{"id":1603517,"date":"2022-08-12T14:32:16","date_gmt":"2022-08-12T18:32:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1603517"},"modified":"2022-08-12T14:34:59","modified_gmt":"2022-08-12T18:34:59","slug":"analysis-finds-3-terrible-economic-consequences-from-so-called-inflation-reduction-act","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-finds-3-terrible-economic-consequences-from-so-called-inflation-reduction-act\/","title":{"rendered":"Analysis Finds 3 Terrible Economic Consequences From So-Called Inflation Reduction Act"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" 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href=\"https:\/\/www.based-politics.com\/2022\/08\/12\/dems-inflation-reduction-plan-will-have-these-3-terrible-economic-consequences-new-analysis-finds\/#\" aria-label=\"Back\" class=\"td-back-button\"><i class=\"td-icon-read-down\"><\/i><\/a><\/p>\n<p>Password recovery<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"td-outer-wrap\" class=\"td-theme-wrap\">\n<div id=\"tdb-autoload-article\" data-autoload=\"off\" data-autoload-org-post-id=\"5096\" data-autoload-type=\"\" data-autoload-count=\"5\">\n<div class=\"td-main-content-wrap td-container-wrap\">\n<div class=\"tdc-content-wrap\">\n<article id=\"template-id-2817\" class=\"post-2817 tdb_templates type-tdb_templates status-publish post\" itemscope itemtype=\"https:\/\/schema.org\/Article\">\n<div id=\"tdi_69\" class=\"tdc-zone\">\n<div class=\"tdc_zone tdi_70  wpb_row td-pb-row\">\n<div id=\"tdi_71\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_72  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_74  wpb_column vc_column_container tdc-column td-pb-span12\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_subtitle tdi_76 td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_76\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>The American people deserve better.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"tdi_78\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_79  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_81  wpb_column vc_column_container tdc-column td-pb-span9\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_featured_image tdi_82 tdb-content-horiz-left td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_82\">\n<div class=\"tdb-block-inner td-fix-index\">\n<figure><figcaption class=\"tdb-caption-text\">Screenshot\/YouTube<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<div class=\"vc_row_inner tdi_85  vc_row vc_inner wpb_row td-pb-row\">\n<div class=\"vc_column_inner tdi_87  wpb_column vc_column_container tdc-inner-column td-pb-span12\">\n<div class=\"vc_column-inner\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_author tdi_88 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_88\">\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-author-photo\" href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" title=\"Brad Polumbo\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/01\/brad-150x150.jpeg\" width=\"96\" height=\"96\" alt=\"Brad Polumbo\" class=\"avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo\" \/><\/a><\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_date tdi_89 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_89\">\n<p><time class=\"entry-date updated td-module-date\" datetime=\"2022-08-12T12:49:49-04:00\">August 12, 2022<\/time><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_content tdi_92 td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"tdi_92\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p class=\"p3\">The Democrats are pushing through a massive tax-and-spending climate\/healthcare bill that they\u2019re calling the \u201cInflation Reduction Act.\u201d But we already know it won\u2019t reduce inflation, thanks to multiple analyses from nonpartisan, highly credible organizations. Still, won\u2019t it at least help grow the economy and create jobs?<\/p>\n<p class=\"p3\">Yeah\u2026 no.<\/p>\n<p class=\"p3\">A <a href=\"https:\/\/taxfoundation.org\/inflation-reduction-act\/#economic\" class=\"stylish-link\"><span class=\"s1\">new analysis<\/span><\/a> from the right-leaning Tax Foundation finds that in addition to doing absolutely nothing about inflation, the \u201cInflation Reduction Act\u201d would have 3 terrible economic consequences.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcca \ud835\uddd4\ud835\udde1\ud835\uddd4\ud835\udddf\ud835\uddec\ud835\udde6\ud835\udddc\ud835\udde6: The Senate <a href=\"https:\/\/twitter.com\/hashtag\/InflationReductionAct?src=hash&#038;ref_src=twsrc%5Etfw\" class=\"stylish-link\">#InflationReductionAct<\/a> would:<\/p>\n<p>\ud83d\udd39 Increase net revenue by ~$324B<\/p>\n<p>\ud83d\udd39 Eliminate 29k full-time equivalent U.S. jobs<\/p>\n<p>\ud83d\udd39 Reduce long-run economic output by .2%<\/p>\n<p>\ud83d\udd39 Reduce avg. after-tax incomes for taxpayers across every income group over the long run<\/p>\n<p>\u2014 Tax Foundation (@TaxFoundation) <a href=\"https:\/\/twitter.com\/TaxFoundation\/status\/1557431080105418755?ref_src=twsrc%5Etfw\" class=\"stylish-link\">August 10, 2022<\/a><\/p>\n<\/blockquote>\n<h2><b>1. Reduced Economic Growth<br \/><\/b><\/h2>\n<p class=\"p3\">The analysis finds that the plan will reduce the size of the economy by 0.2% over the long-run. (That might sound small, but it translates to billions in income for Americans that will never materialize.)<\/p>\n<p class=\"p3\">Why?<\/p>\n<p class=\"p3\">\u201cThis proposal would raise taxes on work and investment, disincentivizing productive activity,\u201d the Tax Foundation explains. \u201cBy reducing long-run economic growth, <b>this bill may actually worsen inflation by constraining the productive capacity of the economy<\/b>.\u201d<\/p>\n<h2><b><br \/>2. 29,000 Fewer Jobs<br \/><\/b><\/h2>\n<p class=\"p3\">Far from \u201cbuilding back better,\u201d this agenda would destroy jobs, not create them. The Tax Foundation finds that the economy would create 29,000 fewer jobs with these policies in place.