Psaki on Corporations Raising Prices Due to Higher Taxes: Biden Believes People Know They Don’t Need

[mystery-ak]

Psaki on Corporations Raising Prices Due to Higher Taxes: Biden Believes People Know They Don’t Need to Raise Prices

Ian Hanchett 19 Mar 2021

During an interview aired on Thursday’s “MSNBC Live,” White House Press Secretary Jen Psaki reacted to concerns that corporations will raise prices if taxes on corporations are increased by stating that President Joe Biden believes people “know that corporations do not need to raise the cost of goods in order to pay more taxes and pay more of their fair share.”

Host Hallie Jackson asked, “Of course, he could only do so much if corporations end up raising prices on things if they end up having a tax hike as well, right?”

Psaki responded, “He also believes that the American people are smart. They’re invested in this. They’re going to pay attention and that they know that corporations do not need to raise the cost of goods in order to pay more taxes and pay more of their fair share.”

https://www.breitbart.com/clips/2021/03/19/psaki-on-corporations-raising-prices-due-to-higher-taxes-biden-believes-people-know-they-dont-need-to-raise-prices/

[PeteS in CA]

Ya know, I think LIEden really is that cluelessly stupid. You'd probably have to dig pretty deep into the LIEden lowerarchy to find someone who has actually managed or started a business.

[andy58-in-nh]

I cannot decide whether these Democrats are economic illiterates or simply lying.

Are they so far removed from any private sector experience that they do not actually know that corporations pay taxes as an expense, precisely the the same as labor, materials and rental costs?

If it is a cost of doing business, it will be reflected in the price of finished goods and services.

Companies are not going to put themselves at a competitive disadvantage or reduce their profitability because some idiots or thieves think that corporations should be paying a "fair share" - which is, of course a meaningless and undefinable phrase used by Progressives as a bullying tactic.

Instead, they will seek to cut costs elsewhere - employee salaries may be frozen or reduced, and expansion plans delayed, and service prices or fees may have to go up. 

How is that good for the consumer?

[Sled Dog]

Rodents.

And it doesn't matter what Biden is told to say, he's incapable of thought.

Time for the review, class.

Businesses DO NOT pay taxes.

Businesses COLLECT taxes from their customers and pass them on to the government.

A tax on a business is a hidden tax on the consumer.

[GrouchoTex]

Rodents.

And it doesn't matter what Biden is told to say, he's incapable of thought.

Time for the review, class.

Businesses DO NOT pay taxes.

Businesses COLLECT taxes from their customers and pass them on to the government.

A tax on a business is a hidden tax on the consumer.

Absolutely correct.
I am amazed that more people do not understand this.

[Polly Ticks]

My eyeballs just rolled so hard I think I sprained my face. 
This should be a Babylon Bee headline instead of an actual quote.

[GrouchoTex]

My eyeballs just rolled so hard I think I sprained my face. 
This should be a Babylon Bee headline instead of an actual quote.

Funny how the 2 things you've mentioned are getting harder and harder to distinguish from one another.

[catfish1957]

Stupid bitch.  Passing on price increases imposed by a stupid government has been a long standing and consistent process for as long as I can remember.

This deflective cow needs a harsh taste of reality,

[Wingnut]

My eyeballs just rolled so hard I think I sprained my face. 
This should be a Babylon Bee headline instead of an actual quote.

It is the same logic they use when they say a $15 an hour wage will not raise the cost of goods or services an employer offers.   Nor will they have to lay-off employees because of the wage increase.

 

[Bigun]

Rodents.

And it doesn't matter what Biden is told to say, he's incapable of thought.

Time for the review, class.

Businesses DO NOT pay taxes.

Businesses COLLECT taxes from their customers and pass them on to the government.

A tax on a business is a hidden tax on the consumer.

  Thank you!  I have been trying to get this understood for years and it's nice to see some results!

[LMAO]

In her defense, it’s her job to simply repeat the Administration’s position.

And we have a very economic illiterate administration

[bilo]

The biggest mistake we on the right make is to underestimate the leftists. They know exactly what they are doing.

Raising taxes drives prices up and makes it harder on people to pay for necessities, let alone luxuries, especially when wages stagnate because of an increased supply in the labor market. All the misery leads to the solution they are only to happy to provide, expanded govt. regulation over private business. Of course in addition to increased govt control over our lives comes the added benefit of new blocks of govt dependent people and voting blocks for the Rats.

I wondered for a long time why the leftists were so interested in getting DA's elected who are soft on crime and hard on law enforcement. Then it hit me, the more lawlessness they help create the greater the call for gun control/confiscation and govt. control. Raising taxes accomplishes similar goals.

[cato potatoe]

She double majored in English and Sociology.  Her daddy was a real estate developer.  I bet she has daddy issues ... otherwise, he could have helped her with stuff like this.

[GtHawk]

I would love to hear her at the grocery checkout, any retail location or service/repair provider expounding on how the prices are too high and why they shouldn't be. Psaki should stop taking economic advice from AOC. Which brings up where the heck has AOC been lately, she's been quiet, too quiet

Look we all know what the real answer is from democrats, it's always TRUMPS FAULT

[Smokin Joe]

Thank you!  I have been trying to get this understood for years and it's nice to see some results!

Oh, C'mon, Man! It only works that way in the real world, not in the La-La Land school of economics, powered by fairy dust and unicorn farts.

[Sled Dog]

Another quick question:

Given that it's totally obvious that a tax hike on American businesses will result in higher prices to the consumer and slow down the economy, and it's been obvious since the JFK tax cuts of 1962, why do the Rodents this day insist on raising corporate taxes?

