President Biden took to the podium today after the reports show that US Economy for two quarters of negative growth to dismiss talk of the United States being in a recession. Rather the President offered details on the Inflation Reduction Act of 2022 that he is full support of according to his speech earlier today. WATCH IT HERE
What is not understood at the moment is how more spending through the “Inflation Reduction Act” will help with inflation. The act makes a daring attempt in saying it will enforce corporate tax minimum of 15% stating in the summary that over 200 corporations use tax loop holes that avoid paying the current statutory 21% corporate tax rate. The enforcement of the 15% percent minimum corporate tax will start after December 31, 2022 according to the summary released. SUMMARY ATTACHED BELOW
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