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“Inflation Reduction Act” – Pure Gibberish

Posted on Monday, August 8, 2022
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by AMAC, Robert B. Charles
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105 Comments
Inflation

There’s a difference between “putting lipstick on a pig” – and calling the pig Marilyn Monroe. The Democrat’s “Inflation Reduction Act” is actually an “Inflation Acceleration Act.” If anyone doubted whether audacity lives, it does. This is pure gibberish, worst bill since Obamacare.

What does this “kill Peter to bribe Paul” bill do? In the name of buying votes, stoking class warfare, and changing the climate, it brutally damages the US economy, eroding buying power for all Americans with higher corporate taxes and spending – for which there is no money, pushing up inflation. It raises taxes on businesses, syphoning precious dollars from growth.

Four facts say it all.

First, the bill’s contents are not benign, they are objectionable. The bill raises taxes in a recession, opposite of what 230 non-partisan economists recommended. Response: “They’re wrong.”

Understand when new taxes hit big employers struggling with energy costs twice what they were 18 months ago, the effect is to suffocate hiring, trigger layoffs. Labor is the highest cost, followed by capital – beginning with energy. Best way to kill an economy is raise energy costs and taxes, triggering cuts.

Not only does this bill slow growth and accelerate unemployment but think…How you do you survive if you run a business? If you must pay the government more, how? You cut labor, then pass higher taxes to consumers with higher prices. Does that reduce inflation? Raise consumption? Help or hurt?

Does a bill that spends money we do not have on things we do not want, giving away money that gets cheaper from this new overspending – make any sense? Even if the idea is to buy votes, who pays? You.

Does a bill that raises prices, unemployment, consumer fear, business uncertainty, reducing stock and pension values, while suggesting higher taxes pay the bill make sense – especially when it further hurts, and raises prices for, fossil fuels?

Remember, fossil fuels power 60 percent of our power grid – which then powers those clean, convenient electric cars. Hint: Do not believe all you hear from politicians. Electric cars run on electricity, which seems nifty, but it comes from fossil fuels – and milk comes from cows not cartons.

Second point. This pro-inflation bill, marketed as anti-inflation, does substantive damage to the economy in other ways. Because it raises federal spending, cost of living, unemployment and fear, the Federal Reserve will feel compelled to further raise interest rates – to control new inflation.

That will raise the cost of borrowing, slowing home sales, making credit cards and mortgages pricey, and that raises interest on the $30 trillion dollars in federal debt. In just seven years, interest on the federal debt will top a trillion dollars – for which we get absolutely nothing, but core inflation.

Inflation is already 9.1 percent – a stunning 40-year high, driven by three trillion in new spending sine Biden took office. Overspending, higher taxes, expensive energy, high interest prolong recession. Another lie in the bill is that taxes pay for this one-year splurge – no, only in ten years. 

Third, what this bill triggers is prolonged reduction in consumer confidence, a continued drop in real wages, down 5.6 percent in Biden’s term, and a figurative race to the bottom as we get a new version of Jimmy Carter’s “stagflation,” slow growth, high inflation, unemployment and interest rates.

Fourth, all this makes Jimmy Carter shine. Even Carter realized beating inflation meant cutting federal spending – the reverse.  He realized too late, acted too slowly, heard Reagan coming.

In 1978, dogged by inflation, Carter promised to “hold down government spending, reduce the budget deficit, and eliminate government waste,” cut federal programs, hiring, and workforce, open the economy up with less regulation. He could not do it but knew what was missing.

So, what can average Americans do – seeing this reckless disregard for truth, economics, and the public will? How do we stop and reverse this federal folly, fumbling and mumbling by self-satisfied, largely wealthy, out of touch, misguided national leaders?  

Even those who count themselves Democrats need to speak truth here, not buy into hogwash. This is our economy, country, dollar, jobs, and future. Truth matters. The “Inflation Reduction Act” is pure gibberish.  It promotes inflation. All the lipstick in the world does not make this pig into Marilyn Monroe, not make this bad bill good, not beautify this utter nonsense.

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Boz
Boz
1 year ago

FYI, it is SOP (standard operating procedure) for Dems to name bills the EXACT OPPOSITE of what the intended consequences will be (e.g. The “Affordable” Care Act). LOL!

Rodney Ernst
Rodney Ernst
1 year ago

As usual, all the warning signs mentioned to these people fall on deaf ears. Just cram our left wing agenda down our throats weather we like it or not. Washington is so out of touch with America. We better have a smart mid term election, or we are finished as a Republic.

George Morgan
George Morgan
1 year ago

Too Late ! We are just Pawns in this Chess Game with our Future. Vote Republican , it’s your ONLY Hope!

