Ghost of Disco Gary wrote:
Remember, George HW Bush's promise on taxes? "read my lips, no new taxes" Well, here is Brandon's moment- he broke a massive campaign promise here. Take the "L" and move on.
Again, the “Inflation Reduction Act” will:
-Raise taxes on people making more than $30K per year
-Increase inflation for the next two yearsSenate Democrats will vote to raise taxes this week, unless Sinema decides to stop it.
Well...not exactly.
1) Yes, taxes will be raised on all tax brackets EXCEPT those making between $10,000-$20,000 for some reason. Minimal raises in taxes for those under $100,000 per year, but raises nonetheless.
2) This is NOT the plan that Biden ran on (though I couldn't care less really because I don't mind that people need to pay more taxes, and I take it as a given that what ANY politician says on the campaign trail won't be exactly how things are...they can't control how things will be or negotiated). I do recognize that this is fodder for the right though, and I'm ok with it that it is.
3) No, the plan will not increase inflation and in fact it will not affect inflation one way or the other. So, the name of the Act is just BS, but it will not raise inflation one iota. It also will not lower inflation. Inflation has WAY too many other factors that affect it, and this little Act will do NOTHING there.