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Watch: Chart-armed Katie Porter proves that corporate greed is the primary cause of inflation
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Watch: Chart-armed Katie Porter proves that corporate greed is the primary cause of inflation
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During a House of Representatives hearing on Wednesday, United States Congresswoman Katie Porter (D-California) grilled Mike Konczal, the director of Macroeconomic Analysis at the Roosevelt Institute, over the primary cause of inflation in the post-COVID-19 economy.
Equipped with one of her easy-to-read, data-filled posters, Porter got Konczal to admit that surging corporate profits are forcing American consumers to pay significantly more for goods and services.
“According to this chart, what is the biggest driver of inflation during the pandemic? The blue – the dark blue is the recent period,” Porter pointed out.
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“It would be corporate profits,” Konczal confirmed.
