the staff of the Ridgewood blog
Ridgewood NJ, around Labor Day Joe Biden is going to barnstorm his way across the country to celebrate the $750 billion Inflation Reduction Act. According to the latest NBC poll: 71% of Americans believe the “Inflation Reduction Act” will either make things worse for them or not make any difference.
The Tax Foundation pointed out the Inflation Reduction Act (IRA), successor to the House-passed Build Back Better Act of late 2021, has been touted by President Biden to, among other things, help reduce the country’s crippling inflation. Using the Tax Foundation’s General Equilibrium Model, we estimate that the Inflation Reduction Act would reduce long-run economic output by about 0.2 percent and eliminate about 29,000 full-time equivalent jobs in the United States. It would also reduce average after-tax incomes for taxpayers across every income quintile over the long run.
By reducing long-run economic growth, this bill may actually worsen inflation by constraining the productive capacity of the economy.
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“Americans Not Buying Inflation Reduction Act”
Americans don’t have to “buy” it…
Their money is being stolen from them to pay for it
and they are getting it shoved down their throats.
Next is the student loan garbage.
But this is what they wanted.
$80 BILLION going to the IRS to enforce audits in this Inflation Reduction Act. And you’re paying for it.
They want more of your hard earned money and will audit the hell out of you to pony up.