No wonder Ford lost.
Posted on 07/28/2022 5:37:59 PM PDT by bitt
The first thing to remember about the reconciliation bill Sens. Joe Manchin and Chuck Schumer agreed to Wednesday is that despite its utterly preposterous name, it has absolutely zero to do with inflation. The Inflation Reduction Act is crammed with the very same spending, corporate welfare, price-fixing and tax hikes that were part of Build Back Better — long-desired progressive wish-list agenda items. Pumping hundreds of billions into the economy will do nothing to alleviate inflation. The opposite.
Let’s also remember the Democrats’ deflection on inflation last year — claiming it was “transitory” and “no serious economist” is “suggesting there’s unchecked inflation on the way” and so on — was all part of a concerted political effort to ignore the problem long enough to cram through a $5.5 trillion iteration of their agenda. And when inflation suddenly became non-transitory and politically problematic, the Biden administration argued that more spending would relieve inflation. It doesn’t care about the economy, as long as dependency is being expanded.
The bill is far more likely to spike consumer prices than not. You can hate corporations with the heat of a thousand suns and grouse about the lack of fairness in the world, but it won’t change the fact that businesses don’t pay taxes, they collect them. The Dems claim their bill raises $313 billion with a minimum 15% corporate tax rate. They seem to be under the impression corporations that pay less than 15% are evading taxes rather than using completely legal tools like accelerated depreciation or taking advantage of tax credits. Whatever the case, raising corporate taxes means fewer jobs or higher prices. Maybe both. What it won’t do is lower inflation.
(Excerpt) Read more at nypost.com ...
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I’m glad I paid-off all of my debt last year. Things are going to get VERY bad before 2024.
But...but it’s called the Inflation Reduction Act, so it has to reduce inflation, right?
No wonder Ford lost.
I remember the old days when the Treasury sold bonds to raise money instead of just putting ones and zeros into a computer.
It had long been known that the name the DemoNazis give a bill is exactly the opposite of what it really does.
Why, that’s just dishonest.
Yes. Democrats wouldn't lie, would they? 😇
Yes. Democrats wouldn't lie, would they? 😇
Manchin doesn’t care. He held out and got his natural gas pipeline in his home state.
Screw America.
Every whore has their price, and we just learned what Manchin’s was.
Leftist DEMs don’t give one sh*t about inflation.
Leftist DEMs don’t give one sh*t about 99.8% of the American people.
Leftist DEMs come in all flavors, shapes, and sizes, just ask Manchin.
McConnellIdiot allowed himself to be DUPED by the Leftist DEMs and Manchin.
Virtually anything the Leftist DEMs say you need to take the opposite of.
In short, this is the ongoing, purposeful, deliberate destruction of America.
Will Democrats ever learn? These massive government spending plans always produce inflation and under present circumstances more spending is like adding gasoline to a fire and likely will bring back the stagflation of Jimmy Carter. It is not possible to spend your way to a robust economy...it has never worked.
Only between sunrise and sunset, and vice versa.
I told you we won’t run out of money and that we had nothing to worry about,
In the same way that pouring more gasoline on a fire will extinguish the flames. 😡 I doubt these people are that stupid; just as likely they are proceeding with their plan to destroy America - invite our enemies to come on in (open borders) and drain what little we have left. Let's face it: they had NO electoral mandate to rip the country to shreds... they just seized it.
With pressure building on Sen. Manchin to knuckle under I figured last week his time had come: either he would switch to the Republican side in the Senate or he would play his cards to his great advantage. Obviously he is a Marxist idealogue.
My understanding is that Manchin gained advantages for his constituents in West Virginia. One perk that was mentioned was good black lung benefits for coal miners. If that is true it is a deal that he made to get the United Mineworkers Union on his side, not the workers. In today's coal industry black lung is a memory; perhaps a few older long retired miners still need assistance. Certainly for 40 years at least mine working conditions have obviated that crippling disability.
What did Manchin sell out his country for?
So true.
If electricity goes up, the cost to make the product goes up, thus the price the customer pays for it is going to go up.
Plug in ANY item that is encountered to make any product and if the price of it goes up, you can be sure that the cost to build it will as well.
'Business taxes' are no different.
BWAHAHAHA! Do I sense a fake sense of shock?
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