Inflation Reduction Act Will Not Help Average Americans, but It Will Supersize Big Government
By The Heartland Institute | Aug 10, 2022 6:00 PM ET
(The opinions expressed in guest op-eds are those of the writer and do not necessarily represent the views of RedState.com.)
Unfortunately, it seems like a fait accompli that the Inflation Reduction Act will be passed by the U.S. House of Representatives and signed into law by President Biden within the next few days.
For most Americans, the so-called Inflation Reduction Act (IRA) will do little, if anything, to make their lives better. It will not reduce inflation. It will not increase economic growth. It will not incubate innovation and entrepreneurship. It will not reduce hard-working Americans’ tax burden. It will not decrease the red tape that is sapping the vigor from the U.S. economy. It will not decrease the annual deficit nor the national debt. It will not spur job creation. It will not lead to higher wages for everyday Americans. It will not make gasoline, food, housing, or any items of significance more affordable.
On the other hand, the IRA has many benefits for those who are fans of bigger government.
For starters, the bill will increase the size of the Internal Revenue Service’s (IRS) budget six-fold. This includes the addition of 87,000 new IRS agents, who will be tasked with increasing tax enforcement via more audits of small businesses and self-employed Americans.
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READ MORE: https://redstate.com/heartlandinstitute/2022/08/10/inflation-reduction-act-will-not-help-average-americans-but-it-will-supersize-big-government-n610182
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