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The Winners And Losers In The 'Inflation Reduction Act' Theft Bill
Winners and Losers in Democrats’ Unconstitutional Tax and Energy Bill
In private sector life Democrats are generally abject failures. This is why they are drawn to government. It is the communist system whereby losers by design are selected to join the party precisely because they know they will never attain greater status in real life, so they end up doing quite literally anything and everything for the party. This is why a government run by such non-achievers is so incredibly lethal to freedom.
The passing of today’s Tax and Energy Bill further hastens America’s dark descent into technocommunism.
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According to Bloomberg, here are the winners and losers with my comments italicized:
None of the billions of dollars in tax increases Democrats floated a year ago on high-earning Americans made it into the final version of the bill, including proposals to double the capital gains rate, increase taxes on inheritances and levy a surcharge on millionaires. Despite rhetoric from Democrats that they wanted the richest Americans to pay much more, there wasn’t consensus within the party to pass a bill that raises levies on the 1%.
The party of grifters and tax thieves was paid off by the wealthy to protect their interests, all on the backs of the middle and lower classes. This gibes perfectly with the WEF program whereby everyone but the elites are poor and under total control of the sociopathic stakeholder technocrats. “Income” taxation is unconstitutional theft that the government does not need, but is strictly used for social engineering purposes.
Private equity fund managers were able to dodge a tax increase that Senator Joe Manchin wanted, but fellow moderate Democrat Senator Kyrsten Sinema insisted be taken out of the bill. Manchin had wanted to narrow a tax break known as carried interest, that allows fund managers to pay lower capital gains rates on their earnings. The private equity industry was able to gain an additional win shortly before the final passage of the bill when a handful of Democrats broke with their party to vote on a Republican amendment that created a carveout for private equity-owned companies in the corporate minimum tax.
Affluent hedge fund managers have been offshoring their wealth for decades, and no one should begrudge them for that. They are merely avoiding theft, and have the means and knowledge to do so. (Remember, this game is not just about the haves and have-nots, it’s also equally about the knows and know-nots.) Corporate taxes in America relative to other business friendly nations are already burdensome and egregious. The wealthy players do not have barriers to entry like small businesses which of course are getting decimated by this bill — more on that in the Losers section below.
The entire contents of the bill were essentially cherry-picked by Manchin and then tweaked to fit Sinema’s preferences. The two moderates amassed huge leverage with their willingness to accept no bill at all -- and attacks from progressives -- rather than a bill with provisions they opposed. The pair were also able to score some direct benefits for their states as part of the negotiations: Manchin secured an agreement to permit the completion of the Equitrans Midstream Corp.’s Mountain Valley Pipeline, and Sinema was able to get $4 billion for drought relief in western states.
Just more confirmations that grifters gonna grift.
The deal extends a popular $7,500 per vehicle consumer tax credit for the purchase of electric vehicles, a win for EV makers like General Motors Co., Tesla Inc. and Toyota Motor Co. But to win the backing of Manchin, companies will have to comply with tough new battery and critical minerals sourcing requirements that could render the credits useless for years for many manufacturers. Not all manufacturers stand to benefit from the credit. New cars that cost more than $55,000 and $80,000 for pickups and SUVs won’t qualify for the credits.
CIA-handled fraudster Elon Musk is the perfect poster boy for this perilous electric car space. Stealing from hardworking Americans in order to gift credits to affluent electric vehicle owners is unconscionable. And the manufacture of electric vehicles exploit African children mining toxic battery inputs, with pollution footprints per vehicle far in excess of any ICE car — just like retired solar panels are wreaking havoc in landfills with their poisonous materials and contaminating water and soil, so too do these electric vehicles. Every single Tesla on the road represents a net loss for the company if stripping out taxpayer funded credits. Tesla ex-ZEV credits has never had a profitable quarter ever. The entire electric vehicle space is a corporate welfare queen skimming operation. And the real threat is that electric cars will one day drive you straight to a FEMA reeducation camp if your social credit score dips below a certain threshold. No one will even own cars in the future, they will be ride shares further taxpayer theft subsidized as per WEF’s recently uncovered schemes with the likes of Uber. The only upside for electric vehicles is that over their lifetimes they produce more CO2, not less. The reality inversion is truly as absurd as it is criminal.
