As people go to the polls believing that President Biden is responsible for our presently high cost of living, the online newsletter, Wall Street on Parade, informs us that while corporate profits between 1974 and 2019 were an average of 11.4%, between 2020 and 2021, those profits rose to 53.9%. That means that over half of the increase in prices that we have been paying for everything were the simple result of corporate greed.
Comparing labor costs during the same two periods, the cost of labor represented 61.8% of corporate input while in the past two years, they were a mere 7.9%. Those same corporations have spent over $1 billion dollars to support their politicians and political causes.
In other words, our national problems are largely caused by corporate greed, both directly and indirectly.
Louise Amyot
Greenfield