On 5/9/2022, during the White House press briefing, White House Press Secretary Jen Psaki says no one could’ve predicted President Joe Biden’s inflation crisis even though liberal economists had predicted it.
Reporter: as we look ahead to tomorrow’s inflation speech, let me ask you to look back at some of the warnings that were issued last year by Summers and Rattner and so on. In retrospect, were they right that some of the government policies were going to lead to inflation?
Psaki: I wouldn’t say we agreed with them then, and we don’t agree with them now. I would note that as a relates to actions like the American Rescue Plan, the alternative to not putting in place and advocating for the American Rescue Plan would have been the economy continuing to spiral. Right? We would — we were providing assistance and relief in the form of checks to people who needed that assistance at the time … So we know, if we look at the recent inflation data, a large — depending on which data you look at, two thirds to even 70 percent of inflation data is a result of energy prices. A large part of that is the result — and Chairman Powell has spoken to this and Secretary — Secretary Yellen has also spoken to this — is a result of President Putin’s … Those are all steps and impacts that I don’t think anyone could have predicted a year ago.
Reporter: The President and you have talked about the “MAGA crowd” or the “ultra-MAGA.” How does that jive with his desire to be the bipartisan guy?
Psaki: Well, the President’s view is you can do both. He believes that there is work we can continue to do together … But he’s also not going to stand by and not call out what he sees as ultra-MAGA behavior, ultra-MAGA policies that are out of the mainstream …
Reporter: the President plans to offer, as you said, a contrast. And it was written, quote, to “Congressional Republicans’ Ultra-MAGA plan to raise taxes.” Now, the Washington Post has called that claim false — that there was a Republican congressional plan to raise taxes. Why is this statement still being shared?
Psaki: Because Chairman Scott’s plan — and we welcome — we know he’s asked for people to go to his website. We would encourage people to do the same thing and check out his plan that raises taxes for people making less than $100,000 a year.
Reporter: But Mitch McConnell and this report — there aren’t any other Republicans signing on to this at this point. So is it fair to say that Republicans as a whole are pushing a plan to raise taxes?
Psaki: He’s the chairman of the committee. If Republicans want to repudiate his plan, they should go do that. But otherwise, that continues to be what they’re running on. So that’s their position, not ours.
Reporter: And just real quickly, back on the Rick Scott question: Senator McConnell did repudiate that — that plan. So how can you say it stands for what Republicans —
Psaki: Well, he’s the chairman of the committee. I wouldn’t say every Republican has repudiated. If they don’t — if that’s not at all the plan they’re running on and none of them are for it, then they can speak for themselves.
Reporter: In 2017 and 2018, the President routed $13 million of income through S corporations. There are some ethics experts who are calling on him to divulge the specific sources of income in those revenue streams. Richard Painter, who ran for Congress for the Senate as a Democrat, has been among those who are calling for this. Will President Biden be releasing the sources of income that were in that three — $13 million, particularly as there’s attention being paid to his son and whether he earned any money from his businesses?
Psaki: Well, again, the President doesn’t have dealings with his family members about business. And he has released decades of tax returns, which is more than I can say for his predecessor.
Reporter: But the S corporation, in particular?
Reporter: Does the President plan to condemn the leak of the Supreme Court draft opinion or the doxing of the justices?
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S-Corp Transparency: President routed $13M income. Psaki no one could’ve predicted inflation crisis though liberal economists had predicted it. Republican tax.