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How 2022 Democratic Candidates Address the Inflation Issue [1]

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Date: 2022-10-20

I know a significant problem with Democratic Party winning elections is communicating with voters why they should vote for them in direct / concise terms. I think that Katie Porter (US Representative — California) just did a big favor for all Democratic candidates. The information she presented recently in a hearing questioning an inflation subject matter expert from the “Economic Policy Institute” reviewing information from the “National Income and Product Accounts (NIPA) of the Bureau of Economic Analysis (BEA)” using a chart titled “Normal and recent contributions to growth in unit prices in the nonfinancial corporate sector”.

I know that the above information sounds like a bunch of government terminology, aka government gobbledygook, and that is why Representative Porter is so important. She does all the detailed work then boils it down into simple easy to understand terms. The analysis boils down to 53.5% of the inflation experienced during the COVID Pandemic period was due to increased corporate profits. The large corporations used the supply chain disruptions and other issues relative to COVID Pandemic to increase prices and raise their profits. This is called price gouging or in plain terms just ripping off consumers. This means that corporations are ripping off consumers just to increase their profits. We have federal laws and regulations to address this.

The bottom line is that more than 53% of the increase in inflation is due to large corporations ripping off the American public by price gouging. Now, which party will enforce the federal laws and regulations to stop this? The answer is not the Republicans who are owned by their large downers and corporations.

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[1] Url: https://www.dailykos.com/stories/2022/10/20/2130290/-How-2022-Democratic-Candidates-Address-the-Inflation-Issue

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