Inflation—and What Democrats Should Say About It
Robert Hubbell’s piece in Today’s Edition Newsletter on 4/13/22 lays out the situation:
“Inflation rose to 8.5% in March—the highest rate since 1981. Republicans will use that fact to beat up Democrats in 2022. But Robert Reich lays the blame where it belongs—on corporations that are exacerbating inflation by using it as an excuse to engineer record profits.” (Resource: Robert Reich, Inflation is out of control! Urgent memo to Biden and the Democrats!)
Background:
- Corporate profits are at a 70-year high. Yet corporations are raising their prices.
- They are not raising prices because of the increasing costs of supplies and components and of labor. Corporations enjoying record profits in a healthy competitive economy would absorb these costs.
- Instead, they’re passing these costs on to consumers in the form of higher prices. In many cases they’re raising prices higher than those cost increases, using the cover of inflation to increase their profit margins even more.
Community Action:
- Reich’s narrative highlights a truth that can resonate with voters—if Democrats can summon the messaging discipline to make it.
- Group Discuss: What should Democrats be saying and how should they say it?
Oh by the way, Senator Debbie Stabenow, said:
“There was $7 trillion in new debt and 2.6 million jobs lost during Trump. But when McConnell comes to this podium, all he does is complain that we’re not cleaning up their mess fast enough.”