Corporate profits are at a 70 year high

As Robert Reich explains in testimony to the Senate’s budget committee the other day, corporations, enjoying the highest profits in seventy years, are raising prices and making windfall profits as the economy recovers from the pandemic. These giant legally created persons are using using those fortuitous profits to buy back shares and drive up their stock prices at the expense of consumers, who groan under inflation.

Of course, blaming Biden and the “tax-and-spend Democrats” for Biden Inflation (worldwide, what a dick he is!) increases their chances for a president Pompeo or Mnuchin or Kushner or Carlson, and even higher profits when all government regulation is finally abolished, along with all income tax (for the wealthiest). It all goes to prove, if proof is kept strictly independent from the facts, that fairly taxing the rich means the destruction of all of us.

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