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Inflation Protection Act is Given the Green Light!
The last hold out got her way for The Hedge Fund lobbyists! If you think The Democrats are working for the People who voted for them,you better think again. It's the golden rule,Those with the gold rule!
serf
That said, she promises to someday crack down on the carried interest loophole she so vehemently fought for.
"Following this effort, I look forward to working with Senator Warner to enact carried interest tax reforms, protecting investments in America’s economy and encouraging continued growth while closing the most egregious loopholes that some abuse to avoid paying taxes," she said, the Journal reports.
Comments
The carried interest stays in while the little people will pay more because the IRS is getting 87 Billion to hire more auditors, per this quote from the JTC:
"The main targets will by necessity be the middle- and upper-middle class because that’s where the money is. The Joint Committee on Taxation, Congress’s official tax scorekeeper, says that from 78% to 90% of the money raised from under-reported income would likely come from those making less than $200,000 a year. Only 4% to 9% would come from those making more than $500,000."
Amazes me how they can sell this POS legislation as an inflation protection act when it clearly is NOT!
It raises corporate taxes considerably. Oil companies alone will pay a whopping 25 Billion a year in new taxes. Of course smart people on these forums know the tax will trickle down to us.
The only POTUS and congress I can remember dumb enough to raise taxes during a recession happened during the error of the Georgia peanut farmer.
DEMOCRATs with help from their lying coconspirators in the media are on a fast pace to destroy the middle class.
Will I have to sell my bread to pay the bill
I doubt you will have to sell your bread to pay bills, more than likely they will want you to sell your soul to buy bread.
A days work for one meal may be in the deck of cards one day.Better get use to being on a low protein diet like it or not.
serf
Is anybody really surprised by any of this?
No, only DEMOCRATs are #$% enough bring about more of the same legislation that led to inflation in the first place.
The mere fact these DEMOCRATs call it the inflation reduction act illustrates the contempt and insulting attitude they have towards us.
Toss in bias corporate media as well as they are praising both congress and Biden for this signature legislation.
If those agents make 60k a yr my math says it around 5.2 billion dollars salary.
How do you funnel federal tax dollars to the unions ? You can’t just give it to them, you hire a bunch of federal employees and let them be union jobs.
Never understood why federal jobs are union. Now if each employee pays $100 dollars a month, or $1200 dollars a year unions dues, that’s $103,200,000 a year to the unions. That’s how Obama gave money to the unions, remember the shovel ready jobs that turned out not to be so shovel ready. All those that were waiting around to start work had to join a union and pay dues.