Time to Deal With Politicians Who Keep Bringing Us Massive Needless Spending Bills.

Estimated Reading Time: 3 minutes

Editors’ Note: Thomas Patterson’s excellent review of the deceptive and punishing Inflation Reduction Act ends with a statement about Senator Mark Kelly of Arizona. He is accurately labeled as the 51st vote for the Inflation Reduction Act causing incalculable damage to Americans’ economic well-being and liberty and should be a major focus of the November 8th election. He is a political fraud – he is no ‘bipartisan centrist’. In addition, he has a long history of involvement and economic enrichment with Tencent Holding, Ltd., a giant Chinese tech and multimedia company with very close ties to the Chinese Communist Party. The ‘Senator from Beijing’ (Mark Kelly) should be voted out of office by Arizonans in less than 90 days, in part for the reasons well described below.

 

Manchin and Sinema had a chance to go down in history as heroes. They courageously withstood withering criticism to save the republic from trillions of dollars of inflation–fanning intergenerational theft.

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But finally, they fell for the oldest trick in the book – the “dad can I have a pony“ swindle, traditionally practiced by clever youngsters who were willing to settle for a puppy in the first place. Exhausted by the mental energy required to resist intraparty pressure and not wanting to be responsible for poor election outcomes, they caved.

They supported the Inflation Reduction Act (IRA) for $740 billion after sinking (again, thank you) the original $3.6 trillion version.

But what they got was possibly the most deceitful bill in the history of bills. The “IRA will reduce the deficit by $300 billion“ claimed huckster-in–chief Joe Biden. “And we’ll do it without raising taxes a penny on those making less than $400,000 per year“.

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Are you joking? Let’s start with the IRS, which received an $80 billion spending boost, an amount the Treasury Department reported would result in 87,000 new FTEs, mostly auditors and examiners.

That’s bad news for the middle class. Only 1.8% of American taxpayers earn more than $400,000 yearly. It’s inevitable that the other 98.2%, who make about 75% of the total income, will also receive increased scrutiny.

The only purpose of hiring an army of new auditors would be to increase collections. Anyone familiar with IRS audits knows that even taxpayers who have done no wrong often capitulate to aggressive harassment. The bottom line is that the Congressional Joint Committee on Taxation estimates that 70% to 90% of the money raised from unreported income would likely come from those making less than $200,000 per year.

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The bill writers, sensing the problem, added this gem: “Nothing in this section is intended to increase taxes on any taxpayer or small business with a taxable income under $400,000.“.

Get it? Nothing here provides actual protection to any lower-income taxpayers. Instead, the party of good intentions is attempting to avoid accountability, while claiming any unfortunate outcomes won’t be their fault.

The Inflation Reduction Act, it is now well established, will not reduce inflation and won’t reduce the deficit either, according to the bipartisan Joint Committee on Taxation. Instead, all of us will pay for this boondoggle by 1) forking over more money to the IRS (see above) 2) the effects of the new 15% corporate minimum tax passed on to workers and consumers and 3) another government spending spree which will (again) be inflationary. Even Bernie Sanders gets it this time.

But the damage doesn’t stop there, as Steve Moore recently noted in the Wall Street Journal. The IRA would transfer $250 billion from Big Pharma to Big Climate.

Bad idea. Pharmaceutical companies spend $100 billion yearly on R&D, bringing us life-saving and misery-reducing drugs which have, among other benefits, reduced death rates from cancer and heart disease by half in the last 50 years.

The IRA price controls would inhibit innovation with a resulting cost in lost years of life estimated to be 30 times that from Covid, in addition to the increased human suffering and economic losses.

The climate change funds will go mainly to subsidies for wind and solar, which after decades of “start-up” funding produce 7% of America’s total energy. They’re not only unreliable but expensive too. A University of Texas study showed subsidies per megawatt hour of electricity range from 50 cents for coal up to $43 to $320 for solar. Yet we’re going to spend $380 billion more to chase the chimera of avoiding mostly inevitable climate change by vastly reducing our quality of life.

Americans deserve better governments than this. Passing trillion dollars spending bills for no essential reason has become the new normal.

It’s tempting to feel helpless, but what we can do is vote smarter. For starters, Arizonans should remember this in November: Mark Kelly was a tie-breaking vote on the Inflation Reduction Act. With just 51 votes, it couldn’t have passed without him.

He campaigns as a bipartisan centrist but votes like a socialist. It’s time for us to wise up.

*****

Thomas C. Patterson, MD is a retired Emergency Medicine physician, Arizona state Senator and Arizona Senate Majority Leader in the ’90s. He is a former Chairman, Goldwater Institute.

 

TAKE ACTION

Are you fed up? Are you worried that America in rapidly sliding into a neo-Marxist state by the radical left in control of Washington with historically narrow majorities in the U.S. House and Senate and an Executive controlled by unnamed far leftists in place of a clinically incompetent President Biden? They are desperate to keep power and complete their radical progressive agenda that will change America and our liberty forever.

Americans just witnessed the passage of the Inflation Reduction Act of 2022 without one Republican vote in the U.S. Senate and House (just as Obamacare was passed in 2010). The IRS  will be hiring 87,000 new agents, many armed, to terrorize American taxpayers.

Americans witnessed the FBI raid at the Trump Mar-A-Lago home and property of President Trump, truly a first in all of American history. We know what that is about. 

It is undeniable that the Democrat Party and the administrative state (the executive branches of the DOJ, FBI, IRS, et al) are clear and present dangers to our Republic and our liberty as they increasingly veer further away from the rule of law and the Constitution. What is the solution? At this critical juncture, there is only one action we can all take.

The only viable and timely solution at this critical point is to vote – yes, vote correctly and smartly to retake the U.S. House and Senate on November 8th and to prepare the way to retake the White House in two years. Vote and help everyone you know to vote. Please click the TAKE ACTION link below – we must vote correctly and in great numbers to be sure our votes are counted to diminish the potential for the left to rig and steal the midterms and the 2024 elections as they are clearly intending to do after their success in 2020.

 

 

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