Enemy of the Middle-Class…IRA

It’s not your retirement account (IRA) that’s the enemy of the middle class.

But it’s the Inflation Reduction Act that’s driving another nail in the coffin of the middle class.

You don’t need to be a rocket scientist to see how creating   an additional $700,000,000,000 of debt (out of thin air) for American taxpayers will NOT reduce inflation.

Why?

Inflation is caused by reckless and unaccounted for government spending.

READ:  The Enemy Within  November 13, 2020

And our TRILLIONS of national debt – $5 Trillion under O’Biden alone – is mathematically impossible to be paid.

So, would someone PLEASE explain to me how adding another ¾ of a Trillion in debt can help us?

Crickets.

And how in the world does it help small businesses?

Independent analysis shows that this new bill will actually harm small and medium businesses.

James Lucier, managing director of Washington-based policy research firm Capital Alpha, told The Post:

“Most small businesses are organized as pass-through entities — LLCs and S Corps. Proponents of increased auditing specifically say they want to target pass-through entities, which inherently means targeting small business and small business owners.”

Unlike large corporations – who have many lawyers to counter new legislation – most small business won’t be able to fight back.

Liberal Policies Are the Enemy of the Middle-Class

In case you didn’t know it, not one Republican voted for the Inflation Reduction Act.

And, as usual, the wolf in sheep’s clothing here is the Democrat party.

So, who besides government benefits from this new tax monster?

And here’s another rub.

The bill effectively pays for “Climate Change” controls and allows the automobile companies to profit.

Huh?

Are you ready for this?

The Boyz slipped in a $7,500 tax credit for those who can afford an electric vehicle (EV).

So, what did the auto companies do?

Ford and GM simply raised the prices on their EV to match or exceed the tax credit.

Those poor billionaires will be outnumbered by a rate of 142 – 1.

Sarcasm aside, history has proven that the 87,000 new IRS agents will be coming after the Middle Class.

Putting lipstick on this pig won’t reverse the damage it’s going to inflict on us.

So, when will enough be enough?

As usual, the markets will tell the story.

Prepare for the markets inevitable reaction by reading (THIS).

And share this with a friend…especially if they don’t know who is the real enemy of the middle-class.

They’ll thank YOU later.

We’re Not Just About Finance.

But we use finance to give you hope.

FYI.

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