Posted on 08/08/2022 9:36:32 AM PDT by qaz123
Americans for Tax Reform (ATR) has listed several taxes in in the so-called “Inflation Reduction Act” that passed the Senate on Sunday — which Democrats now hail as a “climate” bill, since the Congressional Budget Offices says it will hardly reduce inflation.
These taxes include taxes on fossil fuel, which will raise energy costs for working-class families, still struggling with high gas prices; taxes on businesses that will affect consumers and entrepreneurs; taxes on medicines; and taxes that affect pensions.
(Excerpt) Read more at breitbart.com ...
Points from the article, IMHO:
Taxes on fossil fuels .... take whatever taxes/penalties they want to impose on these industries, double or triple them as the associated costs are passed on to the consumers. Or, outright shutting down of an industry, like coal. And all those folks that elected Manchin because he wasn't like Schumer, out of work. No solar panel factory being built in WVa, either. And when winter comes, folks will be freezing to death and others will be wondering how this all happened. All Trump's/Putin's fault.
Taxes on corporations ... corporations pay as little taxes as they can. How does Amazon and GE get away with NOT paying any taxes? The Tax Code that the morons in Congress write and add on to, so they can give their donors tax breaks. And then scratch their heads when others use the same carve outs. The Leftist, liberal hipster voter has ZERO idea of why Bezos, et al, have armies of auditors and accountants to write-off everything from staples to the corporate jet and everything in between so they can reduce the tax liability to NOTHING.
Indirect tax on pensions through taxing stock buybacks ... "hurts 401(k) savings, and even union pension funds." doesn't hurt Congressional pensions. Doesn't hurt the salaries of the union bosses who will be able to redirect what they have to somewhere safer. All it does is make people more subservient to the government and to Wall St, who will not be hurt one single bit, as always.
Tax on pharmaceuticals unless they accept price caps .... as stated earlier, the march toward socialism and government control over business is humming along. Newsome says that he wants California to start making and providing insulin. That would be called "testing the waters" to some paying attention. And I'm sure, if they follow through with it, that the standards needed for a private company to open a facility, make and distribute the insulin will somewhat softened for Newsome and his pals/donors. You know, the ones that will be funding such a thing so they can get paid.
Taxes only help the already rich, lifetime politicians.
Every time the gubment changes its mind and forces utilities to change how they generate power -- those transition costs are added to our power bills. The same with the new fines for burning natural gas in the natural gas plants the gubment told the utilities they had to use.
They might as well call every bill The Screw Americans Act
LOL - funny and TRUE... good one Pollard.
2019
Where you are more likely to be audited
https://projects.propublica.org/graphics/eitc-audit
70,000 irs agents will now be armed
This is what 81,000,000 Americans voter for, right? And I don’t think all that many have learned much from that election, sadly.
Do I need to put the sarcasm thing on here?
A 95% excise tax on medications unless the companies allow price controls. What a raw deal.
These people suck.
But you already know that.
PING!
I’m guessing it was actually 78 to 79 million Americans. Six states stopping counting simultaneously helped “produce” the ballots to make it 81 million.
Well....XYZ Company that makes insulin
“XYX guy, you don’t want to accept price controls?”
“No”
“We’re going to tax you into oblivion and take your business”
“Take it. I have enough to retire on anyway. Bye.”
I'd be willing to bet that the grand total of all legal votes for Biden were in the mid-60 million range. No way in hell he came that close.
Agree.
"[...] since the Congressional Budget Offices says it will hardly reduce inflation."
FR: Never Accept the Premise of Your Opponent’s Argument
The states desperately need to eliminate the unconstitutional middleman, the unconstitutionally big federal government, from "helping" the states to manage their revenues.
More specifically...
New Trump-endorsed federal lawmakers in 2023 need to require the CBO by law to publicly report in 24 hours when any item in any appropriations bill cannot reasonably be justified under Congress's constitutional Article I, Section 8-limited powers.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.In fact, the congressional record shows that Rep. John Bingham, the main author of Section 1 of the 14th Amendment, had clarified that the delegates to the Constitutional Convention had left the care of the people uniquely to the states, not the feds.
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
In the meanwhile, Trump's red tsunami of patriot supporters need to start supporting their Trump-endorsed candidates for state government offices ASAP in putting a permanent stop to unconstitutional federal taxes according to the Gibbons v. Ogden excerpt above.
This will be done imo by having ALL the states effectively "secede" from the unconstitutionally big federal government by repealing the 16th (direct taxes) and 17th (popular election of federal senators) Amendments (16&17A).
If the repeal amendment is strictly limited to repeal of 16&17A, then relatively little or ideally no discussion will be needed imo.
Once 16&17A are gone, unconstitutional federal taxes stopped, each state will ultimately find a tsunami of new revenues (imo) that can be used to increase teacher salaries, also salaries of police and fire departments for starters.
Let's also include new state funding for infrastructure maintenance in that list. Undoubtedly many other state social spending programs as well to replace former unconstitutional federal spending programs.
Additionally, no more forced compliance with Democratic politically correct but unconstitutional federal gender-related civil rights protections in order for school kids to eat likewise unconstitutional federal lunches paid for with stolen state revenues for example.
In fact, Justice Louis Brandeis had seemingly reflected on Bingham's words (above) when Brandeis volunteered his "laboratories of democracy" metaphor to emphasize the power of the states to serve the people, ultimately depending on the kind of state social spending programs that the legal majority citizen voters of a given state want.
"[...] a single courageous State may, if its citizens choose, serve as a laboratory; and try novel social and economic experiments without risk to the rest of the country." —Justice Louis Brandeis, Laboratories of Democracy.
Corrections, insights welcome.
This is partly BS, they pay incredible amounts in Payroll taxes.
bmp
70,000 armed irs agents=coming after 401(k)s and houses.
The Democrats are coming after the actual raw wealth and heart of the US.
PO’Biden and the Democrat want it all and will throw dissidents in jails or kill them.
97% of people earning between 100 and 200 K will be taxed more
91% of the next category up
Need to call it the Manchin tax.
As I recall, price controls are the camel's nose under the tent that is employed by the Communist/ Socialists
This begins a dangerous precedent !
Even if the GOP takes both houses of Congress this November, I have little hope the RINO leadership will do anything to dismantle this travesty. However, when gasoline prices continue to soar and inflation reaches unprecedented levels as a result of this legislation it will set the stage to oust Democrats from the White House in 2024.
Seeing Chuck Schumer and other Senate Democrats squealing with glee that the wonderful bill was passed was sickening. They are so out of touch with reality and are either totally ignorant of the misery this will put upon people already suffering from the inflation they caused or are diabolical in rejoicing in the new power it gives them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.