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A farmer shovels cow manure (Photo: Shutterstock)

The ‘So-Called’ Inflation Reduction Act

Bernie Sanders even admits ‘this bill will have minimum impact on inflation’

By Megan Barth, August 15, 2022 10:00 am

Vulnerable Nevada Democrats have publicly praised the Inflation Reduction Act by claiming that their vote in support of the act will solve a myriad of economic and climate issues. On Friday, the Democratic majority passed the massive $740 billion piece of legislation which will now head to President Biden’s desk for signature.

Prior to the vote, the top Democrat on the tax writing Ways and Means Committee declared that Democrats will raise further taxes on individuals and businesses if they control Congress after the midterms.

As reported by The Globe, Rep. Steven Horsford didn’t pay his fair share of taxes but voted to have “big corporations” pay their fair share of taxes:

Rep. Dina Titus believes that climate change is the largest threat Americans have ever faced. These threats, according to the bill’s language, include bovine burps and manure.

According to the Washington Examiner: “The Democratic climate and healthcare bill includes $25 million to combat enteric emissions produced by cows and farm animals, largely through burps and manure. The $369 billion Inflation Reduction Act announced by Senate Democrats this week includes funding to address “enteric methane emissions from ruminants,” including by finding alternatives to the animals’ diets, according to the text of the bill.”

Rep. Susie Lee repeats her Democratic colleagues’ claims:

Although Nevadans are seeking relief from 14.9 percent inflation, 230 economists claim that the Inflation Reduction Act does nothing to reduce inflation and could even make it worse. The non-partisan Joint Committee on Taxation released new analysis estimating that working families are more likely to be worse off than better off once this bill is signed into law.

Even Socialist Bernie Sanders admitted this:

Inflation may not be reduced, but the IRS will be massively expanded and empowered to target the most vulnerable. American taxpayers will now spend $80 billion to double the size of the IRS, making the IRS larger than the Pentagon, State Department, FBI, and Border Patrol combined. Data also shows working-class Americans are much more likely to be audited, and less than 10 percent of the revenue raised is predicted to come from taxpayers earning more than $500,000.

Contrary to President Biden’s campaign promise, the bill raises the tax burden on Americans making less than $400,000 per year and more than 92% of families with a combined income under $200,000 will receive no benefit or receive a tax hike because of this bill.

America Rising PAC Press Secretary Kristen Bennett told The Globe: “Instead of easing the economic hardship Americans are facing, Steven Horsford, Susie Lee and Dina Titus voted in favor of raising their taxes during a recession. Hardworking families will be worse off as a result of this bill, and if Democrats have their way, this will be their opening salvo in raising taxes.”

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One thought on “The ‘So-Called’ Inflation Reduction Act

  1. Lower energy prices would ease inflation for most products and services. Dairy farms use massive amounts of energy. Feed, cooling, sanitation, etc. Infant formula plants that use milk can have 2 or 3 milk tanker trucks an hour.

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