<\/p>\n<p class=\"p3\">The two biggest factors here are the increase in minimum corporate taxation and the tax on stock buybacks, which would eliminate 20,000 and 7,000 jobs, respectively.<\/p>\n<h2><b><br \/>3. Lower Wages<br \/><\/b><\/h2>\n<p class=\"p3\">Real wages, factoring in inflation, have already sharply declined under President Biden. But this agenda passing would make matters worse, the Tax Foundation finds, <b>reducing wages by 0.1% over the long-run<\/b>. (Again, this sounds small, but scaled across the entire economy is a significant chunk of change off our paychecks).<\/p>\n<h2 class=\"p1\"><b>What Kind of Return-on-Investment is This?<\/b><\/h2>\n<p class=\"p3\">Democrats are asking us to invest hundreds of billions of taxpayer dollars in their pet projects and endure huge tax hikes\u2014in exchange for what, exactly?<\/p>\n<p class=\"p3\">Slower economic growth, fewer jobs, and lower wages. All while making an utterly <a href=\"https:\/\/www.based-politics.com\/2022\/07\/21\/climate-emergency-why-this-biden-plan-would-be-useless\/\" class=\"stylish-link\">negligible reduction<\/a> in climate change and a <a href=\"https:\/\/www.based-politics.com\/2022\/07\/29\/statistically-indistinguishable-from-zero-ivy-league-analysis-shreds-bidens-inflation-reduction-act\/\" class=\"stylish-link\">nonexistent reduction in inflation<\/a>.<\/p>\n<p class=\"p3\">The American people deserve better.<\/p>\n<h2 class=\"p1\"><b>Like this article? 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These including our newsletter or other informational emails*<\/p><\/div>\n<\/div>\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_102 tdm-content-horiz-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_102\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Our Latest Podcast<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_106 tdm-content-horiz-left td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_106\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Related articles<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"tdi_113\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_114  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_116  wpb_column vc_column_container tdc-column td-pb-span12\">\n<div class=\"wpb_wrapper\">\n<div class=\"tdb-author-box td_block_wrap tdb_single_author_box tdi_119 tdb-content-vert-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_119\">\n<div class=\"tdb-block-inner td-fix-index\"><a href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" class=\"tdb-author-photo\" title=\"Brad Polumbo\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/01\/brad-150x150.jpeg\" width=\"96\" height=\"96\" alt=\"Brad Polumbo\" class=\"avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo\" \/><\/a><\/p>\n<div class=\"tdb-author-info\"><a href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" class=\"tdb-author-name\">Brad Polumbo<\/a><\/p>\n<p>Brad Polumbo is a libertarian-conservative journalist and co-founder of Based Politics. His work has been cited by top lawmakers such as Senator Rand Paul, Senator Ted Cruz, Senator Pat Toomey, Congresswoman Nancy Mace, Congressman Thomas Massie, and former UN Ambassador Nikki Haley, as well as by prominent media personalities such as Jordan Peterson, Sean Hannity, Dave Rubin, Ben Shapiro, and Mark Levin. Brad has also testified before the US Senate, appeared on Fox News and Fox Business, and written for publications such as USA Today, National Review, Newsweek, and the Daily Beast. He hosts the Breaking Boundaries podcast and has a bachelor\u2019s degree in economics from the University of Massachusetts Amherst.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>                    <span class=\"td-page-meta\" itemprop=\"author\" itemscope itemtype=\"https:\/\/schema.org\/Person\"><meta itemprop=\"name\" content=\"Brad Polumbo\" \/><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" \/><\/span><meta itemprop=\"datePublished\" content=\"2022-08-12T12:49:49-04:00\" \/><meta itemprop=\"dateModified\" content=\"2022-08-12T13:50:20-04:00\" \/><meta itemscope itemprop=\"mainEntityOfPage\" itemtype=\"https:\/\/schema.org\/WebPage\" itemid=\"https:\/\/www.based-politics.com\/2022\/08\/12\/dems-inflation-reduction-plan-will-have-these-3-terrible-economic-consequences-new-analysis-finds\/\" \/><span class=\"td-page-meta\" itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\"><span class=\"td-page-meta\" itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/2022\/08\/12\/dems-inflation-reduction-plan-will-have-these-3-terrible-economic-consequences-new-analysis-finds\/\" \/><\/span><meta itemprop=\"name\" content=\"Based Politics\" \/><\/span><meta itemprop=\"headline\" content=\"The American people deserve better.\" \/><span class=\"td-page-meta\" itemprop=\"image\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/Untitled-design-2022-08-12T124626.597.png\" \/><meta itemprop=\"width\" content=\"1920\" \/><meta itemprop=\"height\" content=\"1080\" \/><\/span>                <\/article>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dems \u2018inflation reduction\u2019 plan will have these 3 terrible economic consequences, new analysis finds &#8211; Based Politics<\/p>\n","protected":false},"author":1,"featured_media":1603630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1603517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1603517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1603517"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1603517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1603630"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1603517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1603517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1603517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}