The Inflation Reduction Act: More government spending to fuel inflation and more taxes

What a deceptive name for a law that is in essence more government spending on the Green New Deal and a massive hike in government revenues. 

More enormous government spending and tax increases in times of price inflation and recession are exactly the wrong measures. Less spending and tax reductions are called for!   

Unfortunately, the Heritage Foundation repeats this nonsense of additional 87,000 IRS agents (I blogged here about it)

The we have the presumed government revenue increases (Source):

Thus, the bill contains at least an estimated $420b in tax increases. Most of these estimates are probably way too optimistic as usual. These massive tax increases will affect all citizens!

That the U.S. agreed to this global 15% corporate minimum tax promoted by the OECD is another story of big government greed and global order nonsense!

More government subsidies for electric cars is an insult to all Americans struggling with the price inflation! In good times, this is perhaps tolerable!