Demonstrators rally in front of PhRMAs Washington, D.C. office to protest high prescription drug prices on September 21, 2021.
(Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images)
Feb 28, 2022
New polling results published Monday show that a majority of U.S. voters see corporate profiteering as a key driver of inflation and support a federal crackdown on companies that are "unfairly" pushing costs onto consumers.
"Policymakers should listen to voters by cracking down on corporations raising prices unfairly."
Conducted by Data for Progress and released by the Groundwork Collaborative, the survey found that 63% of U.S. voters--including 51% of Republicans, 76% of Democrats, and 62% of Independents--believe that "large corporations are taking advantage of the pandemic to raise prices unfairly on consumers and increase profits."
Just 29% of voters believe the narrative--advanced by lavishly compensated company executives--that "large corporations have no choice but to raise prices in response to rising costs," the poll found.
With the U.S. inflation rate currently at a level not seen in decades, debates have raged in Congress, the media, and inside the Biden administration over what's behind the persistent price increases.
While experts argue that a number of factors are to blame--including supply chain failures rooted in decades of neoliberal policymaking and exacerbated by the coronavirus pandemic--the Data for Progress survey found that 52% of voters believe corporate price gouging contributes "a great deal" to inflation.
The poll also showed that 80% of U.S. voters want the federal government to "crack down on large corporations that raise prices unfairly," a position that aligns with the demands of progressive lawmakers.
"Big corporations aren't shy in telling their investors how they're taking advantage of the pandemic to jack up prices and pad their own profits--and the public is noticing," Lindsay Owens, executive director of the Groundwork Collaborative, said in a statement Monday. "Policymakers should listen to voters by cracking down on corporations raising prices unfairly, addressing corporate consolidation and monopoly power, and increasing taxes on corporations."
The Data for Progress poll was conducted between February 18 and 22 and included 1,549 likely voters. The margin of error is +-3 percentage points.
\u201cNew poll from @DataProgress & @Groundwork. Americans are catching on to corporations' inflation games.\u201d— Lindsay Owens, PhD (@Lindsay Owens, PhD) 1646073140
The new survey data was released after several high-profile corporations--including Starbucks and Amazon--announced plans to hike prices on goods and services even after reporting rising profits.
To start the new year, the New York-based pharmaceutical giant Pfizer hiked prices on 125 of its products--from its pneumonia vaccine to a treatment for people with cardiovascular disease--even after raking in huge profits from its coronavirus vaccine in 2021.
Overall, amid a devastating pandemic and ongoing economic pain for low-income households, top U.S. corporations saw their profits surge to record highs in 2021.
"Take a look around the economy today," Sen. Bernie Sanders (I-Vt.), the chair of the Senate Budget Committee, wrote in a Twitter post last week. "McDonald's: profits up 59%. They're raising prices. Starbucks: record profits. They're raising prices. Amazon: record profits. Shock of shocks! They're raising prices!"
"Maybe--just maybe--we've got a corporate greed problem," Sanders added.
Join Us: News for people demanding a better world
Common Dreams is powered by optimists who believe in the power of informed and engaged citizens to ignite and enact change to make the world a better place. We're hundreds of thousands strong, but every single supporter makes the difference. Your contribution supports this bold media model—free, independent, and dedicated to reporting the facts every day. Stand with us in the fight for economic equality, social justice, human rights, and a more sustainable future. As a people-powered nonprofit news outlet, we cover the issues the corporate media never will. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
amazon.comcorporate powerpfizercorporate greedgroundwork collaborativeinflationprice gougingstarbuckssupply chaincorporate profits
New polling results published Monday show that a majority of U.S. voters see corporate profiteering as a key driver of inflation and support a federal crackdown on companies that are "unfairly" pushing costs onto consumers.
"Policymakers should listen to voters by cracking down on corporations raising prices unfairly."
Conducted by Data for Progress and released by the Groundwork Collaborative, the survey found that 63% of U.S. voters--including 51% of Republicans, 76% of Democrats, and 62% of Independents--believe that "large corporations are taking advantage of the pandemic to raise prices unfairly on consumers and increase profits."
Just 29% of voters believe the narrative--advanced by lavishly compensated company executives--that "large corporations have no choice but to raise prices in response to rising costs," the poll found.
With the U.S. inflation rate currently at a level not seen in decades, debates have raged in Congress, the media, and inside the Biden administration over what's behind the persistent price increases.
While experts argue that a number of factors are to blame--including supply chain failures rooted in decades of neoliberal policymaking and exacerbated by the coronavirus pandemic--the Data for Progress survey found that 52% of voters believe corporate price gouging contributes "a great deal" to inflation.
