Following is the transcript of the press briefing.
What is not clear is if the administration actually believes that or it’s just more political posturing. Should it be the former, it represents another example of politicians not having a clue about business or economics or the relationship between costs, prices, profits, the stock markets and every day Americans.
“Q Good. I want to ask you about what Republicans are pointing to in the analysis from the Joint Committee on Taxation. They say, according to — if I’ve read the chart correctly, more than 16 percent of taxpayers would see their taxes increase under the bill that’s approved by the House Ways and Means Committee. Will the President sign that bill if — as if — it is coming out of that committee? Or will he insist on the changes so that he will maintain his commitment that taxes won’t go up on people making $400,000 a year?”
“MS. PSAKI: I have not looked at the document or the report that you have put out. Obviously, the President — or that you have referenced, I should say — that the Republicans put out.”
“Obviously, the President’s commitment remains not raising taxes for anyone making less than $400,000 a year. There are some — and I’m not sure if this is the case in this report — who argue that, in the past, companies have passed on these costs [higher taxes] to consumers. I’m not sure if that’s the argument being made in this report. We feel that that’s unfair and absurd, and the American people would not stand for that.”