Inflation Reduction Act

Dear Editor,

The Inflation Reduction Act was cited by the nonpartisan Congressional Budget Office as a bill that would have little impact on inflation in this year and the next. Additionally, previous Castro Valley Forum letters explained that the proposal would increase auditing of the lower economic classes and pass increased corporation tax hikes onto consumers in the form of higher prices.

This legislation displayed the blatant disconnect the Biden administration has with the average American voter. The college bailout scheme, arguably worse than the Inflation Reduction Act, now solidifies the Democrat Party as an entity that is unconcerned about the financial plights of the lower to middle classes.

Those with college degrees, on average, have significantly higher salaries than those who did not attend college. Ironically, lower income earners without degrees will now have their tax money bailing out those who are positioned to procure substantially greater sums of money currently or in the future.

Democrats should heed the warning presented in Axios’ news article stating “The big picture: Republicans are becoming more working class and a little more multiracial. Democrats are becoming more elite and a little more white.” (Axios,“The great realignment” 7/14/22). Though I will not automatically vote for candidates with an “R”, I will issue my own warning: the Democrat party must reform their economic ideas immediately or they will be perceived as the new elite overlords.

–Wing Yun Ho, Castro Valley