Some experts contend this bill could result in a 40% reduction in greenhouse emissions by 2030. It is a small victory from the environmentalist bucket list and maybe an overly optimistic projection, but at least it is movement in the right direction.
The bill also addresses an issue that is very much in the present.
And finally what may tickle me the most; included in the bill is a 15% tax on corporations posting $1 billion or more in income. Combined with a 1% excise tax on stock buy backs and the coffers of the US treasury should enjoy many billions more in tax revenue. Finally a tax bill targeting the segment of our country who should be paying more.
Trickle down economics was proven a loser when it first was introduced back in the late 1800's. But for some reason the Right, at the behest of their owners, the big corporations, regularly champion it as a new radical idea. This bill begins to cut through the smoke and mirrors Big Business and the Billionaires have been able to hide behind. Anyone who is against this bill is nothing but a tool of the White Wingin Right and their owners, Corporate America.
The GOP was happy to spend roughly $2.3 Trillion dollars and 900,000 lives over 20 years for our failed military exploits in Afghanistan and Iraq. That was money we pissed away with no possibility of any beneficial return down the road. Nothing, Nada, the money is just gone. And the 900,000 lives? Well, no one seems to even consider their loss as anything but the results of the fog of war. Oh well.
Yet now the mental giants of the Right are whining about a relatively paltry $725 or so billion being spent on policies and measures with possibly life changing benefits in the next decade. They talk about the "hidden costs". They talk about the hidden agendas of the Left being bolstered by money snuck into bill. Where were they when the costs of our failed Middle-East policies came due. Where was their outrage when corporate buddies lined their pockets with lucrative private contracts doing what should have been done by the military in the first place. What a sleazy clown show the Right has become.
The Inflation Reduction Act will result in :
- 40% reduction in greenhouse emissions by 2030
- Result in over $700 billion dollars in revenue in the next decade because of a 15% tax on the richest corporations posting more than $1billion dollars in profits and a small excise tax of 1% on stock buy backs.
- Result in a more favorable negotiating position with Big Pharma and save as much as $79 billion over the next decade.
- Capping out of pocket expense for drugs and put more money back in the economy and not just continue to pad the already overflowing pockets of the legal drug trade.
- Insulin costs will be capped at $35 per month and will help the 7.5 million diabetics who currently spend $334 to $1,000 per month on insulin now.
Keep it 'tween the ditches ...............................................