More than half of IRS audits in 2021 were directed at taxpayers with incomes less than $75,000, and nearly half of those auditsreceiving the earned income tax credit, which is an anti-poverty measure. “God help us,” exclaimed Sen. Lindsey Graham in response to the possibility of the IRS hiring up to 87,000 new agents. It’s easy to guess who he meant by “us.”
What the legislation won’t do is greatly impact inflation. An analysis by the Wharton School of the University of Pennsylvania concluded it would “very slightly”until 2024 and decrease inflation thereafter. “These point estimates are statistically indistinguishable from zero, thereby indicating low confidence that the legislation will have any impact on inflation,” the analysis said.
Even so, this legislation that deserved a less deceitful name is a major step toward what the nation aspires to be in the 21st century — fairer, healthier, wealthier, wiser, and more prepared for the next 100 years.
Praise god....it does everything but reduce inflation.
Something is wrong here. mcuban has no problem lowering the cost of prescription drugs prior to this bill
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