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Groundwork Collaborative executive director Lindsay Owens also responded critically to the CBO report, saying Wednesday that "extending Trump's tax law and effectively subsidizing corporate profiteering and billionaire wealth is a nonstarter."
“All of these rules really have at their core the idea that people deserve a fair and functioning economy that works for them,” said Rakeen Mabud, chief economist and managing director of policy and research at the Groundwork Collaborative, a left-leaning think tank and advocacy group.
"Americans have been working harder and harder to cover rising energy costs, with the understanding that supply chain snags and geopolitical forces were keeping prices high," Owens said. "Now the Federal Trade Commission has uncovered the real source behind the price at the pump: collusion."
“Americans have been working harder and harder to cover rising energy costs, with the understanding that supply chain snags and geopolitical forces were keeping prices high. Now the Federal Trade Commission has uncovered the real source behind the price at the pump: collusion.” Groundwork Collaborative’s Executive Director Lindsay Owens reacted.
These findings raise concerns about the societal impact of growing wealth inequality. Zucman argues that the ultra-rich’s ability to live off their wealth while contributing less in taxes undermines the principles of fairness and democracy. Rakeen Mabud, chief economist at the Groundwork Collaborative, echoes this sentiment, calling the trend “absurd” and urging lawmakers to raise taxes on the wealthy and large corporations.
Also testifying on the side of the Democrats was Mr. Bilal Baydoun, director of policy and research at the Groundwork Collaborative. He also brought some actual evidence to the party: “Rideshare apps like Uber reportedly charge users higher prices if their phone battery is lower. Insurance companies fly drones above our property in search of signs of clutter, and car companies install software that reports our driving behavior to insurance companies, who use the data to hike our rates.”
"The ultra-wealthy are paying less in taxes than the bottom half of income earners. That's absurd!" Rakeen Mabud, chief economist at the Groundwork Collaborative, wrote in response to Zucman's analysis. "We've got to raise taxes on the wealthy and large corporations. Enough with the wealth hoarding. It's past time for us to take back what's ours."
Today, the Bureau of Labor Statistics released the April jobs report which shows that our economy added 175,000 jobs last month and unemployment ticked up to 3.9%.
“The Inflation Reduction Act’s provisions to create a sustainable, clean energy economy are ushering in a new period of economic growth. Repealing these efforts does exactly the opposite: this bill would shrink our economy and harm the workers who power it.”
Today, Groundwork Collaborative Director of Policy and Research Bilal Baydoun testified before the Senate Banking Committee at a hearing titled, “Higher Prices: How Shrinkflation and Technology Impact Consumers’ Finances,” where he outlined the rampant corporate power behind price hikes facing consumers.