Excess corporate profits accounted for more than half of recent price increases. To stamp out inflation once and for all, we need to crack down on price gouging. [https://factkeepers.com/no-its-not-inflation-were-just-getting-ripped-off-heres-proof/](https://factkeepers.com/no-its-not-inflation-were-just-getting-ripped-off-heres-proof/)

by factkeepers

6 comments

  1. It IS inflation – a general and sustained rise in prices across an economy – and the cause of that inflation is that price-setters have raised prices.

    Gouging is a judgment about those price increases, and people can decide for themselves if that’s fair, but ownership sets prices and consumers can take or leave them.

  2. Corporations have always been profit maximizing. That’s the entire reason corporations exist, to make profits. They didn’t suddenly become greedy. An economy wide surge in corporate profits is caused by an excess of demand over the ability of the economy to increase supply. If they can’t easily increase supply, corporations will of course respond to increased demand by raising prices, which will of course increase profits.

    If you see someone who blames the corporate profits, or price gouging, for the inflation, that is a clue that you are dealing with someone who doesn’t know anything at all about economics.

    The biggest thing you have to regulate against is monopolies and cartels, who might have the power to *deliberately* restrict supply for their own profit. You have that in some degree with oil (OPEC), but not many other places right now in the US economy.

  3. I’m going to bring up hair cuts again. A men’s haircut in my city was like $15 quick place, $28 or $30 for solo hair cutters who rent a chair.

    Now it’s $25 quick places and $55 at the solo place I use to go to. When I asked her why her prices went up so much, she said it’s the going rate in this area now lol.

  4. This is such bologna.

    Show these public companies’ info to prove it..

  5. S&P 500 Earnings Per Share

     1995 about $30.00

     2023 tops $195.00  

    Over 600% increase in earnings per share.  Profit taking drive consumer costs thru the roof, while employers stagnant wage growth of workers. A perfect storm to grind the workers into multiple jobs just to survive, creating more profitable labor for owners of businesses. 

  6. Not only that, the company I work for is ripping me off.

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