Huh? Where did the Fed get mentioned by anyone? Biden's statement said that we could lower inflation by making corporations pay their fair share in taxes. That was the statement. Who mentioned Fed rates?
Fox has its own ecosphere and reporters with any self worth end up disgusted with Fox. But he has some people to look up to that we’re mainstays at Fox like Chris Wallace or Carl Cameron. World class journalists who couldn’t stand being part of such a sham. I got hope for Ducey Jr. He is probably watching that clip taking the new press Secretary to town on repeat. It can feel good not to be a clown.
I mentioned Fed rates for comparative purposes to try to give you some deeper understanding of what Biden is talking about. Obviously it went right by you. I will say it again, Raising taxes is a legitimate means to dampen demand which will combat inflation. It’s exactly the same principle as raising Fed rates. Both would reduce money in circulation and slow velocity.
Dude, its ok to sometimes admit you missed something instead of trying to pull some weird crazy shit like you just wrote out of your ass. We're all human. "Raising taxes on corporations dampens demand which will combat inflation". Uh huh. And you got that crazy ass shit from that tweet Biden wrote. And he - assuming you were even remotely correct with what you claim he meant - couldn't spell that out any clearer, because being enigmatic is the way to communicate to the electorate. Because higher tax burdens won't just make corporations pass more pricing on to consumers in an attempt to recoup margins. Right. And even if all of this horseshit were on target (lol) then why didn't our new press secretary just say it like that? Sure, we'd have a whole set of different laughs - but still. Live shot of your financial advice at work:
Sorry buddy but you’re the one lost here. Same thing happened with the other Biden quote you posted about the Powell statement on “strong inflation.” You’re just not keeping up with the world around you. However, you can certainly disagree with the theory that raising taxes will dampen demand. I don’t. A dollar out of circulation is a dollar out of circulation. Taking money out of circulation will technically reduce the M2 money supply and slow velocity. It doesn’t matter where it comes from, corporations, consumers, fixed incomes. A dollar out is a dollar out.
Raising taxes on individuals will certainly decrease demand, which will lead to lower prices. Raising taxes on corporations will have corporations compress margins and raise prices. That's just how it works, buddy. Higher costs to corporations results in higher costs to people (higher inflation). You can argue that someday, somewhere, this translates to lower demand down the road, but that isn't at all what Biden was saying. He tried to tie taxes at the corporate level to direct inflation lowering, and then you brought the Fed in raising rates as some weird gymnastics lunacy to say that this was what Biden meant. Tighter monetary policy puts pressure on lending which dampens borrowing and can definitely lead to lower demand (the whole point of monetary policy). But if Biden was talking about higher rates, he should have just said so. It's very obvious to all (but the most partisan like yourself) that this tweet was most likely written by a staffer that had no quality control and the presser showed it when our new press sec tried to stumble her way through defending it. And then you come along with such a horseshit response as to make Piezoe's economic analysis look like Friedrich Hayek. hahaa.....
I can only help you so much. You are welcome to disagree as I said but supposing what a staffers quality control is isn’t exactly sound reasoning I’m willing to follow. Piezoe is actually a well educated and thoughtful person who knows what he is talking about.