Unrig Our Economy NYC

Menu

The Public Blames Corporate Greed for Price Increases; Strongly Backs Policies to Address Corporate Profiteering Head-on

The Public Blames Corporate Greed for Price Increases; Strongly Backs Policies to Address Corporate Profiteering Head-on

May 23, 2022


Although corporations – and their Republican enablers in Congress  – try to blame high prices on inflation and supply chain issues, corporate profits are the highest they’ve been in 50 years. The American people get it  – corporate greed is at play through pandemic and war profiteering. The public is likewise fed up with corporations manipulating the rules of our economy to enrich and empower themselves at our expense.  Corporate execs are admitting it themselves on earnings calls — they’ve been exploiting the pandemic and using the guise of inflation to raise prices faster and higher than necessary.

  • Polling shows voters overwhelmingly blame big corporations for price increases and strongly back policies that address monopoly behavior and corporate profiteering head-on.

 

  • 63% believe that “large corporations are taking advantage of the pandemic to raise prices unfairly on consumers and increase profits” vs. 29% who believe “large corporations have no choice but to raise prices in response to rising costs.”

 

  • 80% support the federal government “Crack[ing] down on large corporations that raise prices unfairly, and promot[ing competition between businesses to lower prices for consumers and small businesses.” This includes 79% of independents and 74% of Republicans
  • Nearly 3 in 4 Americans agree that corporate greed is a cause of inflation, according to Navigator Research. 

 

The bottom line is that it’s time to make our economy work for working people — not just corporations and the wealthy few. New Yorkers and the American people are fed up with politicians on the side of corporations raking in record profits by jacking up prices at the grocery store, gas pump, and beyond at middle-class families’ expense. They’re counting on Congress to protect American consumers and rein in corporate greed. 

 

###

Unrig Our Economy NYC is a local campaign to fix the rules of our economy to make it work for working people. When the middle class does well, all of us do well — which is why we’re fighting on behalf of working Americans and holding greedy and the politicians who enable them accountable.