Chuck Schumer and the Democrats were giddy.
It looked like this day would never come.
But Chuck Schumer got one secret deal that will leave you red with rage.
Majority Leader Schumer worked backroom negotiations to secure an agreement from Arizona Senator Kyrsten Sinema to support hundreds of billions of dollars in tax increases on all Americans and hundreds of billions of dollars in inflationary socialist spending on the Green New Deal.
Senator Sinema announced she agreed to back the package by swapping out a carried interest tax increase for one targeting stock buybacks which will hit any American that owns investments.
“We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Sinema declared. “Subject to the Parliamentarian’s review, I’ll move forward.”
Schumer could not contain his glee over striking a bargain to push America one step closer to a socialist nation.
“I am pleased to report that we have reached an agreement on the Inflation Reduction Act that I believe will receive the support of the entire Senate Democratic conference,” Schumer added. “The final version of the Reconciliation bill, to be introduced on Saturday, will reflect this work and put us one step closer to enacting this historic legislation into law.”
America is $30 trillion in debt and Democrats included a sleight of hand in the legislation to make it appear fiscally responsible.
Democrats included $300 billion in deficit reduction.
But those spending cuts are all a mirage.
They are not slated to kick in until 2026, giving Democrats and Congress four years to find a way to eliminate any reduction in federal spending.
Inflation is running at a 40-year high.
The economy slipped into a recession following two straight quarters of contracting Gross Domestic Product.
And Joe Biden and the Democrats are determined to drive the economy even further into a ditch by doubling on the failed policies that brought about this slowdown.
But the new tax increases – which all Americans will feel – and the socialist spending are not even the worst of the bill.
The most dangerous component of the legislation is a scheme to hire 87,000 new IRS agents.
Democrats pitched beefing up the IRS as a necessary measure to ensure wealthy tax cheats pay their fair share.
But that is a lie.
The only reason to hire 87,000 new IRS bureaucrats is because everyone in Washington knows the only way to raise significant tax revenue is to soak the middle class.
And this bill unleashes Joe Biden’s IRS to monitor small businesses and harass the middle-class owners with audits looking to wring as much money out of them as possible.
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