HAPPENING NOW: Groundwork's @owenslindsay1 joins the #MoralMarchonWashington to help uplift the needs of the more than 135 million poor and low-wage workers across our country.
TUNE IN:
June 29th is not just a march, it’s a movement.
A movement to end poverty as the 4th leading cause of death.
A movement to demand living wages, healthcare for all, and affordable housing.
It’s a movement to demand a moral economy that works for everyone.
NEW: In response to today's PCE price index, @Bilalgwork reacted with the following statement:
"With zero price growth in May for both CPI and PCE, there is no reason to hold back on cutting interest rates. Chair Powell shouldn’t waste any more time."
Why are prices still high despite cooling inflation and corrected supply chains? Corporate greed.
In our special June issue of @TheProspect, @Bilalgwork dives into the potential remedies policymakers could pursue to rein in predatory pricing strategies:
🚨A new Fed study destroys the argument that corporations had to raise prices because of wages.
"The labor share is now 1.5% below its 2018 level. From the beginning of the pandemic through the end of 2023, prices grew faster than unit labor costs."
https://www.bostonfed.org/publications/current-policy-perspectives/2024/productivity-improvements-and-markup-normalization.aspx
A majority of Americans say grocery prices have noticeably increased since the pandemic.
Why? Grocery giants have used Covid-era inflation and since-resolved supply chain issues as cover to keep prices high. It's time to bring prices down even further.
"The Trump tax law was never intended to help everyday people. It served as a windfall for the wealthy and corporations—the same corporations that have jacked up prices and scored record profits. It’s time to reverse the damage." —@owenslindsay1
This weekend, we're joining @UniteThePoor as a national mobilization sponsor of the #MoralMarchonWashington to help uplift the needs of the more than 135 million poor and low-wage workers across our country.
If you're in the DC area, RSVP now to join us:
With Costco reportedly planning "to sell its customers’ data to build out its ad network," our Executive Director @owenslindsay1 "quipped, it might be truer to say that the 'price of a hotdog [is] $1.50 and your identity.'"
FACT: Proponents of the 2017 GOP tax law claimed its corporate tax cuts would lead to higher wages for workers, but in reality, those earning < $114,000 — a majority of Americans — did not see any increase in earnings from the law.
Meanwhile, executive compensation skyrocketed.
As a recent @CenterOnBudget report lays out, the surge in stock buybacks is proof of the need for Congress to raise the corporate tax rate in 2025 — and it's one reason why we're leading a coalition of 100+ organizations demanding just that.
https://www.commondreams.org/news/stock-buybacks
This Saturday: We're joining @UniteThePoor as a national mobilization sponsor of the #MoralMarchonWashington.
Together, we'll help uplift the needs of the more than 135 million poor and low-wage workers across our country — join us:
The TCJA reduced the corporate tax rate and maintained the capital gains rate—both of which increased wealth and income disparities and fueled racial injustice.
ICYMI: @TheBeverlyMoran examines how the 2017 GOP tax law has only exacerbated disparities.
https://x.com/Groundwork/status/1804186866008179197
As our Executive Director @owenslindsay1 explains, companies like McDonalds used the cover of pandemic-era inflation and since-resolved supply chain issues to "see just how far they can take their pricing," gouging customers and raking in record profits. https://www.msnbc.com/opinion/msnbc-opinion/mcdonalds-5-meal-deal-inflation-economy-rcna158624
"There’s a big risk here that the Fed is behind the curve."
📺 On @SquawkCNBC, Bureau expert @KittyRichardsDC voiced concerns about the Fed's policy to keep rates high, which is making borrowing for homes and cars more expensive and reducing new home construction.