Stop calling it inflation
To the editor:
It is corporate greed that is keeping prices high.
Procter & Gamble recently boasted an $800 million profit increase. Despite costs going down, P&G kept prices high to increase profits. Other companies actually raised prices while the costs of goods were dropping. Without corporate greed, inflation now would be at or below 2% a year.
Kroger’s profit was up 35.6% from ’22 to ’23. Publix was up 49% from ’22 to ’23. That’s why food prices are so high.
Kamala Harris and the Democrats have a multi-faceted blueprint that seeks to make housing more affordable, ease health care costs, expand the child tax credit and crack down on corporations that are unfairly milking consumers.
Trump has asked top oil executives for a billion dollars in campaign donations and promised, if elected, to give them a continuation of 2017 tax cuts for only the big corporations and the 1% Americans, leaving out the rest of us.
The reason the Biden administration could not address inflation more robustly is because Republicans in the House and Senate blocked every effort to do just that. Biden’s “Build Back Better” legislation would have lowered inflation by reducing costs in a wide area of sectors such as child care, healthcare and more.
The Republicans opposed Build Back Better and every single inflation-reducing proposal Biden offered because they wanted to run on the issue.
Trump fights for billionaires and large corporations. Harris fights to give money back to working-and middle-class Americans.
Dennis Raube
Fort Myers