CNBC’s Andrew Ross Sorkin Pushes Back on Pete Buttigieg Arguing for Corporate Taxes to Fight Inflation: ‘Not How You’re Going to Solve’ it

Transportation Secretary Pete Buttigieg got pushback during a Monday CNBC interview when he argued that corporate taxes can solve the current crisis of record inflation.

During an interview on Squawk Box, Buttigieg was asked about inflation, which President Joe Biden said on Friday can be solved by making sure “the wealthiest corporations pay their fair share.”

Host Andrew Ross Sorkin argued corporate taxes and inflation are not as tied together as the president thinks.

“Do you not agree that these are two separate issues?” Sorkin asked. “Meaning, if you change corporate taxes, yes, in the immediate term, maybe it’ll have some impact on inflation, but corporate taxes is a long-term issue.”

Sorkin said dealing with corporate taxes may be the “right thing to do,” but it will not get to the heart of the problem that is inflation.

Buttigieg disagreed, arguing tax revenue can be used to “ease” inflation problems, which are affecting everything from gas prices to groceries. He also quickly went into an argument against Republicans, whom he claimed simply want to tax the wrong groups.

“A lot of it is what you’re going to do with the revenue and again, we have an agenda to use tax revenue on things that are going to ease inflationary pressures, but also, we have a very clear contrast right now,” Buttgiieg said. “You have Senate Republican proposals that are about raising taxes on the poor and middle class and you have the president’s worldview, which is shared by the majority of Americans, that if anybody needs to be carrying more of the load right now, it is the wealthiest corporations that have become extremely profitable —”

“That’s not how you’re going to solve inflation,” Sorkin said, though Buttigieg was undeterred and barreled forward with his point. He accused corporations of having “invoked inflation” as an excuse to raise prices and keep them raised.

“Hold on, this is really important,” he said. “Corporations that have invoked inflation as an excuse to keep prices high in ways that are not just reflected by the supply picture and are pocketing the difference,” he said, echoing White House accusations of price gouging in the marketplace.

Watch above, via CNBC.