the economy, according to a study that taps into a key debate in the current presidential race.

apnews.com

He'll have to check in with Fox for the latest episode of "Blowing Smoke Up The Ass Of The Herd".

 

[Clipper]

He won’t be back.

He has to wait for Tucker to come on in about 3 hours to answer.

 

[Nostra]

Link me to proof you are not a Russian troll. Then link me to the last tax cut that paid for itself. Then I’ll link a tax that raises money. Hint… it’ll look like this…

Study: Obama tax hikes on rich didn't hurt economy, or rich

WASHINGTON (AP) — President Barack Obama's 2013 tax increases for wealthy Americans neither slowed their income growth nor hurt the economy, according to a study that taps into a key debate in the current presidential race.

apnews.com

I don't see revenue projected vs actual revenue anywhere in your link.

Try again, Simp.

And link us up to where I have ever claimed a tax cut needs to "pay for itself", Dumbass. I don't believe all money belongs to the govt, so I have never said anything close to that.

 

[bripat9643]

How is corporate greed Biden's fault? Explain.

"Corporate greed" is just a leftwing mantra. It's not a tangible economic concept.

 

[Clipper]

"Corporate greed" is just a leftwing mantra. It's not a tangible economic concept.

Where's those middle class tax hikes in this bill?

Think you can handle it?