Certainly you won't hear it from Republicans. Republicans protect corporation who price gouge us. Can you show me that the prices have only gone up with inflation?
Democrats claim major corporations are using inflation, labor shortages and supply chain bottlenecks as an excuse to gouge consumers.
fortune.com
In December, the cost of consumer goods and services
rose 7% over the past year.
“Corporate greed is motivating large companies to use the pandemic and supply chain issues as an excuse to raise prices simply because they can. And a lot of executives brazenly boast to investors about raising prices on consumers without consequences—and these executives are saying they're going to continue to do so,” House Energy and Commerce committee chairman Rep. Frank Pallone (D-N.J.) said during Wednesday's hearing.
To fight this kind of price-gouging, Pallone, Schakowsky, and several Democrat co-sponsors introduced legislation earlier in the week to hold companies accountable. The
COVID–19 Price Gouging Prevention Act would give the Federal Trade Commission the ability to seek civil penalties from companies that raise prices to “unconscionably excessive” levels during the pandemic.
According to quarterly reports for Tyson, the nation's largest meat processor, the company posted $3 billion in profit in 2021. It made over $1 billion in profit just last quarter, the reports showed.
That means profits are up a staggering 48% from the first quarter of 2021 compared with the same period in 2022, even as
inflation is hurting American families.
A big reason for Tyson's
skyrocketing profits: its 31% price hike on beef, 20% on chicken and 13% on pork.
Starbucks blamed labor costs and supply shortages for higher prices — all while increasing their CEO's pay by 40% to $20 million.
www.businessinsider.com
