President Biden to big corporations during his State of the Union:
“I think I have a better idea to fight inflation. Lower your costs. Not your wages.”

At Civic Action, we’re focused on building the economy from the middle out, not the top down. So, when President Biden says we don’t have to hurt workers to fight inflation, we completely agree, but do you agree?

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Hi, it’s Paul, a member of Team Civic Action. I sent you a message about inflation a few weeks ago, and I wanted to reach out because President Biden addressed the issue in his State of the Union speech just a few days ago. 

In my last message, I told you about the Business Insider article I wrote on inflation and corporate greed. Neoliberals will tell you that inflation is all caused by some all-seeing, all-knowing free market. The truth is, people set prices, and 60% of the price increases that ordinary Americans are paying today are going directly to corporate profits – not to compensate for global supply issues or higher production costs. It's price-gouging, plain and simple.

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During his address, President Biden referenced corporations’ role in the economic turmoil we’ve experienced during the pandemic. While trickle-down politicians traditionally lowered inflation by raising interest rates, that hurts ordinary Americans because it slows the economy and shrinks the labor market. President Biden’s plan requires corporations to pay 15% more in taxes, which will fund government programs that lower costs of prescriptions, energy, and child care.

“One way to fight inflation is to drive down wages and make Americans poorer,” President Biden said. “I think I have a better idea to fight inflation. Lower your costs. Not your wages.”

At Civic Action, we’re focused on building the economy from the middle out, not the top down. We know that trickle-down policies that have allowed companies to get away with paying next to nothing in wages and taxes have hurt the economy. So we believe that our plan to fight inflation shouldn’t hurt workers we’re relying on to keep our economy running – but we want to know what you think. 

Inflation is a hotly debated topic right now, so we’re running a poll to find out what Americans think our country should do in response to rising prices. Please, answer our poll now:

President Biden says we don’t have to hurt workers to fight inflation. Do you agree?

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Thank you, 

Paul Constant



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