Wharton Study: Democrat Reconciliation Bill Would Have Zero Impact on Inflation

[mystery-ak]

Wharton Study: Democrat Reconciliation Bill Would Have Zero Impact on Inflation

Sean Moran29 Jul 20223
3:03

The Democrats’ marquee bill to reduce inflation would likely have zero impact on inflation, according to a study by the influential Penn Wharton Budget Model.

Senate Majority Leader Chuck Schumer (D-NY) and Sen. Joe Manchin (D-WV) unveiled the Inflation Reduction Act this week which they claim would combat climate change, extend enhanced Obamacare subsidies, and reduce the budget deficit by roughly $300 billion.

Manchin has harped on the need to curb inflation since he blocked the multi-trillion-dollar Build Back Better Act. Now, with the country in recession and Americans continuing to reel from inflation, Manchin hopes that the legislation could curb inflation and bring the country’s fiscal house back to order.

But the Penn Wharton Budget Model has poured cold water on the alleged disinflationary effects of the Democrats’ reconciliation bill.

Jon Huntley and John Ricco wrote that the bill “would reduce non-interest cumulative deficits by $248 billion over the budget window with no impact on GDP in 2031. The impact on inflation is statistically indistinguishable from zero.”

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https://www.breitbart.com/politics/2022/07/29/wharton-study-democrat-reconciliation-bill-would-have-zero-impact-inflation/

[LMAO]

I didn’t need a Wharton Study to tell me that

[IsailedawayfromFR]

Q: Karine Jean-Pierre, should be following the science?
A: No, we follow the politics.

[Bigun]

Wharton Study: Democrat Reconciliation Bill Would Have Zero Impact on Inflation

Like hell it won't! It will make it worse than it already is!

[catfish1957]

Like hell it won't! It will make it worse than it already is!

Exactly....

It will be the opposite effect.  The Pedo Joe WH has the economic accumen of 4th graders. 

Our buddy Ron had this clown car pegged at the onset.

[GtHawk]

Exactly....

It will be the opposite effect.  The Pedo Joe WH has the economic accumen of 4th graders. 

Our buddy Ron had this clown car pegged at the onset.

With democrats stupid is a feature not a bug.

[Kamaji]

With democrats stupid is a feature not a bug.

[Wingnut]

With democrats stupid is a feature not a bug.

Amen.

[libertybele]

Wharton School analysis finds Inflation Reduction Act will increase inflation until 2024, likely to have 'indistinguishable' effect on rising prices

Analysis from the Penn Wharton Budget Model – a nonpartisan group at the University of Pennsylvania's Wharton School – found that the Democrats' Inflation Reduction Act would have so little impact on inflation that the effects would be "statistically indistinguishable from zero."

The Penn Wharton Budget Model analysis questioned the benefits of the Democrat-backed Inflation Reduction Act, especially when it comes to reducing inflation – which is the alleged purpose of the bill.

"The Act would very slightly increase inflation until 2024 and decrease inflation thereafter," the study stated. "These point estimates are statistically indistinguishable from zero, thereby indicating low confidence that the legislation will have any impact on inflation."

The climate change and health care bill that will usher in $433 billion in new spending could add 0.05 percentage points to inflation until 2024, followed by an estimated 0.25 percentage point decrease in the Personal Consumption Expenditures price index by the late 2020s. ...............

https://www.conservativereview.com/wharton-school-analysis-finds-inflation-reduction-act-will-increase-inflation-until-2024-likely-to-have-indistinguishable-effect-on-rising-prices-2657778427.html

[cato potatoe]

Biden's tax hikes are part of a dopey moral crusade, and were never intended to reduce inflation.  Corporate profits are looted by the government.  That isn't step B on the way to step C.  It's their end game, their measure of success. 

The rest of the bill will cause inefficiencies elsewhere, and there again, no damns are given.

[Bigun]

Biden's tax hikes are part of a dopey moral crusade, and were never intended to reduce inflation.  Corporate profits are looted by the government.  That isn't step B on the way to step C.  It's their end game, their measure of success. 

The rest of the bill will cause inefficiencies elsewhere, and there again, no damns are given.

ALL of those taxes, and ALL the costs of compliance end up coming out of the pocketbooks of those consuming whatever the corporation produces.  The corporations do not and cannot absorb them. They MUST recover their costs, or they fail!

Our corporate income tax is functionally a subtraction method VAT! @cato potatoe