Inflation Reduction Act 'a mess' after billionaire tax hike was removed, AOC's constituents sound off

8/10/2022 10:30:00 AM

Inflation Reduction Act 'a mess' after billionaire tax hike was removed, AOC's constituents sound off

Inflation Reduction Act 'a mess' after billionaire tax hike was removed, AOC's constituents sound off

Rep. Alexandria Ocasio-Cortez's constituents weighed in on how the Inflation Reduction Act kept the carried interest loophole, but addressed climate change.

Tom, one of Rep. Alexandria Ocasio-Coretez's constituents, discusses climate change."The whole bill is a mess," one man, Tom, told Fox News."It’s a feel-good bill so the Democrats can say they did something and maybe they won't do so badly in the upcoming elections." 

"There are things in the tax code that allow people to write off various things, so, what are you what are you going to do?" he said.Daniel said Democrats should vote against the bill until the carried interest provision is added back in. As it stands, carried interest – a share of an investment fund's profits paid to executives – has a lower tax rate than other workers may see.

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I’m not sure that guy is AOC’s target constituency

An inflation-neutral social spending bill is not an inflation reduction actThere's another universe where President Joe Biden signs his so-called Inflation Reduction Act into law, but in March 2021 — when inflation was 2.6%, rather than approaching double digits. Bullshit This is the IRS Expansion Act & Climate Chicken Little Society Spending Bill. There is nothing in this bill supported UNANIMOUSLY by DEMOCRATS that reduce inflation. Do not allow the administration a pass this November. HOLD THEM TO ACCOUNT!

Inflation Reduction Act Won't Curb Inflation ‘Over the Short Run,' Says EconomistFluctuating energy, food and housing prices are likelier to move the needle on inflation in the near term than any spending plan Congress passes, experts say.

Businesses Voice Support For Climate Action In The Inflation Reduction ActJoan Michelson is a career coach, dynamic public speaker and host of the acclaimed podcast Electric Ladies of fascinating interviews with women innovators in energy, climate and sustainability, ESG. (formerly known as Green Connections Radio) joanmichelson or electricladiespodcast.com

Inflation Reduction Act Passes: Senate Approves $430 Billion Climate And Healthcare BillSenate Democrats voted Sunday to pass the landmark Inflation Reduction Act, approving the landmark $430 billion climate, tax and healthcare bill. Let’s see how truth is on that… It’s good and refreshing to see the level of debates that has gone into the Climate Reduction Bill passed by the senate. The intellectual rigor and focus the US Congress has given to it should inspire and challenge other countries to give priority and focus to climate change.

Senate nears passage of Inflation Reduction Act after overnight debateThe package, a dwindled version of earlier multitrillion-dollar measures that Democrats failed to advance, has become a partisan battleground over inflation, gasoline prices and other issues that polls show are driving voters. Let’s see how many republicans will vote to help the American people

Senate enters 'Vote-a-rama' as the 'Inflation Reduction Act' comes closer to being passedIt includes the largest ever federal effort on climate change - close to $400 billion - hands Medicare the power to negotiate pharmaceutical prices and extends expiring subsidies that help 13 million people afford health insurance.

AS INFLATION REDUCTION ACT MOVES THROUGH CONGRESS, AMERICANS WEIGH IN ON IMPORTANCE OF CLIMATE INITIATIVES Tom, one of Rep.The San Francisco Fed estimates that Biden's $1.run balances on their credit cards .are in response to demands from the investment community for more consistent, comparable and reliable financial data from companies about the risks their businesses face from climate change.

Alexandria Ocasio-Coretez's constituents, discusses climate change. "The whole bill is a mess," one man, Tom, told Fox News. This new bill modestly reduces the annual multitrillion-dollar deficit by $300 billion through 2031."It’s a feel-good bill so the Democrats can say they did something and maybe they won't do so badly in the upcoming elections.S."  "There are things in the tax code that allow people to write off various things, so, what are you what are you going to do?" he said. Not only would it have cut into the sizable costs of our interest on federal debt (which will consume nearly 40% of our federal revenue by 2051), but it would have also sent a clear signal that we'd be returning to normal levels of demand — no need for massive additional spending. Daniel said Democrats should vote against the bill until the carried interest provision is added back in. And we need the SEC to step in and provide clearer guidance, clearer rules to help ensure that investors are getting the information that they need.

As it stands, carried interest – a share of an investment fund's profits paid to executives – has a lower tax rate than other workers may see. It is a deficit-reducing social spending bill that cannot reduce inflation in any meaningful way. In addition to letting Medicare negotiate drug prices on behalf of consumers, the bill limits out-of-pocket prescription costs for Medicare beneficiaries to $2,000 per year. "If they're not going to pay their share … I think that's definitely something that needs to be tweaked in the bill," Daniel told Fox News. Daniel, another resident in AOC's district, discusses carried interest. Despite the collective amnesia of the Fed, the Hill, and the rest of the financial establishment over the past decade, inflation is a monetary phenomenon. ( ) DEMOCRATS' 2024 DECISION COULD BE SWAYED BY MAJOR SPENDING BILL WIN "I don't really trust anything that the government has going on when it comes to the climate or when it comes to really anything," Zion told Fox News. "Naming it 'anti-inflation' is a joke," Kevin O'Leary, chairman of O'Shares ETFs and judge on told CNBC's Squawk Box on Monday. He added that politicians already"failed humanity" with their inaction on climate change over the past two decades. So now, let's dial into the past quarter-century. In the last incarnation of the bill, Ceres Vice President of Government Relations Anne Kelly told Electric Ladies Podcast that, “It deals with four interwoven challenges…The first is the post-pandemic reality, the second is the economic downturn, the third is the climate crisis, and the fourth is inequality and racial equity… The general theme is that the road to economic recovery is through climate action.

  Sens. Sen.5 trillion. Bernie Sanders of Vermont and Sen. Elizabeth Warren of Massachusetts, both liberals with a history of voted for the Inflation Reduction Act. From March 2020 to the start of this year, the Fed added $6 trillion to the money supply, or nearly 30% of all dollars currently in circulation. Ocasio-Cortez, known for her aggressive stance toward increasing taxes on billionaires, is set to vote on the bill Friday.

Zion, a New Yorker, says he's lost faith in government. More importantly, the Keynesian guidebook is poorly equipped to handle our current morass of stagflation. (Fox New) CLICK HERE TO GET THE FOX NEWS APP   "Climate change is something that's gone ignored for far too long," Max told Fox News."If there are places where you have to compromise in order to get change done efficiently and quickly, I think it's just something that we have to take on right now. But our economy is both too hot and too cold for this to work." Zion said he's lost faith in the government’s ability to help the average American .  "It's always going to be for the betterment and the protection of people who are at a higher social and economic status than people like myself and people that reside in this area," he said. It would be political suicide to raise taxes to the point that it actually contracts the money supply.

  Teny Sahakian is an Associate Producer/Writer for Fox News. Follow Teny on Twitter at @tenysahakian. And thus, we're beholden to unelected (and for now apparently too timid) bureaucrats who spent the last 10 years convincing themselves that keeping interest rates near zero during the longest bull run in history wouldn't create unprecedented asset price inflation. Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox Arrives .