The Democrats just passed the Bill for All Election Seasons - “The Inflation Reduction Act.”
Thusly named despite the fact that even Vermont Socialist Senator Bernie Sanders knows a bill that spends hundreds of billions of dollars - doesn’t actually reduce inflation.
Reality and math dictating that government spending hundreds of billions of dollars - exacerbates inflation. Because duh.
We are told the bill is a Swiss Army Knife. It’s a near-total panacea - for nigh all that ails us.
That’s three things - none of which is inflation reduction.
It is two things (health care and climate) on which the government will now be spending even more money - which is antithetical to inflation reduction.
And it is a raft of tax increases on working and middle class Americans and US companies - which is antithetical to inflation reduction.
Oh: And the bill’s major tax and regulatory impositions further cripple US companies. Which certainly doesn’t help inflation.
But all of the above - certainly helps the heck out of Communist China.
Because the worse we make it for US companies? The easier it makes it for Chinese companies to undermine US companies with their mass-subsidized stuff.
Let’s peruse this awful bill’s awful contents, shall we?
Inflation Reduction Act Criticized for Raising Taxes, Not Reducing Inflation:
“(A)n analysis by the non-partisan Joint Committee on Taxation (JCT) that shows the legislation would raise taxes. In 2023 alone, the JCT analysis shows that taxpayers earning less than $200,000 would pay $16.7 billion more in taxes, and taxpayers earning less than $500,000 would see a $30.8 billion increase.”
The Inflation Reduction Act Seeks to Raise $749 Billion:
“The bill would impose a 15% minimum tax on corporations….”
Wait - I thought DC fixed healthcare YEARS ago with Obamacare. Why do we still need expanded subsidies for tens of millions of people? Because DC “fixed” healthcare with Obamacare.
That will certainly make living and doing business in the US more enjoyable.
Inflation Reduction Act’s Climate Change Funding Takes Aim at Environmental Inequity:
“About half the new spending - $370 billion - is aimed at climate change: reducing greenhouse-gas emissions in the U.S.”
So we’re going to further cripple our energy sector - and thus our economy - to fight the weather. Which isn’t too far removed from screaming at the sky.
You know who doesn’t give a rat’s posterior about reducing greenhouse-gas emissions? Communist China.
Coal is real energy. So it’s cheap energy.
Real, cheap energy is a huge advantage China companies have over our companies. Because our government increasingly requires our companies to increasingly use fake, expensive energy.
Which makes Chinese products - cheaper than US products. Because math.
Oh: And good luck getting China to join us in our weather idiocy.
To mitigate our decades of domestic idiocy? I have long championed the following - i.e. long before the Democrats piled on the additional idiocy of the “Inflation Reduction Act.”
Trump Trade Principles to Mitigate the Climate Alarmists and Their Many Taxes:
“I now join with Democrats - in general principle and broad strokes - in advocating this….
Democrats Propose Border Tax Based On Carbon Emissions:
“‘Sen. Chris Coons (D-Del.) and Rep. Scott Peters (D-Calif.) announced Monday a new import tax for countries failing to meet U.S. carbon emissions standards….
“‘Goods covered by the proposal include petroleum, coal, aluminum, steel, iron and cement.
“‘The tax would be on par with the environmental fees levied against American companies under state and federal regulations….
“‘“We must ensure that U.S. workers and manufacturers aren’t left behind…” Coons said….’”
Since we joined with the then-ten Democrats on the border carbon tax - many more Democrats have clambered aboard. So too have many Republicans.
Border Carbon Tax: DC Can Do Better - When It Chooses to Do So:
“‘The Bipartisan Climate Solution:
“‘Momentum is building on both sides of the aisle to come up with a measure to penalize imports of high polluting goods, and lawmakers are taking a page out of former President Donald Trump’s book….
“‘“It looks and feels a lot like Trump’s tariffs…’ Sen. Chris Coons (D-Del.) said.
“‘Republicans are eager to tackle competition with China, whose lax environmental standards often mean lower production prices, and create an ‘America-first’ climate policy. “Donald Trump should love it,” (Republican) Sen. Kevin Cramer said.’”
We’ve even picked up members of the near-totally-useless fake conservative set.
Our government has spent many decades making it harder and harder for US companies.
While China’s government spent those decades making it easier and easier for Chinese companies - to artificially undercut US companies.
Our government’s fake “Inflation Reduction Act” - continues our proud tradition of thoroughly undermining our businesses.
Let’s give them at least a little mitigation of our idiocy.
By imposing a border carbon tax upon Communist China’s coal-fired, slave-labor, mass-subsidized, US-undercutting imports.