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:
Jen Psaki: It’s “unfair and absurd” that companies would increase costs for consumers in response to us taxing them more. ? pic.twitter.com/rHilrYdj4j
— Jason Rantz on KTTH Radio (@jasonrantz) September 28, 2021
You can depersonalize the theft by saying “Well, it’s corporate tax rates — greedy corporations, you know.”
You don’t need to be an economist to understand that corporate taxes, like any taxes, have to be paid by people: either shareholders, or employees in the form of lower wages, or customers in the form of higher prices. The money has to come from somewhere.