Well, it wasn't biden that posted record profits was it? It was the grocery stores.
> And the record profits Professor Weber mentions? Groundwork Collaborative recently found that corporate profits accounted for 53% of 2023 inflation. EPI likewise concluded that over 51% of the drastically higher inflationary pressures of 2020 and 2021 were also direct results of profits. The Kansas City Federal Reserve even pegged this around 40%, indicating that sellers’ inflation is now a pretty mainstream idea.
> And the record profits Professor Weber mentions? Groundwork Collaborative recently found that corporate profits accounted for 53% of 2023 inflation. EPI likewise concluded that over 51% of the drastically higher inflationary pressures of 2020 and 2021 were also direct results of profits. The Kansas City Federal Reserve even pegged this around 40%, indicating that sellers’ inflation is now a pretty mainstream idea.
https://www.forbes.com/sites/errolschweizer/2024/02/07/why-y...
Look at this picture:
https://s3.amazonaws.com/oxfam-us/www/static/media/files/Beh...
Then this one:
https://ritholtz.com/wp-content/uploads/2023/06/0.1-v.png
The green line is the top 0.01%, the red line is the average american.