Welcome to another T-Rex talk. Today we're going to be talking about death and taxes. Actually, we're not really going to be talking about death, except for the fact that taxes, kind of in their own way, actually, are death, death to a number of businesses, a number of business ideas, particularly our current tax system. The reason I'm talking about taxes, thinking about taxes, is last week

the federal legislature passed the Inflation Reduction Act, which I don't really follow

exactly how it's going to reduce inflation, but it is going to increase federal revenue by

an expected $740 billion, mostly by

changing tax code. Technically, this is not as bad a bill as it could have been. This is essentially

a pared down version of the build-back better bill. Brought to you by the Biden administration

and also the letter B, that was going to be a

considerably more expensive bill. This bill actually intends to generate some revenue by increasing

significant tax penalties on oil and gas, but also, interestingly enough, on drug manufacturers.

Something happened over the last couple of years that caused drug

manufacturers, especially manufacturers that made injectable drugs to make a ton of money, way, way,

way, way more money than they usually make, thanks largely to government programs. And now the

government actually wants some of that money back. So

theoretically there's going to be significantly increased taxes on certain pharmaceutical companies.

And there's going to be increased tax rates for those companies that are over a billion dollars in

profits. This is pretty much in line with all the talk about increasing taxes on billionaires so that they can pay everybody

else's fair share, even though there's only a few hundred billionaires in the United States

and a lot, a lot of very expensive government programs that they would have to cover pretty much

single-handedly at this point. Because the Inflation Reduction Act doesn't just generate revenue, it also

costs quite a bit because it offers a whole bunch of tax credits for various green energy,

and it also offers a bunch of tax credits for Medicare type stuff. So that's how a lot of those

pharmaceutical companies can make their money back after the

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