Inflation Reduction Act – Bear Brief 10AUG22

By | August 10, 2022

Good morning i’m bear with Bearingdependent.com Today we’re going to do the brief 10 august 22 the inflation Reduction Act How do you know a politician’s lying Their lips are moving If you’re new here go ahead and Subscribe ring the little bell icon that Way youtube will pretend to inform you When we go live and drop new content If you’re not new here you know what to Do Share the show with people that you love So that we can all Navigate these uncertain times ahead I love the Long Time-honored tradition Of politicians naming bills The exact opposite of what the bill’s Going to do The patriot act The inflation reduction act Uh-huh Okay I’m gonna do my best to keep this a pg Show and refrain from Offending everybody’s delicate Sensibilities this morning The inflation reduction act has been Passed by the senate and a 5150 vote With kamala harris

Making the deciding vote The plan is a large sweeping bill 430ish billion dollars Let’s spend half a trillion dollars in An act called the reflate inflation Reduction act okay The bill the plan is a large sweeping Bill that covers climate issues Taxes And health care It would allocate 79.6 billion to the Irs with over half of that amount going To enforcement alone Claim is that this enforcement will be Targeting the billionaire tax cheaters But analysts have been quick to say Otherwise Only Between four and nine percent Of the money coming from under reported Income Is expected to make is expected to come From people making over 500 000 annually So Of this roughly 80 billion dollars That’s allocated to the irs for Enforcement personnel The people that they say they’re going To target that bracket 500 000 and above Represents Only somewhere between four and nine Percent Of the revenue that these enforcement People are going to be going after

The lion’s share of the expected revenue 78 to 90 percent would most likely be Coming from people making under 200 Dollars annually And i know two hundred thousand dollars Annually sounds like a dream come true For a lot of people That’s a lot of farmers That’s a lot of ranchers That’s a lot of small business people Because What you make and what you keep are two Very different numbers And how that’s quantified is very Important Business pro tip for a lot of y’all out There in the On the interwebs You should always pay all of your Teammates well you should pay them so Much that it hurts But there’s two people You pay More than they’re worth One is the person who runs your money And in this case does your taxes And the other Is your attorney Those two people You don’t want The groupon For Representation You don’t want the groupon for tax

Services You don’t want a 50 off deal On corporate attorneys Negative Those people you pay The most money that you can for the best Services that you can get Because A good tax person They might it might cost a thousand Dollars more to have your taxes done But they saved you 63 000 In tax burden Yeah Just a little pro tip for you Still the joint committee on taxation um Gosh Self-censoring Still the joint committee on taxation Has stated that the average tax rate for Nearly every single income category is Now expected to increase in the next 10 Years Mike crappo senator from idaho said Quote The democrats approach to tax reform Means increasing taxes on low and middle Income americans to fund their partisan Green New deal Americans are already experiencing the Consequences of democrats reckless Economic policies

The mislabeled inflation reduction act Will do nothing to bring the economy out Of stagnation and recession Agreed But will raise billions of dollars in Taxes on americans making less than four Hundred thousand dollars Nonpartisan analysts are confirming this Bill raises taxes on the middle class And produces no meaningful deficit Reduction when gimmicks are removed and The full cost is accounted for It’s no wonder this bill which was Drafted behind closed doors is being Rushed through the senate at record pace End quote So much for taxing the ultra wealthy to Help the little guy Those who disagree with the critics say That the corporate minimum tax of 15 Will apply to just 150 Corporations of the biggest corporations And that the closing of the carried Interest loophole would enable the bulk Of investment managers incomes to be Taxed at ordinary rates They also say that since the changes Should apply to corporations and not Workers wages Talk about a disconnect from reality And not workers wages it couldn’t Possibly affect smaller households Unfortunately That blatantly fails to account for the

Fact that small businesses exist Small corporations Are very real Very important And very valuable The statistics commonly show that eighty Six point three percent of small Business owners Make under one hundred thousand dollars Annually About thirty nine percent of small Businesses make a revenue of under two Hundred fifty thousand dollars and small Businesses with no employees average an Annual revenue of under fifty thousand Dollars Just under half Just under half Of all u.s employees Work for small businesses It’s a major player in the u.s economy Accounting for 45 to 50 percent of the Gdp gross domestic product per year Clearly what impacts those 27 million Small businesses will ultimately affect Everyone Put out a new Campaign-esque Release media piece uh Sky news australia Had it posted up which is fun to watch Because it gives you a little bit of a Different perspective when the Australians are watching the americans

And They’re ragging on us Ufta Oh how far we have fallen And I’m no Worshiper of men But even i was watching that Trump campaign piece going Yeah Yeah man You’re a hundred percent right [Music] We recommend you check it out The problem is this whole system is Going to hell in a handbasket anyway You can’t tax yourself out of a revenue Issue This has been tried typically the Democrats try that And or the the more liberal people Try that and the More conservative people Cut taxes Which greatly increases productivity Which Spurs the economy into action Which actually creates more tax revenue So we’re going the other direction with This tax everything tax everybody we can Don’t worry it’s just the richest one Percent blah blah yeah Do you know technically Technically

I’m in the richest one percent Technically Because i have Four businesses for american businesses We do bad ass things We save people’s lives I’m i’m the one percent I’m sitting in a walmart camping chair In front of some firewood Next to a barn that needs to get pushed Down with a dozer because it’s falling Apart I need to put a roof on my house and i Don’t know where i’m going to get the Money to put the roof on my house from This is not an oh woe is me thing i’m Just illustrating the point that when They talk about the wealthiest one Percent By the numbers I’m in that bracket I don’t have a yacht I don’t have a lambo I don’t have a condo I don’t even own a suit anymore Nor do i have any interest in those Things But the point is perception versus Reality when they talk about that Wealthiest one percent That’s anybody who on paper has earnings Greater than four hundred thousand Dollars per year I’m not rich

