People who are excited by the passing of the "Inflation Reduction Act" are going to no doubt be surprised as they always are when inflation gets much worse. They will of course be susceptible to the usual propaganda that the people that bamboozle us with titles use to point us at their preferred scapegoats. "It wasn't our fault, we learned the moon actually is made of cheese and that made the inflation worse."
To those of you that don't actually understand how inflation works.
When the government prints more money out of thin air that isn't backed by anything other than the government it devalues the existing units of that money.
If you print more money all existing money becomes less valuable.
When the money becomes less valuable it takes MORE money to pay for things.
I've used the example before as follows:
If you have $100 and bottles of water cost $1 you can buy 100 bottles of water.
An example of Inflation would be that they print more money and now bottles of water cost $1.25.
You still have $100 but it can now only buy you 80 bottles of water.
How much money you have does not matter.
What matters is how much you can buy with that money.
The government just passed another 700+ billion dollar bill with a title that plays upon the emotions of fools that keep just reading titles.
Printing 700 billion dollars cannot reduce inflation. It can only create it. BUCKLE UP. Things are about to get way worse.
Now a large amount of that funding went to greatly enlarging the IRS (Internal Revenue Service) including spending millions on ammunition.
How does the IRS produce value that would counter inflation?
They don't. Their job is taking value from the citizens on behalf of the federal government.
The snow jobs, and con-jobs continue...
Buckle up for a weaponized IRS and even worse inflation.
Prepare for the starvation, repossessions, foreclosures, evictions, and death that are certain to follow.
"INFLATION REDUCTION ACT" WOULD MAKE IRS AMONG THE LARGEST AGENCIES IN GOVERNMENT
BREAKING: The Vote Tally Is In For Democrats $740 Billion Spending Plan
Social Credit: This time next year you’ll be living in “China”
Morning Greatness: Senate Dems Pass $740B Tax, Climate, Health Care Bill
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Sadly I can't really contribute to this discussion because I need to read the bill first and secondly really go into why it's contents might end up worsening things. I also need to hear the argument of those who proposed the bill, like why do they think the investment in the IRS and an improvement in tax collection would help inflation, etc.
I'm too lazy to research now but I think your post would have been better if you presented their arguments. I also think I need to read up more on this when I'm not feeling too lazy because who knows, maybe there's a good argument somewhere that makes this move of theirs that seem like bullshit a good move. Might be a brilliant economic stuff.
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You shouldn't need to do much research. You can't fight inflation by printing $740-$780 Billion dollars out of thin air. That is what causes inflation.
Well, @dwinblood, that is what is known to cause inflation, but I'm not only talking about the printing; I'm also talking about other contents of the bill and whatever reasoning they are using. That way I can be in a better position to weigh the entire matter.
You're funny @baah 😅.
Good question! Has any attempt at rationalizing the bill, beyond the title, been made? I haven't seen it yet. Don't worry about being lazy. Those who voted party-line on the bill have you beat!