Wonkette: It's Not Inflation, It's Greed

[Nevilledog]

Link to tweet

https://www.wonkette.com/corporations-are-jacking-up-prices-rewarding-shareholders-and-screwing-consumers

The GOP has been working hard lately to promote the idea that the inflation we're seeing around the country — and most especially the high gas prices we are seeing around the country — are the fault of Joe Biden and also greedy workers who think they deserve to make enough money to live.

This is a message that resonates with Americans because they largely believe capitalism is basically good and fair and the best way to ensure that everyone is getting exactly what they deserve. Sure, maybe the rich sometimes get a little more than they deserve, but that just ensures that others will be motivated to work hard! But ultimately it's fair, unlike socialism where people get things like health care whether they deserve them or not. It would never occur to most people to think "Oh, wait, these companies are actually taking advantage of a crisis and doing some opportunistic price gouging," because in a free market, no one ever charges more than the fair market price for things.

Except that is exactly what they are doing. A report released this week by government watchdog Accountable.US analyzed the earnings data of the top three corporations in several major categories and found that the amount they raised prices did not simply cover an increase in operating costs due to outside factors, but rather led to generating profits for their shareholders. Big profits. Combined, these companies put $151 billion in increased profits into their own pockets and the pockets of shareholders.

“Across nearly every single industry that is measured for price changes, we’re seeing highly profitable corporations demand more money for consumer staples that families depend on without a good reason why,” Accountable.US president Kyle Herrig said in a statement. “These companies would have consumers believe they marked up prices just to keep up with outside costs, but the tens of billions in extra profits and generous giveaways to investors last year show otherwise. It simply doesn’t add up. Despite what they claim, these highly profitable businesses do have a choice, and they’re choosing to fatten their bottom line rather than keep consumer prices stable."

*snip*

[Magoo48]

2. Yup, corporate greed and the chaos of runaway extraction-capitalism at its ugliest.

Brought to us by Ronnie Raygun and a 40+ year drive towards authoritarian oligarchy/fascism.

[uponit7771]

3. THIS !!!! ☝🏾☝🏾☝🏾 If the inflation was organic the earnings would not be EXCEEDING so much !!!

[alwaysinasnit]

4. k&r for visibility

[I_UndergroundPanther]

5. And companies can buy back

Thier own stock too.

Thats who a lot of the mysterious shareholders are.

After the crash in the 20's that ended the guilded age companies could not buy back thier own stock.

Now thanks to republicans they can again do buybacks.

[WarGamer]

7. It's our system... it's the "American Way"

Lots of things to blame it on.

But the problem still exists and as of now, inflation has destroyed ALL gains made to peoples paychecks.

[lame54]

8. Why waste money on negative Biden adds...

When you can profit by pulling the rug out from under him