This is really about 2 separate questions IMHO.
1. Is inflation just propaganda? Obviously not, how can anyone look at the cost of living over the past 3 years or so and not see inflation as a real problem for most people? Anyone who says it isn't is in fact spreading propaganda.
2. Is inflation caused by higher corporate profits? Some might say it's the other way around:
But it’s more common, economists say, for inflation to directly produce higher profits.
"The rising market power, and corporations' desire to maximize profits, are not the root cause of inflation, which comes instead from the excess of aggregate demand over aggregate supply," said Kimberly Clausing, a professor of tax law and policy at UCLA School of Law.
On the supply side, the pandemic wreaked havoc on production and distribution. Some materials became harder to obtain, and thus more expensive; transportation system bottlenecks kept products from their destinations, which also raised prices.
Meanwhile, on the demand side, the U.S. government under Presidents Donald Trump and Joe Biden spent heavily to keep the economy, and especially consumer purchasing, from cratering during the COVID-19 pandemic. Once the pandemic’s throttle on travel and hospitality spending eased, consumers’ spending surged.
So, although prices were already high, government stimulus payments enabled Americans to buy the more expensive goods and services, removing the incentive for companies to lower their prices when supply conditions changed.
The disconnect between 40-year high inflation and historically high corporate profits has led some Democratic lawmakers
www.politifact.com
At it's core, this is really a political argument about raising corporate taxes. Being a progressive liberal democrat, that is obviously something she supports.
nypost.com
