Inflation an 'attack on America': Billionaire supermarket owner

https://www.foxbusiness.com/busines...tack-on-america-billionaire-supermarket-owner

HYPERLINK above has full article

snip

"It’s not the rich that are getting hurt," Catsimatidis said. "It’s the poor and the middle class in America that will be hurt because of inflation."..................

The Labor Department reported that the price of gas increased 41.8% from the year before and that the price of food increased by 3.4%........................................

"We’re transferring a lot of wealth because of inflation," he argued, adding that revoking the permit for the Keystone XL oil pipeline project has also contributed to the problem.

"Instead of the United States selling oil production to the world, it’s going to be Russia, OPEC selling oil production to the world," Catsimatidis said. ..............


He also argued that "Washington is lying to the consumer."

"They’re saying that we are going to increase taxes on corporations, we are going to increase taxes on the rich, but when you increase taxes on the corporations, guess what? Those corporations increase their prices and reflect it to the consumer," Catsimatidis stressed.

end snip

Time and again we are told by the Democrat machine (media included) that taxes on corporations and cancelling pipelines and oil leases do not affect the avg person.

Each time they are wrong.

I've no clue why Democrat voters refuse to understand how their Democrat votes hurt the common folk.

 

But the most important aspect must be remembered....NO MEAN TWEETS! Now don't we all feel better even though our money buys less with every passing day?

 

The people who voted based on this are the lowest of the low information voters. They shouldn’t even be allowed to vote if they base their votes on the fact someone is a meanie.

 

it is not up to us to decide who can or cannot vote. If they are legal to vote, then they can. Sadly, the media is Democrat based so truth died a long time ago

Democrat votes have consequences

 

Why is it when taxes on corporations are cut they do not lower their prices and reflect it back to the consumer?

 

nah, they invest which brings revenue to suppliers who hire people who pay taxes

A rising tide lifts all boats- a capitalist approach

inflation= Democrat votes have consequences

 

Because they don't have to and their aim is maximum profit. Hopefully I didn't really need to tell you that.

 

They also do not have to raise prices when taxes go up.

But as you pointed out, all they care about is profit, so it is a bit disingenuous to not put any of the blame of rising prices the corporations.

 

Great.
Another RW OPINION Article posted in the WRONG Section?

This is his OPINION:

"He argued"

"Catsimatidis argued"

"He also argued"

Anyway, on-topic, the guy is entitled to his OPINION.

I disagree with many of his points, but he is entitled to his OPINION.

 

After the Trump corporate tax cuts you saw full employment and wages were rising faster for blue collar workers, minorities, and women faster than it has in decades. I know the left wants to ignore that but it's a direct correlation. Stats are always just pick and choose, the easiest ways to look at is, if you tax the rich more and leave the loopholes you have accomplished little. If you tax corps more and Mexico or any other country is half lower, the big boys move. The only ones that realize the tax are the mom and pops and those prices will go up to offset any additional tax hurting the consumer. That's the reality and if they don't they fail. The sweet spot for American employment is competitive corp tax along with reasonable loop hole closures. You will never see it because every politician is bought and paid for. Just look how rich the career politicians are on the 200k salaries.

 

True...
Getting rid of Trump was Paramount...
Regardless of the fallout...

Trump was THAT Hated...

 

It's no different for you, are you personally willing not to take a write off to pay more taxes? Corporations are everyday americans that own stock big and little, none of us want to pay more than we have too.

 

They do if they want preserve their bottom line. And they should and they do.

It isn't the only thing they care about but it is certainly in first place. That is good, of course, because business profits are the source of wealth in a capitalist system.

 

It’s still “after the Trump corporate tax cuts” so why aren’t we still seeing the benefits

 

Well, no one ever accused TDS Sufferers of being rational people, which is why they are literally paying for the mistake of electing Biden.

Hopefully, none of the 11,000 Americans Biden stranded in Afghanistan will have to pay with their lives for that mistake. Not that you care, but that's a lot of blood that you and the others will have on your hands...

 

Taxes on businesses become pass-through costs to the consumer in the way of price increases.

 

At last, we all get to live the Babeuvian Illiterati's dream of fundamentally transforming the United States of America...

 

Your post has no meaning.

Trump is scum. You support scum. Understand now?

 

A billionaire is trying to talk you out of taxing him. And you fall for it?!?! LOL!!!

Like PT Barnum said, there's a sucker born every minute.

 

Aint that the truth!.....The rich give huge sums of money to politicians, in turn get even larger sums back...........And here is Mr. Red Neck dumb ass sticking up for wealth.....
Then they wonder why young people are embracing policies to help the masses!

"Oh dont raise taxes they will pass the tax to us"........Then they get lowered we all get screwed, debt goes up, and prices never drop..........You would think by now, the 50% of the public would have figured that out?........But know the TV guy just keeps lying and they keep watching!

 

yet less taxes never, ever, ever result in lower prices to the consumers. So weird the way that works. If one is so automatic it seems the other should follow.

 

And the government talked you into thinking that taxing him is better for society. You fell for it!

 

It seems that way, but doesn't work that way. A corporate tax hike is an immediate cash outlay that has to be funded somehow. You can cut salaries, fire people, cut other costs (eventually cutting wages or firing people at other companies), or raise prices. It's effect is pretty direct and relatively immediate.

Lowering the corporate tax cut is not the same. It takes longer to get to average consumers. Assuming the owner takes the cash flow for himself, he will either invest it or spend it, which then circulates through the economy eventually causing other companies to hire more, sell more, buy more, and whatnot that increases wages, which effectively lower prices.

 

Or depending upon ones profit it can be absorbed. None of those things have to happen.

 

Absorbed, lol? You think they’re burning the money or stuffing it in a mattress, lol?