The Inflation Reduction Act: Another Unfair and Unjustified State Intervention

Source: Ludwig von Mises Institute
by Finn Andreen

“Taking advantage of their current majorities in Congress, which might not last beyond the midterms, and after eighteen months of marathon negotiations, the Democrats finally passed yet another plan to artificially and unfairly dope the US economy. The $430 billion plan was signed into law by President Joe Biden soon after. Indeed, after the midterm elections of November 8, 2022, few believe that the Democrats will keep their legislative majorities, given the so far disastrous presidential term of the Biden administration. Suffice it to recall that President Biden seems to be senile, that Washington is fomenting and financing major crises around the world that do not even benefit the American people, and that the Consumer Price Index in the USA (the CPI) has been rising sharply since 2021.” (09/21/22)