Best guesses:
1) They're idiots.
2) They're traitors.
3) Higher taxes will cause smaller businesses to fail, so bigger businesses are partial to them for that reason.
4) Businesses also get to hold the funds collected and earn the short-term interest...so bigger businesses are again partial to the idea.
5) Higher corporate taxes makes the US less competitive and China LOVES that.
6) Rodents like to steal money, "from whatever source derived".   

And #6 is the main reason for their theivery.

[Sled Dog]

Thank you!  I have been trying to get this understood for years and it's nice to see some results!

People are so damn stupid.   They drink the Kool-aid and don't understand why they stay sick.

I know otherwise perfectly intelligent people who voted for a drunken corrupt harridan in one election, were flabbergasted that the patriots won the superbowl....er election, and after four years of success from Trump, voted for a brain-dying child-botherer and a whore.

Telling them something as basic as how business taxes work is useless.   Trying to tell them anything more complicated, like how the government shouldn't be taking money straight from anyone's paycheck, and it's impossible.

People should be paying taxes like they pay rent and their electric bills.   By writing a check each month, so they can feel the true size of the bite.

[Bigun]

People are so damn stupid.   They drink the Kool-aid and don't understand why they stay sick.

I know otherwise perfectly intelligent people who voted for a drunken corrupt harridan in one election, were flabbergasted that the patriots won the superbowl....er election, and after four years of success from Trump, voted for a brain-dying child-botherer and a whore.

Telling them something as basic as how business taxes work is useless.   Trying to tell them anything more complicated, like how the government shouldn't be taking money straight from anyone's paycheck, and it's impossible.

People should be paying taxes like they pay rent and their electric bills.   By writing a check each month, so they can feel the true size of the bite.

People should be paying taxes on what they consume rather than what they produce. The current progressive income tax scheme is inherently Marxist.

[LMAO]

“We can ignore reality, but we cannot ignore the consequences of ignoring reality.”  Ayn Rand

[mountaineer]

Cannot confirm the truth of this assertion, but given the increase in transportation costs, I wouldn't be surprised:

Conservative Girl
@politicalgirl06

Lumber is up from 8 dollars a square foot to 18.00 a square foot which means that a 3000 square foot home is now 30,000 dollars more to build from January 1st 2021. This could also be why delivery for furniture is now taking months. Thanks, Biden voters.

10:08 AM · Mar 19, 2021

[BassWrangler]

I cannot decide whether these Democrats are economic illiterates or simply lying.

Are they so far removed from any private sector experience that they do not actually know that corporations pay taxes as an expense, precisely the the same as labor, materials and rental costs?

If it is a cost of doing business, it will be reflected in the price of finished goods and services.

Companies are not going to put themselves at a competitive disadvantage or reduce their profitability because some idiots or thieves think that corporations should be paying a "fair share" - which is, of course a meaningless and undefinable phrase used by Progressives as a bullying tactic.

Instead, they will seek to cut costs elsewhere - employee salaries may be frozen or reduced, and expansion plans delayed, and service prices or fees may have to go up. 

How is that good for the consumer?

Well said.

[BassWrangler]

And don't forget : every additional dollar in taxes that a US business is forced to pay is one additional dollar of advantage that non-US companies have in advantage. Want companies to bring manufacturing back from China? Then lower US business taxes. If you insist on raising taxes, raise the individual tax rates or consumption based fees. Corporate taxes are assanine. The reason Democrats like them is its a way for them to hide the negative impact of taxes from the idiots who vote for  Democrats.

[Sled Dog]

People should be paying taxes on what they consume rather than what they produce. The current progressive income tax scheme is inherently Marxist.

I'm all in favor of repealing the 16th Amendment and implementing a national retail-level sales tax. 

NOT a VAT, which is a hidden tax, but a tax at the point of sale to the retail consumer.

But the beauty of a retail level sales tax is many.  If done correctly, the states would collect the taxes by adding a simple line onto the taxes they already impose on businesses.   Then the IRS would be limited to auditing the state processes, not the individual businesses.  Much easier to track 50 states than 300 million  citizens and 35 million illegal aliens.  The IRS would shrink and those former employees would have to contribute to society or starve, finally.

People who have more money buy more stuff, pay more taxes.

People who want to save money pay less taxes.

Welfare maggots would lose the EITC scam, and would have to pay federal taxes like they're supposed to.   

The federal government no longer tracks who's employed or where.  Definitely not their need to know.

Food and medicine would not be taxed, of course.



 

[GrouchoTex]

People should be paying taxes on what they consume rather than what they produce. The current progressive income tax scheme is inherently Marxist.

Absolutely.

[Bigun]

I'm all in favor of repealing the 16th Amendment and implementing a national retail-level sales tax. 

NOT a VAT, which is a hidden tax, but a tax at the point of sale to the retail consumer.

But the beauty of a retail level sales tax is many.  If done correctly, the states would collect the taxes by adding a simple line onto the taxes they already impose on businesses.   Then the IRS would be limited to auditing the state processes, not the individual businesses.  Much easier to track 50 states than 300 million  citizens and 35 million illegal aliens.  The IRS would shrink and those former employees would have to contribute to society or starve, finally.

People who have more money buy more stuff, pay more taxes.

People who want to save money pay less taxes.

Welfare maggots would lose the EITC scam, and would have to pay federal taxes like they're supposed to.   

The federal government no longer tracks who's employed or where.  Definitely not their need to know.

100% agreement across the board!

Food and medicine would not be taxed, of course.

The instant you exempt anything you open the door for the K Street crowd to continue their operations! Far better to let each individual decide for themselves what their necessities are IMHO.

https://fairtax.org