John,

The latest inflation numbers came out yesterday and hit a 40-year high. With gas prices set to keep soaring thanks to Putin, Americans are furious.

Predictably, Republicans are pushing all the wrong answers, blaming "big government" and calling for more tax cuts for the rich, weaker environmental protections, and interest rate increases aimed at throwing millions of Americans out of work.

That's all nonsense. The real structural problem is giant, monopolistic corporations, which are taking advantage of a lack of real competition to jack up prices even as they bank historic profits.

It's absolutely critical that the American people understand what's really happening here, or else they won't know what policy solutions to demand and could end up rewarding Republicans in the midterms, making things even more disastrous for low-income people, who are hit hardest by rising prices.

That's why the team at Inequality Media Civic Action has produced explainer videos and other social media content to connect the dots between inflation and corporate concentration, and we're starting to gain traction. But the higher gas prices get, the more susceptible the American people could be to Republicans' lies.

That's why we need to ramp up our public education campaign right now. Will you chip in and help us continue to produce and distribute our proven-effective videos to make sure the American people know the truth about inflation?

From Big Oil to paper companies to online retailers, corporations aren't raising prices to keep pace with rising costs or overcome global supply chain issues or even make up for the current squeeze on Russian oil and gas. They're doing it because they can.

Think about the energy market: Only a few entities have access to the land and pipelines that control the oil and gas still powering most of the world. With so few companies in control, they can easily coordinate price increases, and rake in record profits. Last year, in fact, a top Chevron exec all but admitted to reporters that the company was constraining supply to pad its bottom line.

And it's not just the oil companies. Everywhere Americans turn, they face concentrated corporate monopolies moving in lockstep.

The lion's share of the market for toilet paper, for instance, is controlled by just two companies: P&G and Kimberly-Clark. Last April, when they jacked up prices, we had no choice but to pay up.

Ditto with the junk food industry. Last April, PepsiCo announced it was increasing prices. Then, just like clockwork, its only major competitor, Coca-Cola, announced similar price increases.

Of course the companies blamed higher costs on labor, freight, and raw materials. But in every case, these companies were also recording record profits, and their CEOs were making money hand over fist.

Here's an idea: combat inflation by reviving antitrust enforcement, which has been dormant since the Reagan years. But if Republicans convince voters that inflation is all Joe Biden's fault, that will never happen.

We're making tremendous progress educating the public on the untold truth about inflation, and more and more people are spreading the word. But we need to do even more before Republicans lie their way to victory in the midterm elections, relax environmental regulations, and give corporations even more power.

Will you make a donation to Inequality Media Civic Action and help make sure the American people know the truth about inflation and corporate greed?

Thanks for helping us spread the truth,

Robert Reich
Inequality Media Civic Action