I picked this part from the topic
Into that breach stepped President Biden—who promptly got his tongue tied. The president tweeted: “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.”
It is perhaps unsurprising that Biden would tout as a “solution” for inflation the exact same policies he has promoted since he began running for president. But given that most studies indicate that some portion of corporate tax increases get passed on to consumers in the form of higher prices or lower wages, Biden’s proposed “fix” would actually worsen the inflation squeeze on families.
At her first official press conference as White House press secretary, Karine Jean-Pierre was asked how Biden’s proposal to raise corporate taxes would tame inflation. Suffice it to say that the word salad that followed should not inspire confidence in this administration’s competence and knowledge of economic policy:
Q: But how does raising taxes on corporations lower the cost of gas, the cost of a used car, the cost of food for everyday Americans?
MS. JEAN-PIERRE: So, look, I think we encourage those who have done very well — right? — especially those who care about climate change, to support a fairer tax — tax code that doesn’t change — that doesn’t charge manufacturers’ workers, cops, builders a higher percentage of their earnings; that the most fortunate people in our nation — and not let the — that stand in the way of reducing energy costs and fighting this existential problem, if you think about that as an example, and to support basic collective bargaining rights as well. Right? That’s also important.
But look, it is — you know, by not — if — without having a fairer tax code, which is what I’m talking about, then all — every — like manufacturing workers, cops — you know, it’s not fair for them to have to pay higher taxes than the folks that — who are — who are — who are not paying taxes at all or barely have.
While the question focused on inflation, the answer (such as it was) discussed climate change and collective bargaining—topics only tangentially related to the price of goods