Billionaire CEO slams inflation reduction bill

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Billionaire CEO slams inflation reduction bill

Billionaire CEO and Chairman of the United Refining Company John Catsimatidis criticized the Inflation Reduction Act ahead of the House vote on increasing IRS auditors and burdening consumers. Catsimatidis argued the move to increase IRS auditors will make unions happy, but target middle-class Americans' wallets.

SPENDING, GOOD IDEA JOHN CATSIMATIDIS: Forbes says there are about a thousand billionaires in our country. You need a thousand agents for 3,000 billionaires. They're going to go after the Uber drivers are not reporting their tips. They're going to go after the taxi drivers, the waiters not reporting their tips. They want to raise prices on pharmaceuticals, which solves problems. We want our pharmaceutical companies to do well, because we want solutions to future diseases. When you raise prices on the pharmaceuticals, they're going to reflect it to the consumer. Who are they making happy? They are not saying this. The 84,000 IRS guys are making their unions happy because the unions were going to have 84,000 new members. It all goes back to who the bells are toll. I'm not against unions, but nobody is saying it. Nobody is saying it.