The dirty little secret about corporate profits: they've been much better after 13 quarters of Biden than they were after 16 quarters of Trump, averaging 4.14% yoy under Trump and 12.13% under Biden.
This is a great little arrangement between Democrats and big business. Democrat-aligned business makes off with your cash while politicians pretend to do something about it in exchange for campaign contributions, with the important benefit that inflation inflates away the cost of their spendthrift deficit spending.
The so-called Inflation Reduction Act, which did no such thing and Democrats said would cost nothing, is estimated to cost the taxpayers nearly $800 billion by 2031 according to the liberal Brookings Institution.
This is your fascist America.
Shielding price increases by blaming them on inflation has been the modus operandi of the period. Price gouging is real, but gimmicks which address only symptoms won't solve the problem, which is caused by increasing the money supply and deliberately increasing other costs as a matter of policy, like energy and regulation, which businesses also can plausibly blame.
But Harris knows the demagogic value of running against price gouging.
Price controls poll particularly well. You can fool most of the people most of the time.
