[OPINION BY TOPE FASUA] US inflation reduction act 2022: Lessons for Nigeria's war on inflation | TheCable
To build a nationwide network of Electric Vehicle chargersTo invest in new clean energy and emissions reduction technologyTo create new, high-quality jobs – including union jobs – with good benefits and supportive services that build pathways for the middle class
The act establishes 15% minimum corporate tax for large companies that report more than $1 billion in income annually. $222 bn taxes is expected to be raised therefrom. To ensure that drug companies that raise prices faster than the rate of inflation must pay rebates to the government for the price difference.To ensure that $52 billion is recouped from limiting lost revenues to private equity companies by limiting loss deductions from revenues
The point I am struggling to make is for us to see that the thinking around inflation has changed. Even the most capitalist nations are taking what may be termed as ‘activist’ measures. I mean, look at numbers 13 -17 above, and even 19 and 20! You couldn’t make this up.
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