Inflation Reduction Act = More Taxes for YOU

On January 1^st our government initiated more taxes for you.

But they think you’re too stupid to notice.

Cue up:  The Inflation Reduction Act.

In this new egregious act, the Boyz in DC want you to believe that they only raised taxes on “greedy” corporations, or on the “evil” oil, gas, and coal industries.

And that these taxes will in NO WAY affect regular, working people.

LMAO!

On the surface it all sounds great.

But rest assured you’ll be paying for all of these taxes out of your own pocket.

And that’s because taxes – like, you know what – always rolls downhill.

Why?

The burden of additional taxation falls onto the owners of the business… and then onto the consumers who buy its products.

Last time I checked those are all human beings.

So, remember when you hear “Taxes are going up on evil corporations,” it’s a cover for screwing the consumer.

Even More Taxes for YOU

The morons in DC never tire of inventing new ways to raise taxes and blow your money on the most idiotic things imaginable.

For example, the 4,000 page spending bill – which Congress rammed through without reading last week – set aside $3 million for a “universal hip-hop museum” in New York City, $1.5 million for the “COVID-19 American history project”, and $3+ million for a hiking trail in Georgia to be named after Michelle Obama.

And one of my favorites and the most absurd wastes is the $2.3 million allocated to the US Department of Education “to conduct outreach to borrowers of [student] loans. . . who may qualify for loan cancellation.”

So, In Plain English, the government is spending taxpayer funds to encourage borrowers to default on taxpayer-funded student loans.

That’s like a bank CEO using his shareholders’ money to encourage borrowers to default on their bank loans.

In other words, “You just can’t make this stuff up.”

Ironically (or NOT) the reality is that these new taxes will actually contribute to inflation.

And that’s because of what the Inflation Reduction Act does NOT do: 

1. The law does NOT increase the size of the economy
2. The law does NOT produce more goods and services
3. And the law does NOT create more businesses

Raising Taxes

All it does is raise taxes and give the government a larger chunk of the economy.

And once government gets more control, they won’t give it back.

Rest assured this will add to the increasing loss of confidence in government.

Which in turn brings the Political Chaos of 2023 to the front and center of attention.

So, instead of worrying about it, learn how to prosper AND thrive in these Turbulent Times every month by reading our “…In Plain English” newsletter (HERE).

Share this with a friend…especially if they’re clueless about how much their taxes are going up.

They’ll thank YOU later.

Remember: We’re Not Just About Finance

But we use finance to give you hope.

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