Senate passes the Inflation Reduction Act
(media.kotakuinaction2.win)
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Can someone explain to me which part of any of this is supposed to reduce inflation?
No no, wrong reduction. They’re actually making an inflation reduction like reducing wine into a sauce. See if they tax you more than they spend then what’s inflation matter?
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!
They'll never spend within their means no matter what their means are.
And if you have no money, you won't have the means to question them.
We're just fertilizer walking at this point.
Technically the large tax hikes might reduce inflation by crashing the economy. Can't have "too much" money when nobody has money.
Also $80 billion to double the number of tax audits because apparently the libs didn't learn how the American people hated the IRS with a burning passion. Lighting $80 billion on fire as a way to try to crack down on and harass the rich.
Imagine how fucking stupid the libs have to be, when this is the last bill they might be able to pass on a party line vote for potentially 10+ years, and what do they waste it on? Hundreds of billions of dollars in additional wind and solar subsidies AFTER wind and solar already dominate new power plant construction to the point where it is causing serious failure points in the grid thanks to a lack of base load plants (such as in Texas).
Fuck Joe Manchin for letting this shit through. Elections matter. Trump caused this bill to pass because he cost Republicans the Georgia special senate elections. Had the Republicans won just 1 of those seats, which they would have but for all the "stolen election" bs causing Rs to stay home, it would have saved our country from something like 7-8 TRILLION in additional wasteful spending these past 2 years.
At least this should be the last of it.
there are people that without a hint of irony think this and imagine themselves savvy political opinion havers. Worse, you get to vote
The problem was Trump complaining SPECIFICALLY about Georgia and including attacks on the Republican secretary of state, right in the middle of a critical special election that the Rs ended up NARROWLY losing because Trump's shit talk caused reduced voter turnout among the base.
People like you are exactly why the Democrats won. You say it was stolen, so that makes Rs not want to bother voting.
The real problem is that Trump just whined about the fraud instead of doing anything about it, such as heads on pikes.
Well yeah, he just wanted Stop the Steal grift bucks. Actually doing shit besides bailing Papa Kush and Israeli spies out of prison carries much more risk.
The Dems were always going to narrowly win those two seats. You don't steal the white house and then not steal the senate.
WTF are you talking about. Trump had the highest voter turnout for any president in history. The Democrats just frauded harder.
Republicans didn't stay home because the election was stolen, which it was. They stayed home because Trump did fuck all about it except anything that might get the problem solved.
There was actually some polling on this, that showed that turnout was depressed the most strongly in the deepest red districts, and the reason for the turnout depression was because the republican voters said that it was pointless since the election was rigged anyway.
Yes, and the solution for that is righteous vengeance for the stolen election, not pretend it never happened and keep people's mouths shut.
The rich?
The Democrat mentality is that taxes only really affect the rich.
Of course the IRS loves to target Republican constituencies like small business owners.
...80 billion to double the number of IRS agents who commit audits.
Let's assume an agent costs 80k, and that you'll be employing them over 10 years. 800k/person. That's probably overpaid from what I understand, but easy math.
10 is 8 million. 10000 is 8 billion. 100,000 is 80 billion.
100,000 auditors.
You don't need an ADDITIONAL 100,000 auditors, to surveil the handful of billionaires and "the rich". That's to police the poor.
That $600 limit is actually why I stopped doing business via PayPal, Cash app, ect and switched to only taking cash for my side hustle.
I tell this to my wife all the time; we're completely average in terms of income and assets, therefore to 50% of the people in the country we are "rich."
They will soak the middle, count on it.
Suburban residents.
You think a "special election" under Raffensperger had anything to do with votes or popular will?
Also: A "waste?" You think it's a Parthian shot to hire tens of thousands of partisan agents "for audits?"
Say...wasn't there news a couple years ago that the IRS was purchasing a bizarrely large amount of ammunition? Gee, I wonder what that was all about.
Yep. I’m still annoyed with Trump about Georgia. I hope Walker can win that seat but we shall see. I’m not against wind and solar but it’s crazy to push those exclusively at the expense of oil and gas and cost people jobs. Also why not build more nuclear plants
Wind and Solar are really over-invested and have been for a while. Nuclear is very under-invested.
Coal is the whipping boy that is getting attacked and driven out of business. The only thing keeping the grid alive for now is the massive amount of natural gas that is needed in order to fill the gaps when solar and wind underperform.
It's just a shitty grid now. We need more base load plants like nuclear or fossil fuels. The libs kept claiming that batteries would fix the situation but batteries can't remotely store enough energy to make any meaningful difference at the scales that are needed. Pumped hydro can do an okay job but the opportunities for it to be built are rare since it needs precise conditions.
if they called it: "great climate change grift bill" it won't have passed.
More inflation is what it looks like. Granted I'm no economic expert but I've read enough Friedman and Sowell to know that this doesn't seem to reduce inflation
Well legally, congress and senate aren’t actually required to read what they vote on. So maybe they just liked the title.
In theory, they wouldn't need to understand the text even if they were required to read their legislation.
Exactly. And nobody is outraged by that. Then again people don’t seem to be outraged about the federal reserve
Both the CBO and PWBM found this bill to have 0 effect on inflation:
Also it is actually going to increase the deficit in the near term, which is all that matters because the Republicans are going to repeal it after 2024:
What the bill does:
extends and expands Obamacare subsidies = $70 billion
subsidies for climate shit = $369 billion
massive tax hikes on corporations = -$260 billion
massive expansion of IRS funding to audit people
I'm not so sure they will. It's damned hard to fire government employees. Those IRS agents may be here to stay.
The usual breed of Republican ain't going to do shit. Time will tell if the new one is also all talk.
good time to be in the green grift. Before the whole country turns into brazil. Gotta be on the right side of the ghetto wall
The left is seriously running this nation into the ground, and I don't say that lightly. With the glacial pace of government, its actually impressive that they've been able to make so many terrible policy changes so fast. I don't remember Democrat congresses in the past ever running things this poorly. Maybe an oldfag can weight in.
Ever since Biden got up on stage with a straight face and said "if everybody wears a mask this will be over soon" I knew this administration would be a disaster. Anyone with half a braincell knows thats not how epidemics work. Even if the masks were effective, the effect would be to make the pandemic longer. Thats literally what "flatten the curve" means. Spread out the curve over a longer time to reduce hospital load. The incompetence is unbearable. /rant
In other words, there is almost nothing to fight inflation and will increase government spending.
"inflation?"
The one nice thing about this is the Democrats didn't do anything about shifting student loan debt to the rest of us so they'll still have something to bitch about.
So is there anything here that will *actually *benefit me?
No This is a bill for Democrat donors.
'Inflation Reduction' is the process they're going use to destroy your savings and impoverish you until you're willing to work while you own nothing, have no privacy, and be 'happy'.
So gasoline for the inflation fire?
Really really expensive gasoline.
What worries me most is that the IRS has access to anyone they want, on their say-so. The most exciting and reassuring thing happening in America right now is the States starting to assert their authority over their territory and in the defense of their own citizen's rights and will. Lo and behold, the Central Authority adds a staggering rank-and-file to their personal Goon Squad who have an expectation of unlimited access, untouchability, and very little accountability.
I have zero doubt that whatever the purported purpose of this expansion, its actual purpose is nut-flexing and tire-kicking. In this new version of civil war, this is the new actual army.
I'm guessing the "green loan guarantees" are a subset of "energy and climate efforts," and that at least part of the "environmental justice initiatives" are a subset of the "green loan guarantees."
Can't have anyone know where the money is actually going.