ICYMI → @owenslindsay1 joined @business’s Balance of Power to discuss the March jobs report, the strengths of a full-employment economy, and the public investments that’ve made it possible.
LISTEN:
Greedflation is a major driving force behind higher prices — and our research is shining a bright light on it:
Greedflation has eclipsed other causes of inflation — it’s time to rein it in
Good news for small businesses and consumers. Bad news for corporations trying to pad their bottom lines with excessive fees. When companies are forced to compete fairly, we all benefit.
It’s time for America’s millionaires and billionaires to pay what they owe in taxes.
Fully funding the IRS and empowering the agency to collect from wealthy tax cheats is about fairness and recouping the money that can be used to benefit all of us.
Corporate greed is shredding consumer confidence.
With corporate profits soaring, it’s time to rein in the price gouging that’s driving uncertainty across our country.
“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)