While FAIRtax Guy Bob Scarborough takes a vacation, CPA Jade Walle joins Bob Paxton for his quarterly “Walle’s FAIRtax World” on FAIRtax Power Radio. One of the items he discusses is the “Inflation Reduction Act”—a bill hammered out between West Virginia Senator Joe Manchin and Senate Majority Leader Chuck Schumer. It sounds like a good idea, until you realize that way too often, a bill in Congress actually has the exact opposite effect of what the name implies.
One of the provisions in the bill is a gargantuan increase in the IRS’ s budget which the bill’s crafters say is necessary in order to step up enforcement and collect the nearly $1 trillion a year lost to illegal tax evaders. Another provision is an increase in corporate taxes. With the precision of a surgeon, Jade dissects each of these provisions and exposes the faulty thinking behind them. Then he shows how the FAIRtax would actually solve the problem while saving us billions at the same time.
Catch this interesting and informative episode of FAIRtax Power Radio when it streams live on the FAIRtax Official Facebook page and the FAIRtax Guys YouTube channel Tuesday Aug. 9 at 8:00 PM Eastern time.