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[–]Huliver 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (4 children)

The Democrats just raised taxes on everyone. If you thought inflation was nuts now, wait until a few years of high taxes.

[–]iamonlyoneman 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

They didn't raise taxes THAT much. They just printed 80% of the money in circulation out of thin air in the last couple years. That's the real problem here.

[–]NuclearBadger 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

80% sounds too low tbh.

[–]SoCo 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

To elaborate, the reckless Build Back Broker Bill, become 10 times worse and now now renamed the Economic Collapse Double-Inflation Bill....

  • The non-partisan study found it will raises taxes on earners under $400K.{1}

  • Adds tons and tons of taxes to oil and gas....at an obvious bad time and just before winter, when heating becomes necessary for survival.{2}

  • It totally kills innovation in environmental industries, giving an easy regulatory capture to large monopolistic companies and pricing out smaller players.{3}

  • It makes environmentally friendly energy sources much more expensive, by adding wage requirements to every stage starting with construction as well as adding US materials sourcing requirements (batteries, components,etc), which were feigned as "racist" and "nationalistic" when considered under the Trump administration. Yes, these aren't really required per-se, you get a tax benefit for meeting these requirements. Yet no small competition will be able to meet this regulatory cost barrier, and effective regulatory capture. Only big monopolistic players, well positioned ahead of time with insider knowledge, like Polisi's Oil Barron son, chasing clean energy riches, can afford to meet and posture towards in time. They get this huge tax payer handout for doing so and the benefit of no competition, allowing them to pass on regulatory costs and investments to the end customers, with interest.

  • And worse, since the bill is huge and full of pork.

[–]Huliver 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Democrats always hurt the ones they pretend to protect.