Legally present
Legally present
1 year ago

Bernie said it was inflationary, but STILL voted for it, Manchin proved anyone can be bought off, influenced by Bill Gates and other rich dudes. Here are the DIRTY DOZEN plus 1 that voted for this debacle and are up for re-election in November. Patty Murray, Ron Wyden, Alex Padilla, Catherine Cortez Masto, Mark Kelly, Michale Bennet, Tammy Duckworth, Raphael Warnock, Chris Van Hollan, Chuck Schumer, Richard Blumenthal, Maggie Hassan, and the plus one, Patrick Leahy, not running. VOTE THEM ALL OUT.

PaulE
PaulE
1 year ago

The discussion is over at this point. The Democrats, America’s Socialist Party not even bothering to pretend they are anything other than the Marxists they are, are just a final vote away in the House from enacting more transformative policies. Wringing our hands and nashing our teeth on our side will accomplish nothing. Once again, the Democrats have pushed through yet another massive spending bill, that contains NOTHING worth the hundreds of billions added to our deficit and stoking even more inflation. Yet another economy and freedom killing piece of legislation courtesy of the American Socialist Party.

The biggest winner from this bill is the CCP. China will benefit immensely from this legislation, as it forces the United States down an economic and societal path of buying more and more “green products” (solar panels, wind turbines, lithium batteries, etc., along with buying all the raw materials essential for creating a “green future” from the country that already controls 75 to 90 percent of all those sectors of the market). Yet another unforced error on the part of our so-called elected representatives, that will result, over the next 10 years, in the transfer of tens of trillions of dollars from the United States economy to China. We will become even weaker as a nation, while China becomes much, much stronger. A more appropriate name for this bill would have been “The United States Surrender to China Bill”.

By the way, I watched the various congressional Republicans doing the rounds on TV this weekend to talk about this bill and the general direction the Democrats are pushing this country towards. The most charitable adjectives I can use here are pathetic, half-hearted, and uninspiring. Half did nothing more than simply repeat the same canned talking points they have been using for several months now. When given a national opportunity to enlighten the ignorant public on these important issues, while appearing on these weekend shows, the Republicans continue to either pull their punches or default to saying essentially nothing of substance.

Moses
Moses
1 year ago

A few weeks ago I saw for the first time this saying. It does not matter who votes, it matters who counts the votes. I think we have seen enough to realize this is the truest statement any of us have seen in the 21st century. Democrats have always thought they are smarter than republicans. They will lie, cheat, steal, turn their backs on God, and literally anything else it takes to control the country. Including this fake climate change story really just used to get their cronies more money from the tax payer. We are in real trouble here.

A Voter
A Voter
1 year ago

It is the same policy democrats always push. It is the only policy democrats push. It is the only policy democrats have. Tax and spend then tell us how great they are. Stupid is doing the same thing over and over the exact same way expecting different results. How many stupid Americans contnue to vote for Democats expecting different results?

John Riley
John Riley
1 year ago

This will weaponize the IRS against you. Remember the IRS can freeze your accounts until their inquiries are satisfied. They have already weaponized the DOJ This bill is one more step in making this country a 3rd world s**t hole.

Myrna Wade
Myrna Wade
1 year ago

It took them a long time to come up with a name for the bill which was attractive because it was the opposite of the provisions in the bill. Then the lines describing the content were also so creative. I appreciate the application of the title “Lipstick on a Pig.” It is appropriate and exactly the rallying cry needed.

Rik
Rik
1 year ago

It’s really the Inflation Inducement Act because it induces Inflation to INCREASE and especially on Middle Class Americans! And what is it, 87 thousand of “new” IRS agents to be hired? And we are told they’re to help collect from the people who make over $400 thousand / year! You mean that America has 87 thousand people who make over $400 thousand/ year? BALONEY! . . . AMERICA IS SUFFERING FROM AN INFESTATION OF “DONKEY POX” which is led by this Democratic Party Socialist/Communist Leadership Policies!!!

James Charles
James Charles
1 year ago

Chucky is about to reap the whirlwind come Nov.

Robert Schultz
Robert Schultz
1 year ago

The Democrats are putting lipstick on the Pig’s rear end and calling it beautiful. Their faithful followers will agree with them that it is. That’s how bad it has gotten. The Democrats have amassed the most gullible followers using every trick in their book, from Antifa, BLM, CRT, to socialism. Anything to divide and conquer half of the nation by threatening violence on the other half of civilized, God fearing, and law respecting US patriots. When we are threatened naturally we all want to protect ourselves they keep us from doing so by constantly taking away out 1st and 2nd amendment rights. Biden is a weak ineffective leader. The Russians, China, North Korea, and Iran all know it. We are not in good shape as a nation. I prey to God we win the coming elections and take back control from these misfits.

