Psaki refuses to acknowledge economic reality because she thinks it’s mean

FEE’s Brad Polumbo writes, “Multiple studies have shown that the proposed increase in the corporate tax rate from 21 to 26.5 percent would lead to lower wages for workers and higher consumer prices. (A de facto tax increase for those earning less than $400,000 if not technically a direct one.) The press secretary responded to the journalist’s query by downplaying the potential pass-along costs and simply declaring them immoral.

Ha… economic reality doesn’t care whether you think it’s mean or not ? https://t.co/DRlwAwW0Eg

— Brad Polumbo ??⚽️ ?️‍? (@brad_polumbo) September 28, 2021

'There are some... who argue that in the past, companies have passed on these costs to consumers,' Psaki said. 'We feel that that’s unfair and absurd and the American people will not stand for that.'

That’s nice. But the laws of economics are unmoved by Psaki’s personal condemnation, and Americans who will bear the real brunt of the tax hike proposals certainly care more about what the practical impact will be than the White House’s moral musings."

Read the entire column.