We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
It's Not Inflation: Here's the Proof We're Getting Ripped Off.
- Authors
OWENS, LINDSAY; PANCOTTI, ELIZABETH
- Abstract
A report from the Groundwork Collaborative reveals that corporate profits are responsible for over half of the recent inflation experienced by Americans. While businesses have blamed rising costs on supply chain disruptions and geopolitical events, the economy has largely returned to normal and some costs have even decreased. The report highlights the diaper industry as an example, where prices have increased despite a drop in the cost of production. Many corporations have been raising prices while their costs go down, leading to increased profit margins. The Biden administration has taken steps to address corporate profiteering, but further action, such as raising taxes on corporations, may be necessary to combat inflation.
- Subjects
PRICE inflation; EARNINGS announcements; CORPORATE profits; PROFITEERING; RUSSIAN invasion of Ukraine, 2022-
- Publication
CounterPunch, 2024, p1
- ISSN
1086-2323
- Publication type
Article