“Corporations don’t pay taxes – people do,” Sen. John Kennedy (R-LA) explains in a new video statement condemning Sen. Joe Manchin’s decisive vote in favor of President Joe Biden’s massive tax-and-spend bill, which passed the Senate on Sunday.
As a result of Manchin’s vote, the Senate was deadlocked at 50-50, which enabled Biden’s Vice President, Kamala Harris, to break the tie and pass the $740 billion bill.
The bill, which raises taxes on businesses, will end up being paid for by “everyone,” Sen. Kennedy says in his video posted to social media following the bill’s passage.
“Corporations don’t pay taxes – people do. And, those taxes, when they’re increased, are passed on in higher prices, lower wages, lower stock prices and lower 401K balances,” Sen. Kennedy explains.
Raising taxes when Americans are suffering from both recession and inflation requires “a special kind of stupid,” Sen. Kennedy says:
“It takes a special kind of stupid, in my judgement, to raise taxes during both a recession and inflation – that’s called stagflation – which is what we have right now, as a result of President Biden’s policies.”
The bill will leave more Americans “living in a tent behind Whataburger,” the senator warns:
“Look, I’m not saying that Sen. Machin intentionally wants to hurt people. I’m not saying that he intentionally wants to have even more people living in a tent behind Whataburger – but, that’s going to be the result of this bill.
“I hope I’m wrong, but I think I’m right.
“This bill is Tier One moronic.”