“It’s time for the president to demand that Congress pass a windfall profits tax on Big Oil and use the revenue to provide rebates to consumers NOW!” wrote Sen. Bernie Sanders. ExxonMobil indicated in a securities filing submitted just ahead of the holiday weekend that its profits doubled in the second quarter of 2022 compared to the first […]
“We take on the risk. They take away the profits,” said one vaccine equity advocate. The Massachusetts-based pharmaceutical giant Moderna disclosed in a financial filing this week that it received another $300 million in U.S. government funding for coronavirus vaccine development in March even as the company hoarded its technology from the world—and attempted to undermine a critical […]
“Corporations are looting America,” said former Labor Secretary Robert Reich. In a year when many U.S corporations enjoyed record-breaking profits, some of the wealthiest companies in the nation paid little-to-no taxes according to a new analysis—or even accepted tax refunds—while working Americans continued paying their normal tax rates and faced rising prices for essentials. [pullquote]”These are […]
New data reveals a massive “transfer of wealth” from the working class, which is paying higher prices as consumers, to the investor class reaping the financial benefits. As inflationary pressure drives up costs throughout the economy, a new analysis out Wednesday reveals that corporations are raking in record profits by jacking up prices at the grocery store, gas pump, and […]