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Senate passes “Inflation Reduction Act” - $430B and mostly climate change spending
Posted on 8/7/22 at 6:34 pm
Posted on 8/7/22 at 6:34 pm
LINK
Imagine that govt spending is one of the primary drivers of inflation along with supply chain issues created by govt closures, and the ignorant Dems pass a bill on party lines to increase inflation and blatantly title it “Inflation Reduction”. Yes this belongs on the money board, bc this is going to directly boost inflation if it goes through the House. Absolute ignorance or hubris even from all levels of our democracy, as the President pushed this to be even bigger and the VP voted for it to pass it
Imagine that govt spending is one of the primary drivers of inflation along with supply chain issues created by govt closures, and the ignorant Dems pass a bill on party lines to increase inflation and blatantly title it “Inflation Reduction”. Yes this belongs on the money board, bc this is going to directly boost inflation if it goes through the House. Absolute ignorance or hubris even from all levels of our democracy, as the President pushed this to be even bigger and the VP voted for it to pass it
10
Posted on 8/7/22 at 6:59 pm to Upperdecker
They don’t give a shite, this was their last chance to get something through. Will be a stalemate after Nov and until 2024, possibly a stalemate even then.
Now us servant citizens just sit and take it.
Question is how markets react? Would imagine this certainly locks in another .75 rate hike in a few weeks.
Now us servant citizens just sit and take it.
Question is how markets react? Would imagine this certainly locks in another .75 rate hike in a few weeks.
This post was edited on 8/7/22 at 7:05 pm
Posted on 8/7/22 at 7:21 pm to Upperdecker
Imagine anything green energy related will get a boost. EV, EV charging ,Solar, lithium etc..
This post was edited on 8/7/22 at 7:27 pm
Posted on 8/7/22 at 7:53 pm to FLObserver
I tried reading and did not find anything about Inflation. It is all about green energy and medicare prescription limit
Posted on 8/7/22 at 8:21 pm to glorymanutdtiger
quote:
tried reading and did not find anything about Inflation
Because Americans are stupid
Eta: meaning most will read the headline and believe it
This post was edited on 8/7/22 at 8:22 pm
Posted on 8/7/22 at 8:23 pm to glorymanutdtiger
(no message)
This post was edited on 1/6/23 at 9:40 pm
Posted on 8/7/22 at 9:36 pm to glorymanutdtiger
quote:
I tried reading and did not find anything about Inflation. It is all about green energy and medicare prescription
I read a vox article that said 15% corporate minimum tax would help tackle inflation
Posted on 8/7/22 at 10:20 pm to Upperdecker
We had an executive order from Trump to help lower prescriptions but Biden canceled it
Posted on 8/8/22 at 4:43 am to glorymanutdtiger
quote:
I tried reading and did not find anything about Inflation. It is all about green energy and medicare prescription limit
This bill is like propaganda. Pass a bunch of shite that nobody wants that the Dems have been itching for while knowing it will increase inflation. Then slap a label “Inflation reduction act” on there since most Americans will just see the headline and think the Dems passed something to reduce inflation and that all the GOP opposed
Posted on 8/8/22 at 5:38 am to Upperdecker
It's a genius move by the Dems, it proves that they know their base is composed of a bunch of idiots. Get everything they what while the bill does the opposite of what it is titled but their followers praise them blindly.
Posted on 8/8/22 at 5:45 am to Upperdecker
It gives up to $6.5k for lower income families to change their hot water heater, stove, and home heater from natural gas to electric. Not to mention the discount for electric cars and solar panels.
This is hundreds of billions of dollars of the next decades. Guess who pays for it?
And all the companies will do is increase the price of those products by the amount of the stipend since Uncle Sam is footing the bill.
This is hundreds of billions of dollars of the next decades. Guess who pays for it?
And all the companies will do is increase the price of those products by the amount of the stipend since Uncle Sam is footing the bill.
Posted on 8/8/22 at 6:00 am to Sgt_Lincoln_Osiris
quote:
gives up to $6.5k for lower income families to change their hot water heater, stove, and home heater from natural gas to electric.
So theyll burn coal and natural gas and have to transfer it across the grid less efficiently then use one if the most inefficient hear creation methods known to man.
Sounds like the government.
Posted on 8/8/22 at 6:51 am to Sgt_Lincoln_Osiris
quote:
change their hot water heater, stove, and home heater from natural gas to electric
I'm not a biologist, but isn't that less efficient?
Posted on 8/8/22 at 7:00 am to Upperdecker
This, and it’s infuriating. And very little media calling them out. Even the federal reserve should be calling them out as it is counterproductive. But they won’t.
Posted on 8/8/22 at 7:27 am to RougeDawg
quote:
I'm not a biologist, but isn't that less efficient?
There is a huge movement in big, leftist run cities to minimize/eliminate gas stoves, supposedly because of emissions.
I'll tell you what, when we lost power for 2 days during the hard freeze in Texas, I was damn happy to have gas hot water tanks and a gas stove to reheat gumbo and soup from the freezer to keep our bellies warm.
This post was edited on 8/8/22 at 7:46 am
Posted on 8/8/22 at 7:36 am to ragincajun03
quote:
I'll tell you what, when we lost power for 2 days during the hard freeze in Texas, I was damn happy to have gas hot water tanks and a gas stove to reheat gumbo and soup from the freezer to keep our bellies warm
Its not an exaggeration to say that our government really wishes you had just died.
Posted on 8/8/22 at 8:50 am to ragincajun03
quote:
There is a huge movement in big, leftist run cities to minimize/eliminate gas stoves, supposedly because of emissions.
Meanwhile, natural gas (CH4) is the cleanest fuel we have and Europe just declared it "green" energy.
Posted on 8/8/22 at 8:58 am to Upperdecker
Democrats don't care about the American citizen, even their own voting block because they know nothing will prevent them from getting voted for by them.
Republicans only care slightly more, it's somewhat hard to tell, and that is sad.
Neither party cares about the middle class working taxpayer who will continue to get saddled with higher taxes, higher costs, and is too busy to complain about it.
Republicans only care slightly more, it's somewhat hard to tell, and that is sad.
Neither party cares about the middle class working taxpayer who will continue to get saddled with higher taxes, higher costs, and is too busy to complain about it.
Posted on 8/8/22 at 10:32 am to ragincajun03
quote:
There is a huge movement in big, leftist run cities to minimize/eliminate gas stoves, supposedly because of emissions.
Here in NYC "all electric" is an cost horror. I know people with all electric apartments and in the winter it is very expensive even for a one bedroom place that is kept minimally warm.
Posted on 8/8/22 at 10:38 am to Upperdecker
I feel like an idiot keeping money in cash when I should be putting my money in real stores of value. How are your funko pops holding up against inflation?
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