Contrary to its name, Berwick said the Inflation Reduction Act does the exact opposite and just "inflates and steals from everyone."
"The real name of the act should be Hyperinflation Inducement and Theft on a Massive Scale Bill," he commented. (Related: Democrats to give the IRS $80 billion to harass hardworking Americans with more audits and increased scrutiny.)
Berwick added that what Americans should remember about the Inflation Reduction Act is that it basically promises more government spending and higher inflation. Furthermore, it gives the Internal Revenue Service (IRS) $80 billion more in its budget over the next 10 years. This is to hire 87,000 new IRS agents to demand more taxes from hardworking Americans.
"That's just life in the U.S.A.," said Berwick. "They literally hired more people than there are in the Russian Army to extort people in the 'land of the free…' Slavery may change its form, or its name, but its essence remains the same."
Despite the Democratic Party's claims that it will not be raising taxes on middle-class Americans, Republicans have noted that the liberals will likely keep raising taxes until they are voted out of office.
Republican Rep. Bryan Steil of Wisconsin noted that House Ways and Means Committee Chairman Rep. Richard Neal of Massachusetts admitted as much.
Neal said in an interview with Bloomberg that, should the Democrats maintain control of the House and the Senate following the upcoming midterm elections in November, the party would seek to raise both corporate and individual tax rates. The party would also consider reviving previously proposed overhauls of the tax code to raise federal revenue and pay for its massive spending programs.
"For anybody that was even debating whether or not we should remove Speaker Nancy Pelosi from the speakership, now, they have further evidence," said Steil. "The Democrats are showing their cards that their plan is to continue to raise taxes and recklessly spend, which is a recipe for the disaster that we're already experiencing with runaway inflation."
"Remember, every consumer ends up paying those taxes," said Rep. Tom Emmer of Minnesota. "They can tax corporations and make these statements all they want, but it all gets passed through to the consumer on the street."
Rep. Kevin Hern of Oklahoma warned that raising taxes could also just force more businesses to move their operations overseas. "When you make it more difficult by increasing the tax rates, our businesses will go someplace where they can create a better environment for their workers."
"Congressional Democrats are one-trick ponies. Their solution to every problem is to tax more and spend more of other people's money," said Rep. Andy Barr of Kentucky. "Today's historic tax increase during a recession is just another example."
"The left's Holy Grail is tax hikes and more government control of our lives," said Rep. David Schweikert of Arizona. He added that people who still believe Democrats are not in favor of new tax hikes "haven't been listening."
Learn more about government overreach at BigGovernment.news.
Watch this episode of "The Dollar Vigilante" as Jeff Berwick talks about how the Inflation Reduction Act means more taxes for hardworking Americans.