Joe Biden and his administration have taken a new path to try and appear sympathetic towards the American people. The Democrats are working overtime to put America under financial stress. They want to spend trillions of dollars for their socialist programs. And to create the money for their atrocious plan, they will have to raise taxes on businesses and the population.
But in a twisted conversation, Jen Psaki, who is the White House Press Secretary, alluded those businesses should not be passing the added cost of higher taxes onto the American consumer. She is making it sound like the companies have all the money in the world to absorb the insanity being pushed on them from Biden’s administration.
During a press speech, Psaki was asked by a reporter about the increase in taxes. For once, a reporter was digging deep and trying to find out the motive behind an excessive tax burden that was about to be unleashed on the country.
The reporter stated, “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?”
The challenge has been made, and now everyone watched to see if Biden’s mouth would be truthful as she would answer. Her answer quickly pointed out that the document being referenced was not put out by the White House but instead the Republican Party. So, she is saying that the report cannot be trusted because it did not come from a Democrat.
She claimed that the President is not going to tax any person making less than $400,000 per year. She then went on to play the stupid card by making it seem like fiction that companies pass expenses onto the consumer. Companies make money by charging customers a set price, and if the cost to make the item goes up, the consumer will pay more. Psaki and Biden flunked economics class.
Businesses do not have money simply because they exist. They make money by selling goods and services to people. The federal government taxes that money to function. But when those taxes get too high, the consumer will have to pay more for the item so the company can stay in business. And here, the nation can see inflation and prices go up because of the greed of the Democratic Party.
Psaki was quick to blurt out that “We feel that that’s unfair and absurd, and the American people would not stand for that.” But they feel it is justified to tax people to death and then tax them after death. So, her words of affirmation are pointless.
Forbes stated that people have to remember that “corporate taxes must be paid by people. 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.” And here lies the base of economics.
The Republican Party is not pointing the finger at anyone and making pointless accusations, and they are pointing out the lies coming out of the White House.
Joe Biden wants to make life terrible for people by taking all their hard-earned money and making it his own. Robinhood strikes again by robbing the rich and giving too lazy because they have bought into the liberal poison that everyone is “entitled” to have what they did not work to earn.
The President may not want to raise taxes on the poor right now, but there is coming a day when he will. The Democrats will keep passing their trillion-dollar agendas, and they will pass the cost onto the people, just like what companies do to stay open for business.
But at some point, the amount of money the Democrats will want will exceed what people can pay. Which in turn will put the country in a position of choosing to exist or self-destruction.