The poll also showed that 80% of U.S. voters want the federal government to "crack down on large corporations that raise prices unfairly," a position that aligns with the demands of progressive lawmakers.
"Big corporations aren't shy in telling their investors how they're taking advantage of the pandemic to jack up prices and pad their own profits--and the public is noticing," Lindsay Owens, executive director of the Groundwork Collaborative, said in a statement Monday. "Policymakers should listen to voters by cracking down on corporations raising prices unfairly, addressing corporate consolidation and monopoly power, and increasing taxes on corporations."
The Data for Progress poll was conducted between February 18 and 22 and included 1,549 likely voters. The margin of error is +-3 percentage points.
\u201cNew poll from @DataProgress & @Groundwork. Americans are catching on to corporations' inflation games.\u201d— Lindsay Owens, PhD (@Lindsay Owens, PhD) 1646073140
The new survey data was released after several high-profile corporations--including Starbucks and Amazon--announced plans to hike prices on goods and services even after reporting rising profits.
To start the new year, the New York-based pharmaceutical giant Pfizer hiked prices on 125 of its products--from its pneumonia vaccine to a treatment for people with cardiovascular disease--even after raking in huge profits from its coronavirus vaccine in 2021.
Overall, amid a devastating pandemic and ongoing economic pain for low-income households, top U.S. corporations saw their profits surge to record highs in 2021.
"Take a look around the economy today," Sen. Bernie Sanders (I-Vt.), the chair of the Senate Budget Committee, wrote in a Twitter post last week. "McDonald's: profits up 59%. They're raising prices. Starbucks: record profits. They're raising prices. Amazon: record profits. Shock of shocks! They're raising prices!"
"Maybe--just maybe--we've got a corporate greed problem," Sanders added.
From Your Site Articles
New polling results published Monday show that a majority of U.S. voters see corporate profiteering as a key driver of inflation and support a federal crackdown on companies that are "unfairly" pushing costs onto consumers.
"Policymakers should listen to voters by cracking down on corporations raising prices unfairly."
Conducted by Data for Progress and released by the Groundwork Collaborative, the survey found that 63% of U.S. voters--including 51% of Republicans, 76% of Democrats, and 62% of Independents--believe that "large corporations are taking advantage of the pandemic to raise prices unfairly on consumers and increase profits."
Just 29% of voters believe the narrative--advanced by lavishly compensated company executives--that "large corporations have no choice but to raise prices in response to rising costs," the poll found.
With the U.S. inflation rate currently at a level not seen in decades, debates have raged in Congress, the media, and inside the Biden administration over what's behind the persistent price increases.
While experts argue that a number of factors are to blame--including supply chain failures rooted in decades of neoliberal policymaking and exacerbated by the coronavirus pandemic--the Data for Progress survey found that 52% of voters believe corporate price gouging contributes "a great deal" to inflation.
The poll also showed that 80% of U.S. voters want the federal government to "crack down on large corporations that raise prices unfairly," a position that aligns with the demands of progressive lawmakers.
"Big corporations aren't shy in telling their investors how they're taking advantage of the pandemic to jack up prices and pad their own profits--and the public is noticing," Lindsay Owens, executive director of the Groundwork Collaborative, said in a statement Monday. "Policymakers should listen to voters by cracking down on corporations raising prices unfairly, addressing corporate consolidation and monopoly power, and increasing taxes on corporations."
The Data for Progress poll was conducted between February 18 and 22 and included 1,549 likely voters. The margin of error is +-3 percentage points.
\u201cNew poll from @DataProgress & @Groundwork. Americans are catching on to corporations' inflation games.\u201d— Lindsay Owens, PhD (@Lindsay Owens, PhD) 1646073140
The new survey data was released after several high-profile corporations--including Starbucks and Amazon--announced plans to hike prices on goods and services even after reporting rising profits.
To start the new year, the New York-based pharmaceutical giant Pfizer hiked prices on 125 of its products--from its pneumonia vaccine to a treatment for people with cardiovascular disease--even after raking in huge profits from its coronavirus vaccine in 2021.
Overall, amid a devastating pandemic and ongoing economic pain for low-income households, top U.S. corporations saw their profits surge to record highs in 2021.
"Take a look around the economy today," Sen. Bernie Sanders (I-Vt.), the chair of the Senate Budget Committee, wrote in a Twitter post last week. "McDonald's: profits up 59%. They're raising prices. Starbucks: record profits. They're raising prices. Amazon: record profits. Shock of shocks! They're raising prices!"
"Maybe--just maybe--we've got a corporate greed problem," Sanders added.
From Your Site Articles
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.