Groundwork Launches New Website Highlighting Rampant Corporate Profiteering as Driver of Inflation
April 4, 2022 Groundwork Collaborative
Following last week’s Bureau of Economic Analysis (BEA) release showing record corporate profits in 2021, the Groundwork Collaborative has launched a new website, endcorporateprofiteering.org, highlighting corporate profiteering as a key driver of rising prices. The new site pulls from publicly-available quarterly corporate earnings calls to expose CEOs crowing about raising prices on consumers to boost their profit margins.
“CEOs can’t stop bragging on corporate earnings calls about raising prices on consumers to keep their profits soaring and now we have the receipts,” said Dr. Lindsay Owens, executive director of Groundwork. “But don’t just take our word for it – check out our new site and decide for yourself.”
Since Summer 2021, Groundwork has been raising the warning flag on the relationship between corporate profiteering and inflation – and lawmakers and the public are taking notice.
- Groundwork’s recent poll with Data for Progress found that 63% of voters believe that “large corporations are taking advantage of the pandemic to raise prices unfairly on consumers and increase profits.”
- Lawmakers and the White House have introduced legislation and opened investigations to crack down on price gouging, tax excess corporate profits, and protect people across the country from pandemic profiteering.