Changes

This bill is one of the largest tax increases in history, hiking corporate taxes substantially.  It is for that reason it is falsely named an inflation reduction  bill, because it will supposedly narrow the deficit.  In fact, raising taxes rarely reduces the deficit because economic activity decreases.

This bill is one of the largest tax increases in history, hiking corporate taxes substantially.  It is for that reason it is falsely named an inflation reduction  bill, because it will supposedly narrow the deficit.  In fact, raising taxes rarely reduces the deficit because economic activity decreases.

The bill wastes $369 billion on so-called [[climate change]] and energy-limiting provisions that, according to [[liberal]] cheerleaders for this boondoggle, "will transform how Americans get their energy and shape the country’s climate and industrial policy for decades."<ref>https://www.politico.com/news/2022/08/07/inflation-reduction-act-climate-biden-00050230</ref>

The bill wastes $369 billion on so-called [[climate change]] and energy-limiting provisions that, according to [[liberal]] cheerleaders for this [[boondoggle]], "will transform how Americans get their energy and shape the country’s climate and industrial policy for decades."<ref>https://www.politico.com/news/2022/08/07/inflation-reduction-act-climate-biden-00050230</ref>

[[Leftists]] point out that this is four times the size of the wasteful [[green energy]] incentives in [[Obama]]'s American Recovery and Reinvestment Act of 2009.

[[Leftists]] point out that this is four times the size of the wasteful [[green energy]] incentives in [[Obama]]'s American Recovery and Reinvestment Act of 2009.

In addition to raising corporate taxes, this bill would supposedly more than triple [[green energy]] production, by allegedly adding 550 gigawatts of electricity from wind, solar and other renewable energy sources.<ref>So claims the American Clean Power Association, which further asserts that this could power 110 million homes.</ref>

In addition to raising corporate taxes, this bill would supposedly more than triple [[green energy]] production, by allegedly adding 550 gigawatts of electricity from wind, solar and other renewable energy sources.<ref>So claims the American Clean Power Association, which further asserts that this could power 110 million homes.</ref>

== References ==

== References ==

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[[category:energy]]

[[category:energy]]

[[Category:Misnomers]]

[[Category:Misnomers]]