Senator Joe Manchin angered his party when he killed President Biden’s Build Back Broke bill.
But now he is supporting a bill that will increase the tax-burden for virtually all Americans.
And Harris Faulkner grilled Joe Manchin on his support for the latest tax-and-spend boondoggle.
Senator Manchin appeared on a segment of Fox News’ The Faulkner Focus to discuss the so-called “Inflation Reduction Act.”
Of course, this bill will do nothing to actually reduce inflation.
While the bill will reduce the current deficit spending some, it does so entirely with new tax revenue while piling on even more government spending.
If the politicians actually wanted to reduce inflation, they would rein in the Federal Reserve’s money printing and cut government spending.
Instead, they are putting the squeeze on the American taxpayer.
This bill is basically a smaller version of Biden’s failed Build Back Better bill, which was scaled back in order to get Senator Joe Manchin on board.
“Green” giveaway
Much of the spending in the bill is going toward so-called “Green Energy.”
In a tense exchange, Harris Faulkner challenged Senator Manchin on how exactly this bill is going to reduce inflation and what impact it will have on everyday Americans.
Faulkner noted that by supporting the bill, he seemed to be rolling over to the more leftist fringe of his party.
Manchin claimed that he “pushed back on everything” and that this is not a “green deal bill,” however the bill contains over $150 billion in green energy and electric car subsidies.
Across the board tax hikes
Faulkner then questioned Manchin about taxes in the bill.
Manchin claimed that the bill would only raise taxes for “the wealthiest corporations.”
However, according to data released by the nonpartisan Congressional Joint Committee on Taxation, middle- and low-income Americans will feel the pinch.
According to the analysis, in 2023, the year in which the legislation would increase tax revenue most, individuals making less than $10,000 per year would pay 3.1% more in taxes and those making between $20,000-$30,000 per year would see a 1.1% tax increase.
Faulkner challenged Manchin that the bill would break President Biden’s promise to not raise taxes on anyone making under $400,000.
Manchin deflected the question, and when Faulkner continued to press him on it, he claimed that no one’s taxes will go up.
The bill also provides the IRS with 65% more additional funding for enforcement.
While Democrats will claim this will allow the IRS to go after the super-wealthy, that never seems to be how it works.
More likely, many hard-working Americans, especially small business owners, will be hit with IRS audits.
Additionally, the bill increases taxes on crude oil, which could drive up gas prices even more for everyday Americans.
The phony Inflation Reduction Act will end up hurting Americans as the country enters into a severe recession.
You can’t tax a nation into prosperity, but that never seems to stop Democrats from trying.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
