From Warren Gunnels GunnelsWarren on Twitter
Majority Staff Director for Health, Education, Labor and Pensions Committee Chairman SenSanders:
Whether its Chevron spending $75 billion in stock buybacks after making a record $35.5 billion in profits or Union Pacific denying paid sick days to rail workers after making $7 billion in profits & spending $6.3 billion on stock buybacks, it ain't inflation. It's corporate greed
12:33 PM · Jan 28, 2023
The problem with that argument is that labor prices and the prices of raw inputs to manufacturing have also increased, showing that it really is systemic inflation and not meer greed.
And the theory doesn't really make sense in the first place, as if greed is a new thing that corporations just discovered in the last year or so?
The idea of inflation is that purchasers competing among each other for the same basket of goods end up bidding up the price if they all have more money to spend.
That's exactly what we've been seeing.
