The IRS is Hiring 87,000 New Agents. Should You Worry?

The US House of Representatives passed the massive Inflation Reduction Act on Friday on a purely partisan vote. The $430 billion bill includes new taxes totaling $739 billion. Here are some of the highlights of the Schumer-Manchin bill:

$9 billion for climate agricultural programs to reduce bloating in cows;

$27 billion for local and state governments to procure zero-emissions technology;

$60 billion for “environmental justice programs, and

Enormous subsidies for wind, solar energy, electric vehicles and energy-efficient housing materials.

I’m not an economist, but dontcha think if everything is getting crazy expensive it’s a good time for the government to put the Amex card away?