, Democratic lawmakers and the Biden administration should seek legislation that puts more of the onus of fighting inflation on big corporations. Such legislation would:
— Allow the Justice Department to bust up monopolies (and prevent further consolidation through mergers and acquisitions) when three or fewer corporations have more than half the sales of a particular market.
— Direct the Federal Trade Commission to find that any such corporation has engaged in unlawful price gouging whenever it has raised prices higher than the rate of inflation, and impose a fine that would claw back those unlawful gains.
— Permit the Treasury Department to impose a windfall profits tax on large corporations, above a specific reasonable rate of return or profit margin.
If Republicans won’t go along, Biden and the Democrats should make this a major campaign issue for 2024.
They should ask the public: Do you want more jobs and higher wages, or do you want large corporations making fatter profits by raising prices?
olddogthoughts 
You must be logged in to post a comment.