The Inflation Reduction Act recently passed by Congress is a totalitarian piece of legislation that brings America further down the road to totalitarian socialism, said free-market economist Thomas  DiLorenzo.
New government spending estimated at $737 billion included in the recently passed Inflation Reduction Act “will increase demand in the economy,” DiLorenzo told EpochTV’s “Crossroads” program on Aug.10.
The bill provisions tax hikes and “hundreds of additional regulations, especially on energy,” so the combination of increased demand in the economy and decreased supply will cause prices to go up, not down, he explained.
“It has nothing to do with fighting inflation. … It’s basically the Green New Deal in disguise, sort of a Trojan horse.”…