Inflation Reduction Act

[Shaps]

Just catching on to that? It's a full on grift/payback system set up by the Politicians.

But, dumbasses think their lives will just go on as normal. They don't see what's coming.

[Seran]

CBO says government spending will go up over 100 billion dollars next three years and increases the deficit every year through 2027 https://www.cbo.gov/system/files/202...Act_8-3-22.pdf,

won't reduce inflation https://www.budget.senate.gov/rankin...duce-inflation "Senate Budget Committee Ranking Member Lindsey Graham (R-South Carolina) today released this statement after the Congressional Budget Office (CBO) confirmed the Manchin-Schumer “Inflation Reduction Act” would do nothing to address inflation. "

and doesn't account for the spending https://www.cbo.gov/publication/58366 "CBO’s estimate of H.R. 5376, the Build Back Better Act, as passed by the House of Representatives on November 19, 2021, also did not include an estimate of the spending that would result from enacting a similar provision, section 136701"

It's a complete shell game that will fuck our economy for the coming decade.

CBO expects that the provisions in title I that would increase funding for tax enforcement activities also would increase revenues. However, under guidelines agreed to by
the legislative and executive branches, that change is not included in this cost estimate, although it would be reflected in CBO’s baseline budget projections after the
legislation was enacted. (For more information on those guidelines, see Congressional Budget Office, CBO Explains Budgetary Scorekeeping Guidelines, January 2021,
www.cbo.gov/publication/56507.) CBO estimates that as a result of those increases in outlays, revenues would increase by $204 billion over the 2022-2031 period.

Of course you didn't bother to read the post you linked.

[Neveragain]

Of course you didn't bother to read the post you linked.

The coming interest rate hikes are going to cost 10's of billions of dollars on this bill alone.

This is the dumbest government move possible at a time of high inflation and interest rate hikes. It's literally the opposite of what should be done.

[Seran]

The coming interest rate hikes are going to cost 10's of billions of dollars on this bill alone.

This is the dumbest government move possible at a time of high inflation and interest rate hikes. It's literally the opposite of what should be done.

136 other countries have already signed a deal to set a 15% minimum corporate tax rate for booked earnings, representing 90% of global business. Why wouldn't the United States, with the highest GDP in the world not follow suit when US corporations rathole earnings from US operations into tax advantageous countries? Luxembourg and the Bahamas don't get to set tax policy for the rest of the world as tax havens.

At a time of record corporate earnings, setting a sane tax policy that prevents corporate tax avoidance is exactly the right time to proceed. Instead of using those earnings to do massive stock buybacks, they will have to use cash earnings to pay for capital expenditures to offset tax obligations. A win all the way around for our country.

[Methais]

You know your creativity is absolute bottom tier diarrhea when you have to rely on Ashliana wall of text memes for literally anything at all.

Loser.

[Methais]

136 other countries have already signed a deal to set a 15% minimum corporate tax rate for booked earnings, representing 90% of global business. Why wouldn't the United States, with the highest GDP in the world not follow suit when US corporations rathole earnings from US operations into tax advantageous countries? Luxembourg and the Bahamas don't get to set tax policy for the rest of the world as tax havens.

At a time of record corporate earnings, setting a sane tax policy that prevents corporate tax avoidance is exactly the right time to proceed. Instead of using those earnings to do massive stock buybacks, they will have to use cash earnings to pay for capital expenditures to offset tax obligations. A win all the way around for our country.

That's cute that you think corporations are who will be impacted the most by this.

Since you're unemployed and useless, you think that this won't directly affect you. But for normal working lower/middle class people, that's who's going to get hit the hardest. You're just too stupid to understand anything more complicated than operating a light switch, and you already struggle with that.

[Suppa Hobbit Mage]

Of course you didn't bother to read the post you linked.

Troll says what?

I provided three documents from the non partisan CBO that show in many different ways how it's going to screw the economy and you picked an estimate that I did call out in my very first sentence, and choose to look at the 10 year period and ignore the next three. If you think the bill won't be changed over 10 years... well, why am I bothering responding to a troll.

[Seran]

That's cute that you think corporations are who will be impacted the most by this.

Since you're unemployed and useless, you think that this won't directly affect you. But for normal working lower/middle class people, that's who's going to get hit the hardest. You're just too stupid to understand anything more complicated than operating a light switch, and you already struggle with that.

A worthless post as always, full of incorrect assumptions, half assed insults and vague references to revealing a narrative without committing to something you could be held accountable for. Sad

You /seem/ to be implying that fair taxes is going to result in higher prices, yet clearly don't understand that cost-push inflation isn't absorbed by consumers eager to pay whatever the hell they're charged. Corporations will raise prices, they always raise prices, lower quality or quantity to increase profits, but that will in turn drive consumers to competitors who are more willing to see slightly lower after tax profits to maintain market advantage.

Corporations seeing lower tax bills has never resulted in savings for consumers, just more cash for corporations and a higher tax rate for everyday Americans to fund a voracious federal budget. That dog and pony show Republicans have put on about trickle down economics has been a lie exposed decade after decade. Now it's time corporations pay taxes just like every other person living in a country with a tax system.

[Seran]

I provided three documents from the non partisan CBO that show in many different ways how it's going to screw the economy and you picked an estimate that I did call out in my very first sentence, and choose to look at the 10 year period and ignore the next three. If you think the bill won't be changed over 10 years... well, why am I bothering responding to a troll.

You ignored a line from your own CBO estimate that shows resulting increases of revenue as a result of the legislation. Your point was contradicted by your very own reference, you've only got yourself to blame.

[Suppa Hobbit Mage]

You ignored a line from your own CBO estimate that shows resulting increases of revenue as a result of the legislation. Your point was contradicted by your very own reference, you've only got yourself to blame.

Troll says what?