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LAST WEEKEND, the Democrats rushed their Bidenflation scam bill through the Senate, by all accounts, a bill that will shrink the economy, kill thousands of jobs, impose crushing taxes on families and businesses, and it will worsen, rather than reduce, that record inflation that the reckless policies of the Biden administration have brought us. We must not forget, when we vote in November, that by voting for this bill, all Senate Democrats voted to raise taxes on Americans, and this during a recession.
We´re not talking marginal tax increases at all, Biden’s tax increases will increase the tax burden by over half a trillion dollars and come at a time when workers are already struggling to make ends meet. All this because Biden turned a recovery into a recession. The US economy has now contracted for two consecutive quarters, and this constitutes a recession, whether they like or not the widely recognized definition. These Biden tax increases on working-class America further break his promise not to raise taxes on those earning less than $400,000 a year, a commitment he made at least 60 times on the campaign trail.
The misleadingly named “Inflation Reduction Act” will not reduce inflation, let alone the deficit, and this has been established by recognized institutions, ranging from the Congressional Budget Office, which is not partisan, and concluded that the Biden would have a negligible effect on inflation in 2022 and could raise it slightly in 2023, until Moody’s Analytics estimated that the law would have virtually no impact on inflation for years and would only reduce it by 0.33 percent after a decade.
As it is already recurring in the Biden government, everything that is likely to get worse, gets worse. And while Americans get crushed with higher taxes, Biden wants to give the IRS $80 billion for additional audits and an army of 87,000 new agents. This would approximately double the size of the IRS, meaning the agency would have more employees than the Pentagon, the State Department, the FBI, and the Border Patrol combined. This army of new IRS agents would disproportionately target the poorest Americans.
Last year, the IRS audited Americans earning $25,000 a year at five times the rate of other groups and directed more than half of its audits at those earning less than $75,000. A 2019 study found that the five counties with the highest audit rates are predominantly black.
The Bidenflation scam law is full of tax breaks for the wealthy and $386 billion in green energy subsidies and spending, the kind of policies that are already making the electric grid less reliable and energy more expensive. The Democrats’ bill would impose a new $6.5 billion natural gas tax, which an earlier version of the tax said could jeopardize 100,000 jobs and lead to a 17 percent increase in monthly natural gas bills, which will end up costing the average American family about $100 per year.
In addition, it includes a $12 billion tax on crude oil and imported oil, which is ultimately paid for by consumers in the form of higher fuel and energy costs. And as if we needed anything else, it would make oil and gas production on federal land more expensive, raising the royalty rate for US energy producers by between 33 and 50 percent.
However, the Bidenflation scam would give wealthy Americans a $7,500 handout to buy electric vehicles (EVs). Priced at nearly $67,000, the average electric vehicle costs almost as much as the average American household earns in an entire year. This EV tax credit benefits the rich by using money from low-income Americans to encourage wealthy Americans to buy electric vehicles. Nearly 80 percent of electric vehicle tax credits are claimed by Americans earning more than $100,000 a year.
Voters are tired of the tricks and wiles of Joe Biden and the Democrats, and their complete lack of contact with the problems that plague us all in this country, and that they don’t seem to care about. Those voters are seeing this new effort by the Democrats for what it really is: a scam.
Jaime Florez is the Hispanic Communications Director - Republican National Committe. Public Relations, Public Affairs, Communications, and Marketing Executive with extensive experience in politics, international trade, publishing, and mass media // Jaime Florez es Director de Comunicaciones Hispanas - Comité Nacional Republicano. Ejecutivo de Relaciones Públicas, Asuntos Públicos, Comunicaciones y Marketing con amplia experiencia en política, comercio internacional, publicaciones y medios de comunicación.