Politics

Psaki says it’s “unfair and absurd” that companies raise prices on consumers to counter higher taxes

White House Press Secretary Jen Psaki claimed during Monday’s press briefing that it would be “unfair and absurd” for companies to raise costs on consumers in response to the Biden administration raising the corporate tax rate.

Psaki made the remarks during the following interaction with a reporter. The reporter asked: “I want to ask you about what Republicans are pointing to in the analysis from the Joint Committee on Taxation. They say, according to — if I’ve read the chart correctly, more than 16 percent of taxpayers would see their taxes increase under the bill that’s approved by the House Ways and Means Committee. Will the President sign that bill if — as if — it is coming out of that committee? Or will he insist on the changes so that he will maintain his commitment that taxes won’t go up on people making $400,000 a year?”

Psaki replied: “I have not looked at the document or the report that you have put out. Obviously, the President or that you have referenced, I should say that the Republicans put out. Obviously, the President’s commitment remains not raising taxes for anyone making less than $400,000 a year.”

Psaki continued: “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. We feel that that’s unfair and absurd, and the American people would not stand for that.”

Forbes added that it was “important to remember that corporate taxes must be paid by people,” the report said. “Any corporate tax increase will be paid by either shareholders/owners, employees in the form of lower wages, or customers in the form of higher prices.”

ARTICLE: PAUL MURDOCH

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: THE BLAZE

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Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

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