Solar company Sunrun Inc., energy storage and software provider Stem Inc., and hydrogen and fuel cell company Plug Power Inc. stand to benefit from generous tax credits in the bill. Nuclear reactor operators such as Southern Co., Constellation Energy Corp., Public Service Enterprise Group Inc. and Energy Harbor Corp. also could see a boon from a $30 billion production tax credit for nuclear power providers.
To destroy America as quickly as possible means to price legacy energy such that it is unaffordable for the average person. One of the key components of PSYOP-CLIMATE-CHANGE is that everyone is in de facto permanent lockdown as function of not being able to afford to drive. PSYOP-HYPER-INFLATION is now raging, and a most effective synergistic scheme to usher in the scam that is renewable energy. The only way renewable energy can even exist as industries is because of the tax thievery that subsidizes this space. Remember Obama’s Solyndra? Obama and his cronies facilitated the looting of hundreds of millions of dollars from the debt-slave tax donkeys for virtue signal panels that were from day one a con. All that money went poof, just like the hundreds of billions of tax theft being laundering in the Ukraine. Chattel on the corporate plantation.
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Oil and gas got a boost alongside newer energy sources. The bill, which could mandate more federal oil and gas lease sales and boosts an existing tax credit for carbon capture, won praise from companies such as Exxon Mobil Corp. and Occidental Petroleum Corp. The legislation creates a new 10-year product tax credit for hydrogen production that rises to as much as $3 per kilogram depending on carbon intensity.
This substack has covered how the oil companies are directly behind much of the PSYOP-CLIMATE-CHANGE and green initiatives. The more renewable energy which they are all invested in, the higher the prices of oil. A most vicious con. The WEF and UN are driving this with their BigOil partners et al.
Medicare, Obamacare Enrollees
The final bill caps out-of-pocket costs for seniors’ prescription drugs at $2,000 a year and allows Medicare to negotiate the prices on 10 medications four years from now. The bill avoids a large January increase in Obamacare premiums for many middle income people by extending subsidies for three years.
Obamacare, while somewhat neutered, is literally the death panel program. Socialized health care only ends in premature death. If not for the government, hospitals, medical procedures, doctor visits and prescription drugs would all be a fraction of what they are. Obamacare is quite literally a WEF and UN scheme to get government in everyone’s medical records which will eventually slot right into the social credit score. Also, the average senior spending up to $2,000 for meds is having great trouble paying for food and other expenses. The cap is a slap in the face to these people that are suffering from inflation, lockdowm crimes loneliness, etc. And who can forget the Obamacare architect gloating the Americans are idiots for going along with this sickcare abomination? Truly sick indeed!
Manchin negotiated $300 billion in deficit reduction into the bill, the first major effort by Congress in 11 years to reduce the difference between how much the country spends versus how much tax revenue it takes in. The deficit cuts are minor compared to the $24 trillion national debt but hawks say it’s a start.
Nothing more than Uniparty kabuki theater. Sadly, these days there is no end to government theft, so a token squirt in the overflowing Washington, D.C. manger is nothing more than less than a start.
The Internal Revenue Service will get an influx of $80 billion over the next decade to expand its audit capability and upgrade technology systems after years of being underfunded.
More money, more unconstitutional stealing. The private corp IRS that backstops the Fed and their inflation and interest rate schemes while increasing the propensity for the average debt-slave to go into ever greater debt to the very private owners of said Fed by virtue of taxed fruits of their labors. Between 2006 and 2019 the IRS illegally siphoned off $21.6 million and spent it on guns, ammunition, and military equipment. Now that the illegitimate government allocated $80b in more theft to the IRS, the middle class and poor are in even greater trouble. And middle class and poor “domestic terrorists” are as screwed as The Tea Party when Lois Lerner illegally targeted them. This is all part of the WEF, UN, WHO et al. weaponization of taxation whereby the citizenry gets increasingly destroyed via taxation and their tax cops straight into UBI hell.
The GOP was confident they had beaten back Biden’s tax and climate agenda and were stunned in late July when Schumer and Manchin announced a deal. While still the favorites to gain seats in the midterm elections, passage of the bill is a major setback for the GOP’s policy aims. It does, however, give them a new issue to campaign on in the fall campaigns.
