Economic illiterate Jen Psaki, White House press secretary, stated Monday that the White House believes it is “unfair and absurd” if businesses raise prices in response to the Biden administration increasing corporate tax liability.
The increase will kill many businesses and make us non-competitive with China and the EU.
Most absurdly, the Biden administration has also been pushing the absurd claim that its $3.5 trillion spending bill actually “costs zero dollars.” They argue that tax increases will offset spending. No one is falling for that, including Biden’s own government analysts.
Psaki during Monday’s White House press briefing, analysis from the Joint Committee on Taxation says the spending bill would result in tax increases for “more than 16% of taxpayers.”
That’s not counting increased costs across the board — WHICH ARE TAXES.
“The president’s commitment remains not raising taxes for anyone making less than $400,000 a year,” Psaki said.
“There are some — and I’m not sure if this is the case in this report — who argue that, in the past, companies have passed on these costs to consumers. I’m not sure if that’s the argument being made in this report,” she continued. “We feel that that’s unfair and absurd, and the American people would not stand for that.”
Is she nuts!
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Jen Psaki: It’s “unfair and absurd” that companies would increase costs for consumers in response to us taxing them more. 😳 pic.twitter.com/rHilrYdj4j
— Jason Rantz on KTTH Radio (@jasonrantz) September 28, 2021
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