Washington, D.C. — In response to today’s disappointing GDP report, government watchdog Accountable.US released the following statement from President Kyle Herrig:
Sky-high inflation is a major contributor to the economic slowdown, and nothing is driving up costs more on everyday families than corporate greed. Across industries, we’ve seen major corporations continue to post record high profits and approve billions of dollars in shareholder giveaways while disingenuously claiming to have no choice but to raise prices so high. As everyday Americans are getting squeezed, Fortune 500 c-suite executives are doing better than ever, averaging over $18 million in compensation while their workers’ wages have severely lagged behind.
Reining in corporate greed is the key to bringing down costs for families and kickstarting economic growth, and fortunately Congress has the opportunity to do it. Passing the Inflation Reduction Act will ensure corporations will finally begin to pay their fair share in taxes. This bill will put billions of dollars more into the pockets of Americans by reducing the leverage big oil, health insurance and drug companies have to charge whatever they please – all while creating thousands of new jobs. Congress must not squander the best opportunity they may have for years to create an economy that works for everyone, not just billionaires and greedy corporations.”
Accountable.US President Kyle Herrig
For months, Accountable.US has been documenting how clear pandemic profiteering and corporate greed from the big oil, meat packing, shipping, retail, clothing, food, trucking and railroad companies are making inflation/supply chain problems worse for everyday consumers. In our view, big industries are only compounding the problem by rewarding those in Congress obstructing every commonsense measure to fight the corporate greed that comes before them, no matter how widely the public supports the initiatives.
RECENT CORPORATE GREED ANALYSES FROM ACCOUNTABLE.US:
- REPORT: Conservatives in Congress Obstructing Inflation Solutions Have Received Nearly $9M From Corporate Interests
- REPORT: Top Rental Companies’ Net Income Jumps 57 Percent After Raising Rent on Vulnerable Consumers
- REPORT: Top 5 Shipping Companies Saw Profits Spike By Over $40B After Raising Their Rates in 2021
- REPORT: Meatpacking Profiteers Testifying Today Saw Nearly $13B in Profits After Racking Up $384M In Price-Fixing Fines and Settlements