"Inflation Reduction Act": some confusion In The Mainstream Press"

[HedonistForever]

Originally Posted by 1blackman1

So well reasoned there dude. Thank you for your astute contribution.

And another ad hominem attack but then I could say that about every post you make because it is literally, all you have. All those years in law school wasted in favor of ad hominem attacks.

ad ho·mi·nem

• (of an argument or reaction) directed against a person rather than the position they are maintaining

What was wrong with his reasoning counselor? Was it this, which is unquestionable true since the CBO and every serious economist has said as much "the amount of inflation reduction from this bill is so negligible as to be zero reduction".

But most news outlets, broadcast, online and in print are referring to it in terms of climate change, spending and tax issues.

And you could have seized the opportunity to dazzle us with your brilliance when asked the question

How tax driven price increases will reduce inflation is not clear to me.

But you do what you are best at, attack, attack, attack.

[HedonistForever]

Originally Posted by ICU 812

Still no one has argued that the statement in the OP is wrong, or why it is wrong.

Step up. I will respond with shorter words in shoer sentences.

That's when you know you have made a coherent argument, when they have no coherent response.

[ICU 812]

Crickets from the liberal left here.

[ICU 812]

Interesting to note that the liberal left and progressives in the media are not now calling it an "Inflation Reduction" act. They are calling it a climate change bill or an infrastructure bill or even a tax bill!

[Yssup Rider]

Our esteemed RWWs chided me for calling it that when Sinema agreed to pass the bill.

Interesting to note that you skipped right over that thread and went straight to your own rage whining commentary.

[WTF]

Originally Posted by Tiny

You've got a good point ICU. People who live and breath macroeconomics and who are candid will admit that the bill was poorly named. The name was chosen for political purposes. As Texas Contrarian has noted here, inflation is likely to come down anyway over coming months, and this was a cynical ploy to try to give Congressional Democrats an opportunity to claim credit for that before the midterms.

This bill will do nothing to control inflation over the next two years. The consensus appears to be it will push it up a bit.

So you think present day politicians are trying to fool the masses?

Would that be anything like cutting taxes on the upper income and then increasing taxes through increased SS taxes that effected the poor and middle class much more that the upper income...effectively embarking on a massive transfer of wealth that bore out in increased income inequality.

Guess what political party did that.

And guess what....so called economic guru's are stilling denial of said tomfoolery!

[WTF]

Originally Posted by HedonistForever

That's when you know you have made a coherent argument, when they have no coherent response.

Or you've shit your pants yet again and they want no part of you

[ICU 812]

Still not much said here refuting the idea that the "Inflation Reduction Act" doesn't and won't reduce inflation but will increase taxes in a way that will adversely affect middle and lower income folks.

No one has challenged that or shown it to be wrong.

[Tiny]

Originally Posted by Yssup Rider

Our esteemed RWWs chided me for calling it that when Sinema agreed to pass the bill.

Interesting to note that you skipped right over that thread and went straight to your own rage whining commentary.

That was actually a darn good thread, Texas Contrarian's and LustyLad's posts in particular. It's always interesting when the Big Guns of Economics participate. No time this afternoon, but I'll try to resurrect it.

[WTF]

Originally Posted by Tiny

That was actually a darn good thread, Texas Contrarian's and LustyLad's posts in particular. It's always interesting when the Big Guns of Economics participate. No time this afternoon, but I'll try to resurrect it.

You confused a one big gun and a water pistol with two big guns

[WTF]

Originally Posted by ICU 812

Still not much said here refuting the idea that the "Inflation Reduction Act" doesn't and won't reduce inflation but will increase taxes in a way that will adversely affect middle and lower income folks.

No one has challenged that or shown it to be wrong.

Well you know that increasing taxes is one way of decreasing inflation....maybe not the best but it would work.

He'll I'm all for the government making everyone who recieved PPP money or free checks to have to give it back.

That would reduce inflation...

[HedonistForever]

Originally Posted by ICU 812

Still not much said here refuting the idea that the "Inflation Reduction Act" doesn't and won't reduce inflation but will increase taxes in a way that will adversely affect middle and lower income folks.

No one has challenged that or shown it to be wrong.

I think the CBO and multiple economic think tanks have come out and said "It's wrong".

Does the inflation Reduction Act reduce inflation?

The nonpartisan Congressional Budget Office concluded this month that the changes would have a "negligible" impact on inflation this year and next. And the University of Pennsylvania's Penn Wharton Budget Model concluded that over the next decade, "the impact on inflation is statistically indistinguishable from zero."


But you'll never hear that admitted here from the Left nor will you hear that on the MSM news.

[ICU 812]

Originally Posted by ICU 812

Still not much said here refuting the idea that the "Inflation Reduction Act" doesn't and won't reduce inflation but will increase taxes in a way that will adversely affect middle and lower income folks.

No one has challenged that or shown it to be wrong.

Nothing? No one?

Anyone disagree with Hedonist's post just above?

[Jacuzzme]

[WTF]

Originally Posted by ICU 812

Nothing? No one?

Anyone disagree with Hedonist's post just above?

I think anyone with half a brain realizes inflation can't continue at this pace (unless you're a poor adopted kid in Florida). Even Democrats, TC was correct in his analysis that the Dems know inflation will soon ease and they hope to tie this act to the Rooster causing sunrise.

It does seem though that some of you are having a hard time comprehending that equation.