Thread: Does the Inflation Reduction Act violate Biden’s $400,000 tax pledge? Expect 'a diffe

Doesn't really matter, its not a huge impact on most taxpayers, maybe "slightly" indirectly, but again as article says, there are some benefits to incomes below 400K that outweigh each other.
Either way, the US taxpayer earning less than 400K is paying less federal taxes now than just about anytime in modern Post WW2 history.

As for "Inflation Reduction" I don't think there's any impact on reducing inflation in this bill.
In factual reality, Biden has had little to do with GLOBAL (Not just US) Inflation rising, and he'll likely have little to do with it as it comes down, which is probably very soon since we've likely peaked, as Oil, Commodities are starting to come down sharply in the past month and a half....and China COVID Zero, and other supply chains issues also improving.

All those (Oil, Commodities, Supply Chains) is what drove inflation up in the first place...and those will be the main drivers of Inflation going down.

Let's Go Brandon

Agree with fireweather that inflation has probably peaked. Thanks to high prices, gasoline demand is starting to dwindle and prices are starting to come down. The administration will take full credit for it with this bill that's nothing but a handout to democratic donors, particularly those involved in renewable energy.

We're going to have to see what direction businesses take with this 1% stock buyback tax. After much back and forth over the years on this topic, I believe buybacks to be nothing but a reason help goose those quarterly profits by reducing share counts. As a result, executives are able to benefit through more stock options. Companies often buy back stock at the highs, not the lows, and are no better at timing than the people who crowd onto this site when markets are going up. Buybacks are one of the only things the market cares about anymore so if this tax is enough to make companies cut back, then it could bring more volatility.