NEW: Lindsay Owens on U.S. CBO report that extending the #TrumpTaxScam would add $4.6 trillion to the deficit: 'This tax law should expire.” groundworkcollaborative.org/news/groundwor…

'In America today, a fair price is harder & harder to come by.' — Bilal

Last week, Baydoun testified before Senate Banking and Housing Democrats @SentateGOP on how modern pricing practices, influenced by corporate consolidation & advanced tech, are eroding fair pricing & hurting Americans.

'I hope [Chair Powell] is well aware of the consequences of higher for longer on American families.'

ICYMI: Lindsay Owens spoke with Bloomberg Radio about the Fed's interest rate decision:

In 2018, for the first time in U.S. history, the 400 richest Americans paid a lower effective tax rate than the bottom 50% of earners.

It’s time for a wealth tax or else we risk worsening inequality and shortfalls in funding crucial programs.

Lower corporate taxes ➡️ Less to invest in workers, families, and communities.

Revenues from corporate taxes are a QUARTER of what they were in the 1970s. It’s time to raise the corporate tax rate.

Did you know: Housing costs are a major driver of inflation overall? Or that the @FederalReserve could be making things worse by keeping inflation rates high?

Let Groundwork's Chief Economist Rakeen Mabud explain: groundworkcollaborative.org/news/groundwor…

Read Rakeen Mabud in The Hill on recent rulemaking by the Biden Administration:
'All of these rules really have at their core the idea that people deserve a fair and functioning economy that works for them.'
thehill.com/business/46393…

The IRS is aiming to triple the rate of corporate tax audits.

The IRS also wants a 50% jump in the audit rate for households with incomes of $10 million in the next three years.

Funding the IRS and letting it really do its job means we can tax the rich right now.

.Walmart quite literally tipping the scales in favor of their profits

NEW: In response to former Pioneer CEO Scott Sheffield's alleged collusion to fix oil prices, Groundwork's Executive Director Lindsay Owens released the following statement calling for taxes on the oil and gas industry's excess profits: groundworkcollaborative.org/news/groundwor…

Sometimes companies gouge you with fancy new tricks. Other times their methods are as old as dirt. Whether they are rigging the scales or using fancy new pricing algorithms one thing is constant—they are overcharging you and it’s paying off handsomely.

“By exposing how corporate profiteering results in price increases, [she's] been credited with changing the way people understand inflation.”

ICYMI: Groundwork’s Lindsay Owens is one of @Washingtonian's Most Influential People of 2024!

🚨ICYMI: Last week, FTC confirmed a MASSIVE price-fixing conspiracy driving high gas prices.

Our own Matt Stoller did the math—and found possibly the most outrageous case of greedflation on record. One that's costing Americans $500-$1000 per year.👇🧵
thebignewsletter.com/p/an-oil-price…

In the wake of the pandemic, corporations leapt at the chance to pass on rising costs to consumers and squeeze American’s pocketbooks for more. Now that their costs have stabilized – or, in many cases, come down significantly – it’s time for companies to stop gouging consumers.

The FTC's evidence shows that Big Oil price-fixing alone contributed to 27% of ALL of last year's inflation increases—costing families a WHOPPING $3,000 on average.
thebignewsletter.com/p/an-oil-price…

“For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.”

A must-read op-ed from Gabriel Zucman, making the urgent case for raising taxes on the nation’s billionaires: nytimes.com/interactive/20…

'At every turn, companies are cutting corners on the path to record profits, and American consumers are paying the price,' said Groundwork Collaborative's Bilal Baydoun at a Senate Banking Committee hearing on #shrinkflation . commondreams.org/news/senate-sh…

'Bilal...testified that 'in America today, a fair price, let alone a sweet deal, is harder and harder to come by. In the age of corporate concentration and high-powered algorithms, pricing is in the midst of a troubling transformation.'
commondreams.org/news/senate-sh…