Posted on 12/30/2022 6:31:19 AM PST by artichokegrower
Democrats claimed the Inflation Reduction Act would help ordinary Americans, but new analysis suggests people making less than $400,000 a year could end up paying $20 billion of the new tax revenue it brings in.
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.
(Excerpt) Read more at dailymail.co.uk ...
The tax hike goes against President Biden's promise not to raise taxes for Americans making less than $400,000 per year.
According to the American Gas Association, this methane tax alone could result in a 17 percent increase on the average family's natural gas bill.
I am looking forward to Senator Fetterman analyzing future tax legislation and giving critical well structured debate on these issues affecting the average American family
Women and children hardest hit. Glad I don’t have either.
Property taxes will soar based on the increased values...even though you can’t sell your house right now.
Thanks Brandon.
inflation and Brandon’s new taxes …..
Obama lied too about not raising taxes on the lower classes, and he raised them just 16 days into his first term:
https://www.atr.org/full-list-ACA-tax-hikes-a6996/
Because massive government spending always slows inflation?
“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.”
so, will there be a breaking point for the american voter, or will they just continue marching into the ovens in lockstep?
Stagflation, GDP contraction with inflation. Recession. Gas lines. High interest rates. Welcome back Carter.
“will they just continue marching into the ovens in lockstep”
The polite Freepers will make sure to get into the correct line and thank the guards for showing them where to stand.
The demented little biatch in the WHITE House is getting ready to take everyone’s money and give it to the across the border invaders. The bass turd is a cowardly, bottom of the food chain, American-hating Delaware traitor.
My gas bill this December was 25% higher than the same month last year. Lies, lies, and lies. That’s all we get from this administration.
I’m no longer a taxpayer. Our retirement plan was to get completely out of debt, move to a place where the cost of living is low, and live primarily on social security which is pretty high because I was an IT contractor in a tier one market.
In a very real way, I’ve gone Galt. In fact, I named my place Galt’s Knob.
I’ve subscribed to the “starve the beast” strategy.
Sadly, things have to get absurdly bad before people will do anything. People have to get to a “nothing to lose” point. We still got a ways to go. I’ll tell you one thing: I’m done voting. That’s an utter waste of time.
Yep mine too! And that’s for Nov. use. I shudder to think what it will be after these crushing cold temps this past week - for Dec.
“The polite Freepers will make sure to get into the correct line and thank the guards for showing them where to stand.”
While the tough ones fix enverything with angry comments!
While some of us are bound by family and financial obligations, many young people are not (and never will be). Much of the nonsensical warnings about “white extremists” is a shot across the bow to that specific demographic, as they are pushed to the breaking point financially and socially.
All liberals are the same.
You’ll have nothing and be happy
I am not angry at all—just telling the truth, the whole truth and nothing but the truth—and don’t care if any snowflakes are offended.
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.