{"id":1922602,"date":"2023-05-02T05:58:18","date_gmt":"2023-05-02T09:58:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-post-editorial-board-bidens-green-tax-breaks-for-the-rich-driving-nation-deeper-into-red\/"},"modified":"2023-05-02T06:01:30","modified_gmt":"2023-05-02T10:01:30","slug":"ny-post-editorial-board-bidens-green-tax-breaks-for-the-rich-driving-nation-deeper-into-red","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-post-editorial-board-bidens-green-tax-breaks-for-the-rich-driving-nation-deeper-into-red\/","title":{"rendered":"NY Post Editorial Board: Biden\u2019s Green Tax Breaks for the Rich Driving Nation Deeper Into Red"},"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\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fny-post-editorial-board-bidens-green-tax-breaks-for-the-rich-driving-nation-deeper-into-red%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1922602&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The Shocking Truth About Biden&#8217;s Green Tax Breaks<\/h2>\n<p>The Inflation Reduction Act&#8217;s green tax breaks, touted by President Biden as a way to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-goes-full-green-new-deal-tyrant-carbon-emissions-threaten-the-very-existence-of-our-planet-video\/\" title=\"Biden Goes Full Green New Deal Tyrant: Carbon Emissions Threaten \u201cthe Very Existence of our Planet\u201d (VIDEO)\">combat climate change<\/a>, are turning out to be a massive burden on America&#8217;s fiscal future. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-post-editorial-board-bidens-green-tax-breaks-for-the-rich-driving-nation-deeper-into-red\/\" title=\"NY Post Editorial Board: Biden\u2019s Green Tax Breaks for the Rich Driving Nation Deeper Into Red\">original sticker price<\/a> of $271 billion over the next decade is just the tip of the iceberg. New analyses by Goldman Sachs and the Brookings Institution reveal the true cost to be north of $1 trillion and $780 billion, respectively.<\/p>\n<h3>What&#8217;s Driving the Cost?<\/h3>\n<p>The bulk of the cost comes from tax credits for electric vehicles and advanced manufacturing, two industries favored by wealthy Democrats and politically connected executives. The projected cost of the EV credit alone has exploded from $14 billion to almost $393 billion, an increase of 2,700%. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rubio-introduces-bill-to-block-ev-tax-credits-to-fords-plant-using-chinese-technology\/\" title=\"Rubio Introduces Bill to Block EV Tax Credits to Ford\u2019s Plant Using Chinese Technology\">advanced manufacturing credit<\/a> has skyrocketed from $31 billion to $193 billion, a jump of 522%. These numbers blow up the absurd claim that the IRA will have a net negative impact on our federal deficit over the next 10 years, even with the law&#8217;s massive new tax hikes.<\/p>\n<h3>Who Benefits?<\/h3>\n<p>Financial institutions are the biggest gainers from the green subsidies, taking home three times as much in benefits as any other sector. It&#8217;s hard to believe that the subsidies will end up doing much good for the climate, either. The reality is that the green tax breaks are a huge gift to the fat cats the Democrats supposedly despise, rolled up in green posturing, at the expense of the American people.<\/p>\n<h3>The Bottom Line<\/h3>\n<p>Even if the IRA were to work as originally promised, it would have only a trivial effect on inflation, lowering it by a third of a percentage point, 10 years from now. This news comes after Biden has already added $5.6 trillion to our public debt, while the budget proposal he dropped in March would drive national debt to a crushing $51 trillion by 2033. It&#8217;s time for the American people to wake up and realize they&#8217;ve been conned by the green tax breaks.<\/p>\n<ul>\n<li>New York&#8217;s income sinks nearly $16B compared to pre-COVID as residents flee at alarming rate<\/li>\n<li>IRS puts out fresh job ad for hundreds of armed agents<\/li>\n<li>ASPCA gives 2% of budget to pet shelters while &#8216;hoarding&#8217; millions: think tank<\/li>\n<li>Tell Albany: For once, read the budget bills before you pass them<\/li>\n<\/ul>\n<p>What do you think? Post a comment and let us know how you feel about Biden&#8217;s green tax breaks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>tax situation in New York is causing quite a stir! With residents fleeing at an alarming rate, the state&#8217;s income has taken a nearly $16 billion hit compared to pre-COVID times. And if that wasn&#8217;t enough to raise eyebrows, the IRS is now on the hunt for hundreds of armed agents. Meanwhile, a recent report has revealed that the ASPCA is only giving 2% of their budget to pet shelters, while hoarding millions. It&#8217;s time for Albany to step up and actually read the budget bills before passing them. Don&#8217;t miss out on the latest tax drama!<\/p>\n","protected":false},"author":1,"featured_media":1922603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[3706,3664,6449,9942,11680,6616,5812,11156,4899,7741,7669,8360],"class_list":["post-1922602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bidens","tag-board","tag-breaks","tag-deeper","tag-driving","tag-editorial","tag-green","tag-nation","tag-post","tag-red","tag-rich","tag-tax"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1922602","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=1922602"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1922602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1922603"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1922602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1922602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1922602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}