And i already pay A metric ton in taxes Don’t believe the hype I wonder why we need another 79.6 billion dollars for irs enforcement My guess is because a lot of people Aren’t going to want to pay it Or aren’t going to be able to Pay it We might just tax ourselves into another Great depression [Music] We’ve got a recession right now we keep Up these shenanigans Forget it One of the few wins for the american People that is actually in this bill is That medicare will finally be allowed to Negotiate drug prices Now here’s the issue with that Where these drugs manufactured Most of them china How’s that whole shipping from china Thing going right now Not so great the ccp is collapsing Bank runs People protesting in the streets Um It’s it’s not doing so hot over there And we are highly dependent upon china For manufacturing for everything from Gauze for hospitals To medicines to keep people alive The new bill caps out-of-pocket drug

Costs at two thousand dollars a year and Guarantees that those who are on Medicare will now no longer have to pay Any more than 35 dollars a month For insulin It’s worth noting that trump’s executive Orders had already accomplished a lot of This without burdening the american Taxpayer before biden struck those Executive orders down Now if you’re on patreon you’ve got the Links to all this if you’re not on Patreon you don’t there’s a link to Patreon in uh the description of every Video on live stream It’s five bucks a month you do ubu That’s where we’ll be i did an early Release on patreon this morning of why Armor for preppers is stupid Yeah That’ll post here on youtube too it’s Very rare where it posts on both Platforms but that’ll post here on Youtube too But uh Bear which plate carrier should i buy oh Man there’s so much more that goes into That question And then what really gets me is like i’m Trying to find plates for my kids where Can i find armor for my kids it’s like Maybe you should move If you’re that seriously concerned About bullets impacting your children

Maybe you live in the wrong effing place And it’s time to go Stop trying to buy your way out of the Problem i’ll just put some armor on my Kids and they’ll be okay your kids have A head right They have legs they have arms Okay just checking Anyway that video is on patreon this Morning we still have a live stream We do That’s good The hill has Some pretty good coverage explanation as To what’s going on With this bill I would recommend you check it out it’s In the links That’s posted on patreon But there’s A few main areas energy environment Energy and climate Tax credits are extended for energy Production and investment in Technologies including wind solar and Geothermal energies the investment tax Credit also now applies to battery Storage and bio gas Tax credits created for additional Technologies and energy sources Including nuclear energy hydrogen energy Coming from clean sources biofuels and Technology that captures carbon from Fossil fuel power plants

So green energy is not gonna Not gonna solve this for us And this is not like I read some articles and i listen to Some people talk about it like this was My job That’s what i did I was a project manager In the renewable energy sector Before that transmission distribution Power generation We’re gonna need to bring nuclear back Online we’re going to need to build out Nuclear in the united states of america Um They they the big day have been Systematically trying to bankrupt the Coal industry for decades But it really got bad under the obama Administration And it’s remained pretty bad since then Coal still accounts for 52 of the power Produced in this country Renewables somewhere around 10 In fact i just saw a thing where In illinois They’re building a 538 megawatt solar Array photovoltaic array How well you think that’s going to work In the winter When there’s snow on the panels Anybody thought about that Because they don’t work when they’re Snowing the panels

And a 538 megawatt array Being pretty considerable in size So bob and phil are gonna be out there With push brooms uh basically non-stop Keeping the panels clean It’s not gonna work It’s going to be a huge waste of money With the promise of offsetting carbon Emissions do you have any idea no most Of you don’t you ha you are clueless As to what the actual carbon footprint Of a renewable energy job looks like Every time we stand up a wind turbine Today Every time we put one up we are 18 years In the hole It takes Roughly 38 years to break even on the Carbon that was required to produce The steel and the copper and the Aluminum and the fiberglass that made That one wind turbine and the wind Turbine has a service life of 20 years We’re 18 years in the hole every time we Stand one up Cement portland cement Key component of concrete it’s the Number one producer on the face of the Earth steel aluminum and copper are all In the top 10. It’s the dumbest there ever was But people don’t understand it like oh It’s all about green energy and Renewables and you know offsetting our

Carbon footprint You would not believe How many trucks and pieces of heavy Equipment it takes to build one of these Jobs There’s nothing green about it What’s well what’s green about it is the Money that they’re extrapolating from You It’s just another Transfer of wealth You want power that works Nuclear it works Call works And if you’re In a windy place wind can work for you If you’re in a sunny place solar can Work for you Where renewables really work is on small Scale For a home For a small community for light Industrial for agricultural purposes They work great decentralized they work Great But on a utility scale Now not so much That’s because our battery and capacity Capacitor technologies Suck which is why This bill is trying to Create an onus for more investment in Those technologies through the use of Tax credits

It’s also dangerous To build out projects based upon tax Credits Because if the profitability of the Project Requires tax credits And this administration says oh yes we Have tax credits for wind turbines and Solar panels and blah blah blah blah Blah oh yes absolutely And then the next administration comes In and turns those things over the wind Energy tax credit do some more research Into that Guess what now your job’s not profitable Anymore the project that you built not Profitable anymore Because of the whims of a politician Point here is uh it’s all a bunch of Horse crap And They’re spending another 430 billion Dollars To line the pockets of their friends Extrapolate more wealth from the people And empower the irs to take more Taxation from people There’s nothing uh Reductionary Regarding inflation in the inflation Reduction act Not Surprised now if you are one of those People that jumps off when it’s time to

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