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This piece was originally published in the May 13, 2022 edition of CAP Action’s newsletter, the Progress Report. Subscribe to the Progress Report here.

“The prices Americans are paying for groceries and other essentials are at all-time highs. One of the reasons? Giant corporations are price gouging & reaping record profits. We need to put a stop to corporate gouging that drives up prices for families.” – Sen. Elizabeth Warren (D-MA)

 

Anyone who has gone to a grocery store or gas station, or even just shopped online, in the past few months has felt the sting of rising prices. And while there are many reasons for the recent increase in prices, including supply chain issues and the war in Ukraine, startling data shows that more than half of the price increases experienced by Americans since the start of the pandemic can be tied to increased corporate profit margins.

Close to 55 percent of the inflation the United States has experienced since the beginning of the COVID-19 pandemic has made the rich richer, at the cost of working families.

Corporations raising prices on Americans to line their own pockets is unacceptable. It’s time to tax the rich, tax big corporations, and build an economy that works for all Americans. 

Share this graphic to tell all your followers and friends about the price-gouging by these big corporations:

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This piece was originally published in the May 13, 2022 edition of CAP Action’s newsletter, the Progress Report. Subscribe to the Progress Report here.

The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.

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Brad Chester

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“The Progress Report” is CAP Action’s regular news email, providing policy-minded analysis of the day’s stories—and offering subscribers ways to get involved.

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