![\"\"](\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/2020\/05\/APP-052620-Plugs-BIDEN-Covid.jpg\")
<\/p>\nRUSH: Let\u2019s go to Kevin in Louisville. Great to have you. You\u2019re next, sir. We\u2019ll give you a shot.<\/p>\n
CALLER: Hey, Rush. Joe Biden claims that his tax plan is to not raise tax on anybody making less than $400,000, and that is really a lie because Joe intends to increase tax on corporations. Corporations really don\u2019t pay tax. They pass the taxes on to their consumers.<\/p>\n
So if I own a business and I\u2019m selling something for $10 and I profit $1, and he increases my tax 10%, then I\u2019m just gonna raise my price $11. So in reality with his plan, the little guy is paying all of the corporate taxes. You know, he\u2019s either too dumb to grasp that or the person pulling his strings knows precisely what\u2019s going on and they\u2019re just deceiving everybody.<\/p>\n
<\/p>\n
RUSH: Of course. Everyone knows what\u2019s going on. Look, this is something as a 77-year-old guy with 47 years in Washington, he knows exactly what he\u2019s lying about here. He knows exactly what he\u2019s misrepresenting. There\u2019s two points about this. Biden has pledged that he\u2019s going to raise taxes on corporations and people who make $400,000 a year or more.<\/p>\n
Then he says that he\u2019s going to repeal the Trump tax cuts. Well, folks, the mathematics is very simple. If he follows through and if they repeal the Trump tax cuts, then everybody is going to get a tax increase. The Trump tax cuts benefited people who make less than $400,000 a year. The Trump tax cuts were across the board, under the premise that everybody deserves a tax cut.<\/p>\n
There\u2019s no law that says just because you make X-numbers of millions that you have to pay more or a greater percentage than anybody else. So there\u2019s two things here. Biden says he\u2019s only going to raise taxes on people who make 400 grand a year or more, but he\u2019s going to repeal the Trump tax cuts. Well, if he repeals the Trump tax cuts, then everybody is getting a tax increase.<\/p>\n
Everybody.<\/p>\n
Including you.<\/p>\n
He\u2019s lying through his teeth when he tells you if you\u2019re less than 400 grand a year that you\u2019re not gonna get a tax increase. You are. The point about corporate taxes is exactly right. Corporations pass tax increases along to the consumer as much as they can. There are some limitations they face, depending on the industry they are in and depending on the competitive times that they are involved in.<\/p>\n
![\"\"](\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/2020\/10\/APP-102920-FOX-gdp-grab.jpg\")
<\/a>You know, it\u2019s not axiomatic that a corporation can raise prices on its goods or services anytime it wants. There are tricky ways that they can raise prices, but they still have to be very careful that they\u2019re not doing damage to themselves in the competitive realm. If their competitors are not gonna raise prices and they do, then they\u2019ve got a problem.<\/p>\n