Folks, the reason there is only a Uniparty in the USSA is because most of the Republicans are bought and paid for RINOs. All government losers on both sides of the aisle are big time winners that are daily making out like bandits. And PSYOP-CLIMATE-CHANGE is a lock, irrespective of faux protestations by RINOs et al.
The bill allows Medicare for the first time to negotiate with pharmaceutical companies on drug prices, a change that Congress has been discussing for decades with limited success, in part because of the drug lobby’s power. The pharmaceutical industry was able to score a partial victory after the Senate parliamentarian blocked a portion of the bill that would have capped price increases for drugs in the commercial market. Drug-makers will likely offset some of their reduced revenue from Medicare negotiations with higher prices for patients with private insurance.
BigPharma scored record windfall profits from their “free” DEATHVAX™ program thanks to PSYOP-19. If anyone really believes that BigPharma ever loses they are hopelessly naïve and uninformed. Medicare is captured, and their “negotiating” with BigPharma is about as good faith as the captured FDA regulating BigPharma. This is purely for optics so that hacks at rags like Bloomberg can list BigPharma in the Losers category, yet in the above their “losses” are both qualified such that they are in reality actually winning (e.g. drug-makers will likely offset some of their reduced revenue from Medicare negotiations with higher prices for patients with private insurance). Likely?
Technology companies are set to bear the brunt of the two major tax increases in the proposal -- a 15% minimum tax on financial statement profits and a new levy on stock buybacks. Corporations like Alphabet Inc.’s Google and Meta Inc.’s Facebook have both been able to deftly use the tax code to cut down on the taxes they owe, while still being profitable. The minimum tax is designed to increase levies on companies that report large profits to shareholders, but can claim many deductions and credits to cut their IRS bills.
BigTech has historically paid little to no taxes. This whole space was also created, funded and broken out by the government’s shadowy and unconstitutional agencies like DARPA and the real domestic and international terrorists the CIA. In fact, the latter runs a taxpayer funded hedge fund called In-Q-Tel which “invested” in this whole BigTech space. Same CIA that tabetopped and game planned PSYOP-19, set up illegal bioweapon labs in Wuhan and Ukraine, and is to this very day Amazon’s largest AWS client. No one at the top of in BigTech pays any real taxes (e.g. Jeff Bezos only ever declares $75,000 per annum as “income” taxes while — shocker “coincidence” — his largest AWS client is the CIA). See above The Wealthy as winners. Elites up, debt-slave tax mules down.
The SALT Caucus
The legislation does not include an expansion of the $10,000 cap on the state and local tax deduction, or SALT. The omission is a blow to residents of high-tax states in the Northeast and West Coast, and Representatives Josh Gottheimer of New Jersey and Tom Suozzi of New York, who led the effort to increase the size of the write-off.
Property taxation is perhaps the most pernicious tax of all. There simply cannot be any true private property ownership when one is only ever leasing “their” castle from the county. This is precisely why the Framers wanted We the People to have Allodial Property Title, which states like Nevada grant in rare instances. Every state should offer Allodial Title and encourage it for true home ownership, but alas the UN and their Agenda 21 is winning out with its primary goal of stripping all private ownership a la the WEF’s “you’ll own nothing and you’ll be happy” power grab. But for now it’s, “you’ll be taxed into owning nothing and you’ll be happy.”
The $437 billion in spending is a far cry from the $6 trillion that progressives, led by Senator Bernie Sanders, envisioned at the start of Biden’s presidency. The bill excludes all proposals for new social programs, including child care, tuition-free college, housing spending and an expanded-child monthly child tax credit.
Sanders is the grifter archetype. Never had a job in the private sector. Never created anything in his life. Never gave back since he never had anything to give, yet he and his wife stole money from a school she ran. A bonafide lifelong parasite that happens to own three homes. Not too shabby comrade Sanders, da? In other words, Sanders is perfect loser to join the technocommunist party. But hey, when you have less than zero understanding or appreciation of the dollar, what’s a few trillions amongst apparatchiks?
America is in grave trouble. The passing of bills such as these only hastens the death spiral of these last vestiges of the Constitutional Republic.
Do NOT comply.
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