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Tax Expert: Biden’s Tax Hikes Will ‘Land On Most Vulnerable’ and Hurt Consumers and Workers

‘Corporations don’t pay taxes, consumers, shareholders and workers pay those taxes’
By Grabien Staff

EXCERPT:

HAWKINS: "No, I don't. And again, because those tax increases are gonna land on the most vulnerable. So, you know, when you look at that plan, and when you look at what’s been proposed in terms of the pay-fors, is you see significant corporate tax increases. And so those corporate tax increases make Americans less competitive internationally for one, and for two, those taxes are not landing on the corporations themselves. Corporations don’t pay taxes; consumers, shareholders and workers pay those taxes. Consumers in the form of higher prices, workers in the form of decreased job opportunities, and shareholders in the form of decreased share prices. And so, you know, that — you know, the pay-fors are the most problematic part. And when you look at what’s been happening in terms of inflation, that’s been a consistent theme throughout this hearing, because it’s so impactful on the lowest-income Americans. You know, we can’t level additional tax burden on top of that.”

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