Gouging Americans out of House and Home

Bill Boone eats very little meat and avoids expensive gourmet foods altogether.
Yet Boone’s grocery bill still tops $280 a week at a Kroger in Benton, Ark., thanks to profiteering on a scale the 92-year-old says he has never witnessed before.
Corporations may try to blame the pandemic and Russia’s invasion of Ukraine for astronomical price increases, but that’s merely a cover story for shameless price-gouging that’s left millions of Americans struggling to survive.
“Big money people are the trouble,” summed up Boone, a longtime member of the United Steelworkers (USW) who recently saw the price of his favorite coffee double.
“It’s all these brands,” Boone, who worked at Reynolds and Alcoa, said of the rampant price hikes. “It’s all the basic things people have in their homes, like salt and pepper. I feel badly for these families with three and four kids.”
As struggling Americans burn through their savings and scrimp on meals to make ends meet, companies that jacked up prices on everything from cereal to toiletries post ever-higher profits.
While parents take second jobs and even hire out their children as movers and gardeners to make extra money, CEOs brag about the exploitation that’s enabling them to pad their own pockets and shower shareholders with dividends.
“A little bit of inflation is always good in our business,” declared Rodney McMullen, CEO of Kroger, which raised prices on customers like Boone before raking in $1.5 billion in operating profits for the first quarter this year.
Procter & Gamble, manufacturer of diapers and other essentials, plans to raise prices throughout the year even though it’s forecasting higher profits. “The consumer is resilient,” said Andre Schulten, the company’s chief financial officer, blithely dismissing the pain he’s inflicting.
Not even President Joe Biden’s public shaming of oil companies was enough to curb their unprecedented profit-mongering. They still refuse to increase production, even as the average cost of a gallon of gas hovers around $5 and truckers like Boone’s son-in-law spend hundreds of dollars to fill up their rigs.
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