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Half of recent US inflation due to high corporate profits, report finds
(www.theguardian.com)
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this post was submitted on 19 Jan 2024
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Theft. It's called theft.
Smokes cigar: Akshually it’s a reasonable rate of return, but I wouldn’t expect you W-2 menials to understand.
Theft is when you take something someone else has without their consent. Charging a lot for what you sell isn't theft.
Profiteering, price gouging, and wage theft are forms of theft.
Many places already make these illegal, but corporations don't face consequences when caught.
The worst part is that many of these companies have stated that without increases in consumer prices, they would be forced to shut down. Lies.
Our largest grocery store operator in Canada has been posting record profits these past few years, despite claiming that prices need to go up. They are stealing from consumers.
Aren't they also losing customers? I don't buy shit anymore. Won't a lot of places eventually drive themselves out of business? A smaller, captive customer base with the wealth to choose differently if they feel like it. The vast majority just doing without whatever isn't crucial.
You can’t really stop buying food. There’s a reason that (say) a laptop costs the same now that it did in 1998 but eggs went from $2.50 a dozen to $8 a dozen in a few weeks with no actual change in supply or demand outside of a very brief constraint on shipping.
Right, and when all we buy is food, many, many other businesses go poof. I'm not saying food isn't expensive. I'm saying that's all I buy anymore.