Biden's tax plans

Psaki says it's absurd to think corporations would raise prices for consumers due to higher taxes.

Frederick Hayak said, many years before, if socialists understood economics they wouldn't be socialists.

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JoeyFoxx · 51-55, M

Government raises taxes
Company raises prices
Company pays more taxes…

Tarriffs may result in higher prices

Taxes do not have a direct impact on prices.

IronHamster · 56-60, M

@JoeyFoxx A company is in business to make a profit. If you tax a product, the company either raises prices or ceases to make that product. Imagine going to work and not getting your pay. How long would you do that?

JoeyFoxx · 51-55, M

@IronHamster can you explain to your readers the concept of supply and demand as it pertains to price elasticity?

IronHamster · 56-60, M

@JoeyFoxx That's your topic. Obviously you cannot explain motivation.

QuixoticSoul · 41-45, M

@IronHamster Profit is unnecessary as far as motivation goes.

JoeyFoxx · 51-55, M

@IronHamster what’s obvious is that you don’t understand how economics works

IronHamster · 56-60, M

@QuixoticSoul AMZN is a great example of a company reinvesting in itself.

QuixoticSoul · 41-45, M

@IronHamster Yes.

How do corp tax rates prevent this reinvesting, considering their essentially zero tax exposure?