JGalt
Diamond Member
- Mar 9, 2011
- 73,423
- 90,046
- 3,635
To those who voted for this, did you think you were exempt or something?
President Joe Biden signed the act into law in August, injecting $473 billion of new spending on climate and healthcare, yet there are strong concerns it will do little to reduce inflation.
In fact, middle class Americans will pay new taxes - directly contradicting Biden's promise to not raise penalties on people earning under $400,000. "
All the tax hikes hitting Americans on January 1 revealed
"Think your bills are high now? All the tax hikes hitting Americans on January 1 revealed: Electricity costs to soar and even your nest egg is not safe"
- Democrats claimed Inflation Reduction Act would help ordinary Americans
- But new analysis suggests it shreds President Biden's promise not to raise taxes for Americans making less than $400,000 per year
- The Inflation Reduction Act includes three major energy taxes that are expected to increase household energy bills
- One is a regressive tax on American oil and gas development, estimated to increase taxes by $6.5 billion
- Democrats are proposing a 16.4 cents-per-barrel tax on crude oil, likely to be passed on to consumers in the form of higher gas prices
- US inflation is 7.1% for 12 months to November 2022 after rising 7.7% previously
President Joe Biden signed the act into law in August, injecting $473 billion of new spending on climate and healthcare, yet there are strong concerns it will do little to reduce inflation.
In fact, middle class Americans will pay new taxes - directly contradicting Biden's promise to not raise penalties on people earning under $400,000. "
All the tax hikes hitting Americans on January 1 revealed