Inflation Reduction Act ‘will have no measurable impact on inflation,’ economists say

[DigitalDrifter]

Not that anyone actually believed the title of the bill in the first place.

Pesident Biden recently signed the Inflation Reduction Act (IRA) into law with the goal of taming inflation and addressing climate, tax, and health care issues.

According to economists, however, the $430 billion price tag over the next 10 years is a hefty amount for what they consider to be marginal economic returns.

"Our preliminary analysis of the 'Inflation Reduction Act' (IRA), a climate, tax, and health-focused bill, shows it will boost the level of GDP by about 0.2%-0.3% by the end of 2031 and, despite its name, will have no measurable impact on inflation," Oxford Economics economists wrote in a new note.

The IRA is a slimmed-down version of Biden's original $4.5 trillion Build Back Better plan that focuses

MSN

 

[Mashmont]

Not that anyone actually believed the title of the bill in the first place.

MSN

The ignoramuses who thought it would lower inflation deserve to have their voting privileges removed.

 

[TroglocratsRdumb]

No reporter will ever ask Biden, Schumer or Pelosi about why they named it "inflation reduction act".
The Press protects the Democrat Cult.

 

[Thunk]

It will RAISE inflation considerably (in multiple ways)!

- Money printing will further devalue the dollar.

- Raising taxes on corporation means they will pass those costs onto us by increasing the price of their products.

- "Green" policies in this bill will raise prices of everything!

KEEP VOTING DEMOCRAT!

 

[SassyIrishLass]

Spending government money doesn't reduce inflation. Duh, that's like Econ 101

 

[JusticeHammer]

Imagine that.

 

[Resnic]

Build back better wasnt about reducing inflation and most said it would create it.

The inflation reduction act is just build back better that's been trimmed down a little and renamed.

So no, it isn't going to reduce inflation at all.

 

[struth]

Of course it won't....it will simply raise inflation, and raise taxes on the working class.

This is the demafasict way

 

[RoshawnMarkwees]

Bullshit it won’t have any impact. It’s gonna make things worse. Government is nothing but added overhead.

 

[22lcidw]

Progs have had people fooled for many years. We are getting the political education of a lifetime now with their prodigious spending. All of this of course will be used against the Repubs when they cut the taxes for the working class. Without the Reagan tax cuts the working class and retirees may be paying 60 or 70 per cent of yearly wealth right now easily.

 

[Staidhup]

It just goes to show just how uneducated and ignorant voters are and how easily swayed they are in believing whatever CNN…..et.al tells them. Sadly you can’t begin to tax and spend your way out of the hole you have dug for yourself. The travail of Liberalism on steroids. What we are experiencing today, in living color, is the garbage taught in schools and colleges today. The inmates are now running the asylum.

 

[Burgermeister]

It will RAISE inflation considerably (in multiple ways)!

- Money printing will further devalue the dollar.

- Raising taxes on corporation means they will pass those costs onto us by increasing the price of their products.

- "Green" policies in this bill will raise prices of everything!

KEEP VOTING DEMOCRAT!

Like all their solutions. They make the target condition worse. The last thing they want to do is fix anything.

 

[badbob85037]

Not that anyone actually believed the title of the bill in the first place.

MSN

Imagine that! A democRat policy that don't work.

 

[Superbadbrutha]

Of course it won't....it will simply raise inflation, and raise taxes on the working class.

This is the demafasict way

Maybe he should have just done like his predecessor and gave the rich another tax cut, that would make the economy take off.

 

[struth]

Maybe he should have just done like his predecessor and gave the rich another tax cut, that would make the economy take off.

trump gave a tax cut to everyone…and yes it made the economy take off

xiden raised taxes, it’s hurt the working class

 

[Superbadbrutha]

trump gave a tax cut to everyone…and yes it made the economy take off

xiden raised taxes, it’s hurt the working class

Trump's tax cuts benefitted the rich and did nothing for the middle class and poor.

Give me the tax bills that Biden signed that raised taxes on the middle class and poor.

 

[Ralph Norton]

Give me the tax bills that Biden signed that raised taxes on the middle class and poor.

He never said that. Biden increased taxes on corporations; corporations will pass that cost on to consumers which includes middle class and poor.

 

[struth]

Trump's tax cuts benefitted the rich and did nothing for the middle class and poor.

Give me the tax bills that Biden signed that raised taxes on the middle class and poor.

Um they lowered the tax burden on the working class. I know that seems to bother you, but some folks actually work, and want to keep their own money.

The top rate fell from 39.6% to 37%, while the 33% bracket dropped to 32%, the 28% bracket to 24%, the 25% bracket to 22%, and the 15% bracket to 12%.

As far as Xiden: As Americans are Paying Nearly $6,000 for Biden’s Inflation Tax, Democrats Plan to Raise Taxes More on Those Making Less Than $400,000 - House Budget Committee

 

[Staidhup]

You can not tax and spend your way toward achieving prosperity. Raising taxes has only one affect in tempering inflation, reduced consumption, increased unemployment.

 

[sartre play]

Not that anyone actually believed the title of the bill in the first place.

MSN

Reality, inflation is WORLD wide, No SIMPLE fix. ANY EFFORT toward improvement here is a worth while effort.