Showing posts from September, 2021

Jen Psaki Refuses to Acknowledge Economic Reality... Because She Thinks It's Mean

Ayn Rand famously quipped, “You can avoid reality, but you cannot avoid the consequences of avoiding reality.” White House Press Secretary Jen Psaki’s latest viral flub seems perfectly calibrated to confirm the late author’s wise words.    At a Monday press conference, Psaki was confronted by journalists citing data showing that House Democrats’ proposed tax increases would violate President Biden’s pledge not to raise taxes on anyone earning less than $400,000. In particular, 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.   “There are some... who argue that in the past, companies have passed on these costs to consumers,” Psaki said