Tue Aug 9, 2022 – 12:55 pm EDT
(Conservative Treehouse) – Prior to the marginal 50-51 passage of the massive $700 billion Democrat spending bill, they called it the “inflation reduction act;” however, after Senate passage they are now calling it the climate change bill. Funny how that happens.
The bill itself contains absolutely nothing that will lower inflation; in fact, the bill will raise supply-side inflation in direct proportion to the energy production it reduces. To offset the contracted revenue caused by a much smaller economy, the Democrats have doubled the IRS tax army that will enforce personal income tax compliance.
The income tax compliance portion of the bill is very significant on two fronts. First, it literally doubles the size of the IRS, giving them much more power to conduct audits and capture taxes from income earned. As a review of tax audits has shown, the ordinary U.S. taxpayer is the target of this increased enforcement mechanism, not corporate tax review:
“The bill, a product of 18 months of intense wrangling, passed by a margin of 51 to 50 on Sunday with Vice-President Kamala Harris casting the deciding vote. It was previously blocked
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