The Democrats Say Inflation Reduction Act Will Cost $400B
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The Democratic Party was frantically working to pass a bill that would fix the historically high rate of inflation in the United States. However, even socialists like Bernie Sanders agreed that the plan would do nothing to alleviate Biden’s 40-year-high inflation; however, Bernie Sanders still voted in favor of the bill.
The Democrats went so far as to bribe Senator Joe Manchin by promising to build the pipeline he requested in exchange for his backing of this enormous spending plan. Just to turn around and knife him in the back a few months later. In reality, the so-called “Inflation Reduction Act” will make inflation a great deal worse.
It does so while also boosting the amount of money that is collected in taxes. It imposes enormous new fines on significant companies such as the oil and gas industry. The Democrats, however, argued that it wasn’t that big of a deal because, after all, it’ll just set us back $400 billion do you have $400 billion laying around? It turns out that they were completely incorrect.
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Recent research demonstrates that the inflation law proposed by Biden will in fact cost three times as much as Democrats have said it will. This piece of legislation was truly fashioned in the way that environmental activists wanted it to be. Although its stated objective is to solve the problem of climate change, in practice it will only hurt oil firms and drive up the cost of energy. The measure nonetheless allocates trillions of dollars for green technology, despite the imposition of new taxes on oil and everything else.
Because this technology is so terrible, the companies who create it continue to require financial assistance from the government in order to survive. It’s never occurred to me that an oil corporation would ask the government for help in order to avoid going bankrupt. However, this environmentally friendly technology is so pointless that President Biden is willing to sacrifice the futures of our children in order to preserve it.
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In the meantime, the cost of this bill will put entire industries out of business, crush small businesses, and harm every single working American. Oh, and did we mention that it won’t help in any way to bring down inflation? In point of fact, it appears that it will make inflation worse as a result of the continued increase in the cost of everything. It was unethical for Joe Manchin, who is considered a moderate, to vote in favor of this bill. It is imperative that each and every Democrat who participated in its passage be removed from office.
