Celebrating a Huge Lie

A tone-deaf President Biden celebrated the misleadingly named ‘Inflation Reduction Act’ on the day rampant inflation increased and stock markets tanked.   This Act’s real purpose was to lavishly fund questionable Green New Deal projects.  Most financial experts advise that it will NOT reduce inflation.   Every Democrat in Congress voted for it.

A huge lie related to implementation will be exposed only AFTER mid-term elections.   While this Act gives no support for overwhelmed and demoralized border agents, it adds 87,000 new IRS agents in coming years, including an estimated 570 for Allegheny and the four surrounding counties.  President Biden repeatedly promised that this Act would not impact households with annual earnings under $400K.  

According to Karl Rove (not a Trump supporter), Treasury Secretary Yellen interpreted Biden’s promise and directed the IRS that ‘audit rates will not rise relative to recent years for households making under $400K’.   According to Rove, this would allow up to 95 percent of additional audits to be on households earning less than $200K and up to 75 percent on households below $75K.  So much for Biden’s $400K promise.

We should all pay our proper taxes, but I object to boldfaced lies that accompany massive wasteful spending packages.     In November, if you vote for Democrat candidates who would keep Chuck Schumer and Nancy Pelosi in congressional leadership positions enacting legislative shams like this, then hopefully you will have an early opportunity to meet one of these new IRS agents.

Larry Schultz