I picked this part from the topic<\/p>\n\n\n\n
Into that breach stepped President Biden\u2014who promptly got his tongue tied. The president tweeted<\/a>: \u201cYou want to bring down inflation? Let\u2019s make sure the wealthiest corporations pay their fair share.\u201d<\/p>\n\n\n\n It is perhaps unsurprising that Biden would tout as a \u201csolution\u201d for inflation the exact same policies he has promoted since he began running for president. But given that most studies indicate that some portion<\/a> of corporate tax increases get passed on to consumers in the form of higher prices or lower wages, Biden\u2019s proposed \u201cfix\u201d would actually worsen the inflation squeeze on families.<\/p>\n\n\n\n At her first official press conference as White House press secretary, Karine Jean-Pierre was asked how Biden\u2019s proposal to raise corporate taxes would tame inflation. Suffice it to say that the word salad that followed<\/a> should not inspire confidence in this administration\u2019s competence and knowledge of economic policy:<\/p>\n\n\n\n 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?<\/p> MS. JEAN-PIERRE: So, look, I think we encourage those who have done very well \u2014 right? \u2014 especially those who care about climate change, to support a fairer tax \u2014 tax code that doesn\u2019t change \u2014 that doesn\u2019t charge manufacturers\u2019 workers, cops, builders a higher percentage of their earnings; that the most fortunate people in our nation \u2014 and not let the \u2014 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\u2019s also important. While the question focused on inflation, the answer (such as it was) discussed climate change and collective bargaining\u2014topics only tangentially related to the price of goods<\/p>\n\n\n\n
But look, it is \u2014 you know, by not \u2014 if \u2014 without having a fairer tax code, which is what I\u2019m talking about, then all \u2014 every \u2014 like manufacturing workers, cops \u2014 you know, it\u2019s not fair for them to have to pay higher taxes than the folks that \u2014 who are \u2014 who are \u2014 who are not paying taxes at all or barely have.<\/p><\/blockquote>\n\n\n\n