The IRS is Going to Become Gigantic
The Inflation Reduction Act will make the IRS HUGE
Well we saw this sh!t coming, didn’t we?
What are the biggest takeaways from this inbound disaster?
"We're sitting on the precipice of what could be the most impactful climate legislation of our lifetimes," SunRun CEO Mary Powell told Yahoo Finance Live (video above). "We're really excited about it. We really see it as fundamentally accelerating this customer-led revolution to a much more sustainable, independent, resilient, and affordable energy system for Americans."
If that wasn’t enough, the “Inflation Reduction Act” will actually exacerbate the soaring inflation America is currently suffering by adding hundreds of billions of dollars in new spending on energy, healthcare, and climate change initiatives, according to the Committee for a Responsible Budget.
The bill would, according to Democrats, lower greenhouse gas emissions by 40%, based on 2005 levels, by the end of the decade, which is short of the 50% Biden had originally aimed for.
In terms of new taxes, the bill proposes to raise some $258 billion in new revenue by imposing a 15% minimum tax on companies with more than $1 billion in profits and force companies to follow “generally accepted accounting principles when reporting income to the IRS,” The Hill reports. The bill also imposes a 1% excise tax on stock buybacks, which is estimated to take in some $74 billion in new taxes.
Long story short, we’re going to have to accelerate our hustle if we want to thrive instead of just surviving.
Recent News
-ZeroHedge: Gold Is Going Above $2,500
-Washington Examiner: Chuck Schumer Revels in Inflation Reduction Act's Passage
-HotAir: Lightfoot's Plan to Sue Chicago's Gangs Has Stalled
-Bounding Into Sports: ESPN’s Jalen Rose Wants Mount Rushmore Canceled, Says Mountain “Should be Retired Immediately”
Another Giant Wealth Transfer Is About to Occur- Where Will That Leave You?
The lockdowns showed millions of Americans how quickly your life can go to shit if the government decides you’re unessential. Freedoms were cast aside because of fear. Lives were ruined for “the greater good.”
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A Few Reminders
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