“Corporations think they’re entitled to sky-high profits, and it’s destroying the economy.”
NEW: The @FTC just released a study finding large grocery retailers took advantage of supply chain disruptions to raise prices on consumers and squash smaller competitors. Our Chief Economist, Dr. Rakeen Mabud, reacted with the following statement: https://t.co/qxUZw7usmu
35 major U.S. companies paid top executives more than they paid in federal income tax from 2018 to 2022, per @4taxfairness and @IPS_DC. Make it make sense. It’s more proof of the urgent need for a tax code that asks the wealthy to pay their fair share.
“Seller’s inflation is what basically generalized the local sectoral shocks into economy-wide inflation.” Great interview with @IsabellaMWeber that dives into the causes of higher costs & makes the case for interest rate cuts.
The IRS Direct File pilot program launches today! Check out this excellent thread + blog post from @BharatRamamurti, Gabriel Zucker, and @EconomicSecProj on the massive potential benefits of a free tax-filing program.
The tax reforms in @POTUS’ budget “will begin to reverse the 40-year one-way ratchet of falling taxes for the wealthiest and corporations and instead invest in workers and families.” @owenslindsay1’s statement on the 2025 budget:
From surge pricing to shrinkflation, corporate pricing strategies are all over the news. And for good reason: Workers & families are worried about the high prices of essentials. Our new report sheds light on how shrinkflation is driving inflation. Here’s what we found: (1/9)
“@CFPB has created an inflation-fighting and pro-competition tool, wrapped around a law enforcement policy.” @ddayen unpacks the new CFPB guidance on comparison-shopping tools for fighting corporate greed in @theprospect.
Charging families the same price — or an even higher one — for smaller products should be illegal. The Shrinkflation Prevention Act is a first step to putting a stop to this deceptive practice once and for all.
“Major disasters can be wonderful opportunities for increases in profits.” @IsabellaMWeber’s work on seller’s inflation offers insight into the most recent inflation crisis and solutions policymakers can use to address future crises.