Parky60 Loc: People's Republic of Illinois

The recent passing of the Inflation Reduction Act – successor to the Build Back Better Act – and its signing into law by President Biden, is arguably the most sweeping climate legislation to date. Of the nearly $800 billion to be raised in order to fund various federal programs, $369 billion is earmarked to achieve climate and sustainable development goals – including $27 billion allocated to greenhouse gas reduction, along with the creation of a National Green Bank to fund energy t***sition projects. New tax incentives, new taxation actions, and what will become price controls are part of the Inflation Reduction package. Also included is a huge sum to fund the hiring of an additional 87 thousand IRS agents.

But will this substantial bill actually reduce inflation, which is first-and-foremost the result of monetary increases and not about climate?

According to an Oxford economist quoted in an August 23rd Yahoo Finance article on the Inflation Reduction Act, “despite its name, [it] will have no measurable impact on inflation.” Or maybe it will: As one layperson noted in a Twitter post, “The Inflation Reduction Act will be highly inflationary. In these days of mass propaganda, the opposite of what our leaders say is the t***h.”

son of witless

Thanks Joe V**ers.