FINALLY, President Biden calls for a Windfall Profit Tax. He even (accurately) accused oil companies of war profiteering! This is exactly what we want to hear. A huge percentage of current inflation is a result of corporate price gouging. They’ve … Continued
Posted at https://www.commondreams.org/news/2022/07/19/ceos-not-working-people-are-causing-inflation-report-shows-soaring-executive-pay “When you look at those numbers and at CEOs trying to blame workers for inflation, it just doesn’t add up,” said the secretary-treasurer of the AFL-CIO. JAKE JOHNSON July 19, 2022 The AFL-CIO’s latest annual analysis of top … Continued
Posted at https://www.commondreams.org/news/2022/02/01/data-highlights-egregious-pandemic-profiteering-us-food-and-oil-giants On the eve of a congressional hearing on corporate price hikes, a new analysis shows that “companies are hiding behind the pandemic and supply chain disruptions as an excuse to gouge consumers.” JAKE JOHNSON February 1, 2022 … Continued
Posted at https://www.commondreams.org/news/2021/11/30/executives-hike-prices-us-corporations-rake-biggest-profits-1950 “Prices are high,” said Sen. Sherrod Brown, “because corporations are raising them—so they can keep paying themselves with ever-larger executive bonuses and stock buybacks.” JAKE JOHNSON November 30, 2021 New data released by the Commerce Department shows that … Continued
From the Food Research and Action Center (http://www.frac.org): CBS News, August 10, 2018 Between July 2017 and July 2018, consumer prices increased 2.9 percent, and despite economic growth, the rate of inflation suggests Americans are earning less than a year … Continued