John,
Shrinkflation is a corporate tactic that's picking the pockets of hard working Americans. By quietly shrinking product sizes while keeping prices unchanged, big companies are sneakily imposing hidden price hikes on unsuspecting consumers.
The proof is in the numbers -- this shrinkflation scheme has lined the coffers of corporate fat cats with record profits. From July 2020 to July 2022, while working people endured a painful 14% inflation rate, after-tax corporate profits skyrocketed by an obscene 74%.
Big businesses shamelessly exploited inflation fears to stuff their own pockets at the expense of American shoppers. It's a slap in the face to millions of consumers already barely scraping by.
But there's a solution -- the Shrinkflation Prevention Act now before Congress. This crucial bill would finally allow the FTC to put a leash on runaway shrinkflation. It would give regulators and state law enforcement sharp teeth to bite back at companies that try to sucker shoppers with deceptive packaging ploys.
It’s time to stop corporate price gouging in its tracks. Urge your members of Congress to pass the Shrinkflation Prevention Act now.
Since January 2019, shrinkflation has driven up the cost of basic paper products by a staggering 34.9%, with 10.3% of that due to downsized packages alone.
It's a sly trick to squeeze more cash out of struggling families.
Thankfully, President Biden put greedy corporations on notice in his Super Bowl video earlier this year, blasting them for using inflation as a smokescreen to gouge hard-hit consumers.
He declared it's past time we hold big business accountable when they treat our wallets like their personal piggy banks.
If you're sick of getting hosed at the grocery store, it's time to fight back. Watch the President's video, then flood your representatives with demands to pass the Shrinkflation Prevention Act immediately.
Thank you for working to protect consumers from profit-driven trickery.
- Amanda
Amanda Ford, Director
Democracy for America
Advocacy Fund
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