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ck4829

(35,714 posts)
Fri Nov 11, 2022, 07:03 AM Nov 2022

Some Economists Say Companies Are Using 'Cover of Inflation' to Excessively Hike Prices

By early fall, inflation had spread beyond physical goods to the service sector, which includes everything from health care and airline tickets to auto repairs and hotel rates.

And it's not just the cost of everyday life that's rising, corporate profits and CEO pay are also surging to an all time high this year.

During a recent House oversight subcommittee hearing, Rep. Katie Porter, D-Calif., pointed to data from an Economic Policy Institute report which found that more than half of the increased prices people are paying are coming from increases in corporate profits, and not from higher overhead costs associated with operation and labor.

Mike Konczal, director of Macroeconomic Analysis at the Roosevelt Institute, a progressive economic think tank, testified at the hearing that his organization conducted its own analysis of corporate balance sheets and other federal data, and concluded similar results.

https://www.nbcmiami.com/news/national-international/some-economists-say-corporate-greed-is-the-real-culprit-even-as-companies-blame-inflation-for-higher-costs/2902326/

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Some Economists Say Companies Are Using 'Cover of Inflation' to Excessively Hike Prices (Original Post) ck4829 Nov 2022 OP
DUH . .. Lovie777 Nov 2022 #1
Blue collar wages should reflect Beachnutt Nov 2022 #2

Beachnutt

(8,027 posts)
2. Blue collar wages should reflect
Fri Nov 11, 2022, 07:06 AM
Nov 2022

the inflation as well, If everything is going higher the American worker has to have more to live.

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