Jeb
Jeb
1 year ago

To anyone in favor of this massive spending and believers in how wonderful it will be let’s talk in 6 months and 1 year. Until then watch your bank account…

CoNMTX
CoNMTX
1 year ago

So it’s pure gibberish. In other words, it’s just like all conversation from the demo/globalists. Gibberish and lies.

Tmac
Tmac
1 year ago

Just another way to control us! Typical demonrats strategy, reward failure, punish achievement!

William C Smith
William C Smith
1 year ago

The biggest fools in this nation are not the politicians, but the people who voted for them and placed them into high public offices. They don’t represent you, they use you to achieve their personal and collectivist goals. Time to clean house…again.

james michalicek
james michalicek
1 year ago

The honest Democrats just named the Bill wrong. Instead of ” Inflation Reduction Act” this Bill should have been named the “Inflation Elimination Bill For the Family to Save the Children of Hard Working Americans.”

Neal Valenta
Neal Valenta
1 year ago

How can this Bill pass in Congress. Drain the swamp is what needs to happen. Term Limits are a must to limit our Politicians who go to Washington for 30 years.

David Millikan
David Millikan
1 year ago

Instead of 87,000 Border Patrol Agents going after ILLEGAL ALIEN TERRORIST INVASION we’ll have 87,000 IRS STASI Agents armed with ASSAULT WEAPONS coming after AMERICANS.
PURE FASCISM, AMERICA.
Get ready to live in the United States of COMMUNIST China and VENEZUELA.
NO FREEDOMS, NO MONEY, NO ENERGY, NO FOOD, NO MEDICINE, NO JOBS, NO FUEL, NO FARMERS, NO HOME.
Orwell 1984 in FULL FORCE with DICTATOR Beijing biden and FASCIST liberals with Foreign Agents running and DESTROYING YOUR COUNTRY.
So AMERICA, what are YOU going to do about it?
Remember, not only your lives and livelihoods are on the line but your children and grandchildren lives are at stake too.
What kind of Future will they have?
Will OUR Future be of GOD Fearing AMERICANS with FREEDOM and PROSPERITY with STRONG MILITARY and SECURED BORDERS, or will it be COMMUNISM and living in the FANTASY WORLD of FASCIST liberals?
Time is up AMERICA.
DECIDE.
NO MORE SITTING ON SIDELINES.

Michael J
Michael J
1 year ago

The problem with evil senile politicians is they think they’re going to be around forever. Spending money we don’t have is the reason our money is becoming worthless.

Art
Art
1 year ago

These IDIOTS spent how much time debating a leaky condom???????????????????????????????????? SORRY SOME OF YOU MAY NOT GET THE JOKE.
The programmed end was the the “Cackling VP” ,after her dinner break and foot massage,coming back to break a “tie” that was REALLY NOTthere all along. THE USEFUL IDIOTS STRIKE AGAIN. The idiots passing this type of garbage will be long gone when the impact hits our kids and grand kids. WHERE ARE or will they be? Collecting hundreds of thousands of tax paid benefits. WOW— AREN’T WE BLESSED????????????????????

JEFF JONES
JEFF JONES
1 year ago

Save the U.S.A. ….. arrest all demonrats for treason and murder!!!

Patriot Will
Patriot Will
1 year ago

Wasting almost a billion dollars to put more stress on an already over-stressed economy is a sure lose-lose strategy. Leave it to the corrupt media propaganda machine and the destructive Democrats to pretend that raising taxes and destroying businesses will help with our hybrid inflation-recession. The Republicans should be able to use this horrible situation to gain extra seats in both the House and Senate. Can they do it?!

Jannine
Jannine
1 year ago

This administration is a ship of fools with satan’s minions stowed away in the bottom of the ship. Fools if they really believe they are helping inflation and satanic minions if they know it won’t.

Obie Kinney
Obie Kinney
1 year ago

Please explain why the republicans failed to filibuster this bill. When they were running things, they repeatedly said they needed 60 votes to overcome democrat filibuster threats. But here the democrats have only 50 senate votes, plus one for the VP to break a tie. Yet this outrageous bill passed with no republican filibuster, or even the threat of one.

Doodlebug
Doodlebug
1 year ago

Our son and his family were on the brink of finally making a livable wage from their BBQ restaurant when c v d hit. They managed to keep the doors open but had to cut back to bare bones and very limited employees. Then meat skyrocketed but they held on, things got worse and my son took a full time job to try and keep his dream alive. Now thanks to this horrible bill the final nail has been poised to hammer into their coffin. Walking away isn’t as easy as some folks might think, they still have a year on their lease, they still owe vendors, they have investors that have to be paid. It isn’t for lack of trying and they have been voted best BBQ in the county for 4 years running but you can’t keep raising prices to meet the costs of ever rising meat prices. People’s buying power is shrinking daily and the Ivory Tower dwellers keep telling us “to eat cake”.

