Inflation Reduction Act of 2022
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Anonymous
| We’ve hit the peak for inflation. |
Anonymous
Yeah I heard that in April 2022 and October 2021 and July 2021. |
Anonymous
Yeah, I call BS. Inflation will still be near 10 percent. That means everything will be 10 percent more than last year at this time. Even if inflation slips to 5-6 percent, it still means things are still getting more expensive even from this point where they already are so much more expensive! I remember Yellen saying inflation is transitory then admitting she was wrong. She is supposed to be the smartest person in the room. So no, inflation is still out of control and not hit peak yet!!!! |
Anonymous
The screenshot of a headline convinced you? |
Anonymous
No. Many of us knew this was a crappy bill from the get go. |
Anonymous
| So when would this tax increase go into effect? I just did a large Roth conversion a few weeks ago under the assumption of a specific amount of taxes that I will squeak by with enough cash flow to be able to pay in April, and I'm not going to be happy if I now owe more retroactively. |
Anonymous
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Highest tax increase in working Americans in history.
The nonpartisan Joint Committee on Taxation (JCT) estimates the Schumer/Manchin bill will hit Americans in every income bracket, with more than half of the tax increases on people making less than $400,000 per year. https://www.finance.senate.gov/imo/media/doc/jct_distributional_effects_inflation_reduction_act.pdf In 2023, taxes will increase by $16.7 billion on American taxpayers earning less than $200,000—a nearly $17 billion tax targeted solidly at low- and middle-income earners next year, amidst stagflation and a massive recession. By 2031, when the new green energy credits and subsidies provide an even greater benefit to those at higher incomes, those earning below $400,000 are projected to bear as much as two-thirds of the burden of the additional tax revenue collected that year. |
Anonymous
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Wow, what a surprise, the Inflation Reduction Act won't do anything to control inflation and just increase taxes on the middle class:
https://budgetmodel.wharton.upenn.edu/issues/2022/7/29/inflation-reduction-act-preliminary-estimates |
Anonymous
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Let's just call it the "Inflation Production Act of 2022" and be done with it.
Or, we could call it the "Sleight of Hand to Increase Taxation" act of 2022. And, we will refer to it as SH*T for short. |
Anonymous
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I have to say, watching you Republicans scramble to try to message against this bill - and the others - is sort of fun. Have Dems actually figured out good comms and messaging for the first time in decades?!
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Anonymous
| Wharton forecasts that the bill will lead to a slight INCREASE in inflation. All these imbeciles know how to do is spend money to curry favor. |
Anonymous
This. How many legislative wins is this for Biden now: Covid, Infrastructure, Chip Bill . . . And let's just say it, even if this bill solved inflation on the spot, they wouldn't like it. |
Anonymous
Covid? Oh, you mean the "American Recovery Act" which instead of helping us recover, threw us into a recession. And, this bill will make it worse. You can call this a "win" but you will soon find out that you would need to redefine "win" to make that true. Which you probably will since you folks have been working on redefining words since Clinton tried to redefine the word, "is." |
Anonymous
Their definition of peak keeps changing along with "transient" and "recession" |
Anonymous
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