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The new Inflation Reduction Act of 2022 comes as a promise to reduce the high inflation that the country is currently experiencing.
However, do we know if this bill could achieve its intended objectives?
In this episode, John Mints outlines the new Inflation Reduction Act and why it could significantly raise taxes and potentially have no effect on controlling inflation. In addition, he stresses the importance of being prepared for tax increases, especially during retirement.
John discusses:
- A summary of the Inflation Reduction Act bill and how much it could affect inflation
- Why consumer spending is not slowing down despite high inflation
- Why everyone might have to be prepared for a tax raise
- What baby boomers could do to avoid excess taxation and running out of money in retirement
- And more!