The Democrats are masters of misnaming the intended purpose of bills they offer up to disguise what is really happening. It is indicative of how gullible they believe we are. The Inflation Reduction Act of 2022 will do nothing of the such. The main reason is that revenues will not be achieved to offset the expenditures.
This column has a ban on using definitive terminology. I do not use words like Never, Always or Every. That is because those terms are rarely applicable. However here is a truism. Whenever there is a projection of revenues that will be produced from a new tax increase, they never come to fruition. Here is another truism. Whenever there is a reduction of tax rates, they always produce increased governmental revenues. I know this because I have both studied and written about it for over 40 years.
This ridiculously named bill has a few major elements of the supposed increase in revenue. Please do not believe the eventual scoring by the Congressional Budget Office (CBO). The CBO is rarely correct because they do their scoring based on whatever… Read More