Democrats peg inflation to corporate greed on campaign trail

[ck4829]

U.S. nonfinancial corporate profits soared to $2 trillion for the first time in the second quarter of 2022, while corporate profit margins as a share of the economy rose to the highest level in over seven decades, according to Bureau of Economic Analysis data released Thursday.

Following President Biden’s lead, Democrats are taking aim at energy giants and meatpacking companies that recently notched record-shattering earnings on the back of higher prices.

“As families struggle, oil companies are earning record profits. When corporations take advantage of a crisis, that’s price gouging, and it’s wrong,” Sen. Mark Kelly (D-Ariz.), whose race could decide control of the Senate, told viewers in a campaign ad this month.

Shortly before pulling off an upset win in a New York special House election Tuesday, Democrat Pat Ryan ran ads touting his efforts as county executive to take on the region’s top utility, which he accused of ripping off consumers.

https://thehill.com/business-a-lobbying/3617597-democrats-peg-inflation-to-corporate-greed-on-campaign-trail/

[dchill]

1. That's where I'm pegging it, too.

The price of oil drives the price of EVERYTHING. And when the oil prices go down, don't think the other businesses are going to automatically surrender their newfound income. They're still trying to recover their losses from high fuel prices.

[underpants]

2. Oil and Food are just getting back their 2020 money

What, you think they were going to just let us keep it? No no no, we serve them not the other way around.

This is a winning strategy. It’s true too.

[Midnight Writer]

3. Labor demand makes wages go up, corporations grab those wages and more.

We have given too much power to the corporations and wealthy investor class.

They demand more and more of our money, our work, our devotion, and our lives, just so they can have more gravy on their plates.

Their hunger is insatiable, and to them we are no more than livestock to be consumed.