Gary
Gary
1 year ago

No matter what name DEMOCRATs attach to their appropriations bills , ALL their legislations is about raising taxes so that the DEMOCRAT party can spread the loot around to their friends all over the country. In other words , DEMOCRAT legislation is ALL about buying votes . Nothing more .

Barb
Barb
1 year ago

Thank you again Mr. Charles for speaking the truth re Inflation Acceleration Act! But WHO can stop it. They are pushing it through. Pray, only God can stop it with our prayers.

Obie
Obie
1 year ago

Why aren’t the republicans filibustering this bill? Do they secretly want it to pass?

Hal
Hal
1 year ago

Just another tactic the politburo Commie DemocRats use to fry to fool the US citizenry that they are responding to a crisis by passing a law that is not worth the paper it is written on. The ship of state is foundering so badly that even moderate DemocRats are starting catch on to leadership crisis this Nation has.

Dr Rene
Dr Rene
1 year ago

Thus is worse, it’s like putting lipstick on China-Joe’s A**.

spitfire?1940
spitfire?1940
1 year ago

Obama “start civil war then we’ll disarm them” Biden to Chuck Schumer ” you heard the man, get started,come up with something that’ll really pass em off”.

tika
tika
1 year ago

dems are the kids who failed at operating a lemonade stand.

Darrell Brasier
Darrell Brasier
1 year ago

You don’t curb inflation by spending any idiot knows better

Duane
Duane
1 year ago

Corruption leads to stupid and stupid is as stupid does! Why are all the wealthy global elite and their hired Kleptocrates in government forcing everybody into solar/electric? Because they have their power and money deeply invested in it. They stand to reap people control and a substantial fortune off of us based on this climate change hoax. This is a MONOPOLY that breaks antitrust laws. Where are the antitrust law suits?? Think about it, the government has the gun to arrest us, if we don’t obey! As a FREE American we should have the CHOICE of MANY different sources of energy at a reasonable price, not just one! We The People Are The Government, Sovereign and Free!

Robert Zuccaro
Robert Zuccaro
1 year ago

Brandon claimed “Zero iflation” last month. By that “logic” I didn’t gain weight last month so that means I have a 0% BFI!

Rik
Rik
1 year ago

The article’s author is correct, it’s REALLY an Inflation Acceleration Act! . . . I’ve really become untrusting of ANY politician, both parties, because I’m tired of being lied to. . . .

Rich
Rich
1 year ago

If these hypocrites can only keep their supporters and many more people fooled a little longer, MAYBE they can pull off another victory in November. Of course that’s what they think. Problem is, Americans are waking up in record numbers. The socialist/democrats are going to experience the outrage of the voting citizens. The WORLD will be watching to look for election fraud. I for one, can’t wait.

Chris
Chris
1 year ago

Chuck Schumer , The reason for TERM LIMITS

Kay
Kay
1 year ago

Schumer is destroying our country and the future benefits of our children. These marxist democrats only know how to tax and destroy us

HDR
HDR
1 year ago

Another pile of lies and garbage designed to make the Democrat swamp rats richer and destroy American families and punish ANYONE who objects, True totalitarian dictator actions!! There is NOT ONE positive shred of help for American families!!

ezed2109
ezed2109
1 year ago

Totally agree – if you try to actually read this piece of crap the vast majority of it is gibberish! We will be feeling the fallout from this for may years. I expressed my concerns to our Congressional Representative (Democrat) and requested that he vote NO!
His response: “Our debt now exceeds $28 trillion, doubling in just the last decade alone. Our debt-to-GDP ratio-measuring the ability of our economy to sustain our debt- is at its second-highest level ever, exceeded only during World War II. 
Even with record low interest rates, gross interest outlays increased 26% over the past decade, and we are spending more on interest than key investments in our future.
I want to cut unnecessary spending and red tape across the board and work toward long-term goals to improve our nation’s fiscal health…” Yet he voted to support this Legislation that will spend more, raise taxes and talk about red tape… it will double the size of the IRS!
We need to change the way Washington does business! Sign the petition or even volunteer.
conventionofstates.com/?ref=53458

Jim
Jim
1 year ago

How do 87,000 new IRS agents and lower insulin prices going to reduce inflation?
That’s roughly 1 agent for every 15 millionaires (gross 1 million+ annual income). I suggest every member of the house and senate be audited annually. Then continue random audits of the citizenry. Or maybe a simplified tax code with no deductions.

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