by Sarah Baron
October 12, 2022
Conclusion:
Read more here: https://otherwords.org/raise-corporate ... st-rates/(Other Words) Instead of just relying on Fed officials — who have made it clear they will drive the economy into recession to get inflation down — policymakers should attack the problem head on in a way that protects working Americans. Big corporations and the Republicans who enable them must be held accountable for their price gouging.
Beyond the Inflation Reduction Act, congressional Democrats have introduced several additional bills that would help curb corporate price gouging. Some examples include the Price Gouging Prevention Act, the Big Oil Windfall Profits Tax Act, the Food and Agribusiness Merger Moratorium and Antitrust Review Act of 2022, the Emergency Price Stabilization Act, and the Ending Corporate Greed Act.
Big corporations and their Republican allies need to be held accountable and made to stop taking advantage of working Americans. They’ve proven time and time again that they won’t lower prices on their own.
There’s no denying that high prices have been good for big corporations. Instead of spending their windfalls on stock buybacks and lavish CEO pay packages, corporations could have put those extra profits towards workers’ wages—or simply kept their prices from skyrocketing.
But too few corporations are willing to put the good of the country and the health of our economy before their interests. Too many working Americans are paying the price of corporate greed. Americans need Congress to stand up for them.