Estimated a loss of .2% gdp

This post was edited by foxnews on Aug 16 2022 03:40pm

I don't think taxing a few entities can raise 700 billion.

Why do they need all this money anyway? Why can't they simply tell the Federal reserve to stop printing money?

Sauce: https://taxfoundation.org/inflation-reduction-act/

Care to elaborate, don't quite follow your question.



Higher taxes on corporations may raise tax revenue but it certainly doesn't reduce inflation. What actually happens is corporations pass on those tax-increases to their consumers, hence price inflation.

This post was edited by ofthevoid on Aug 16 2022 03:41pm

Because most can't understand what fiat currency is or how our monetary system was destroyed when they removed the gold standard.
You know, the thing that gave money it's value.

This post was edited by sirthom on Aug 16 2022 03:44pm

Inflation is part of the system. There will always be inflation. The whole point is mitigation. It’s not the “no more inflation act.”

Inflation is partially affected by the money supply. Does this bill reduce or increase the money supply?

It's literally called the inflation reduction act. If you are trying to reduce the inflation you take money out of the system, kind of like what the fed is doing right now. Quantitative tightening+ raising of rates so the cost of capital is so expensive that it slows spending.

When we are at 40 year highs in inflation the last thing we should do is spend hundreds of billions more and dub it "inflation reduction".

Prove that inflation is just a normal part of life. That we should simply give up and just learn to live with it.

If it doesn't increase energy production or domestic production it won't reduce a thing.