‘Statistically Indistinguishable From Zero’: Ivy League Analysis Shreds Biden’s ‘Inflation Reduction Act’

A new analysis concludes that the “Inflation Reduction Act” wouldn’t reduce inflation at all.

Shakespeare once famously wrote that “a rose by any other name would smell just as sweet.” Well, in the same way, a turd by any other name still smells like shit.

That’s why President Biden and Congressional Democrats’ new “Inflation Reduction Act” is still such terrible legislation despite it being named after inflation reduction, something we desperately need right now. As I explained yesterday for BASEDPolitics, it’s actually partisan bill that would waste hundreds of billions on green energy subsidies and big government healthcare schemes while hiking taxes on businesses and workers at the worst possible time (as we enter a recession). I also argued that it wouldn’t have any real impact on inflation.

But now you don’t just have to take my word from it. A new analysis from researchers at the Wharton School of Business concludes that the “Inflation Reduction Act” wouldn’t reduce inflation at all.

“The Act would very slightly increase inflation until 2024 and decrease inflation thereafter,” the Ivy-league analysts report. “These point estimates are statistically indistinguishable from zero, thereby indicating low confidence that the legislation will have any impact on inflation.”

The Wharton analysis also notes that the legislation would have zero—yes, zero—impact on economic growth by 2031.

This all stands in stark contrast to the president’s lofty promises and the legislation’s optimistic name. But a turd by any other name is still a turd.

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Brad Polumbo
Brad Polumbo
Brad Polumbo is a libertarian-conservative journalist and co-founder of Based Politics. His work has been cited by top lawmakers such as Senator Rand Paul, Senator Ted Cruz, Senator Pat Toomey, Congresswoman Nancy Mace, Congressman Thomas Massie, and former UN Ambassador Nikki Haley, as well as by prominent media personalities such as Jordan Peterson, Sean Hannity, Dave Rubin, Ben Shapiro, and Mark Levin. Brad has also testified before the US Senate, appeared on Fox News and Fox Business, and written for publications such as USA Today, National Review, Newsweek, and the Daily Beast. He hosts the Breaking Boundaries podcast and has a bachelor’s degree in economics from the University of Massachusetts Amherst.

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