If inflation is going down, why does life still feel so expensive? And what can we do about it? This week, our contributors offer some answers.
Lindsay Owens and Elizabeth Pancotti kick things off by sharing their eyebrow-raising new finding that corporate profits accounted for over half of recent inflation. Stuff doesn’t magically cost more, in other words — we’re just getting gouged. In a must-read piece this week, they share their findings and call for tax hikes on these price-gouging corporations.
Next, Sonali Kolhatkar points to Airbnb as one culprit for higher housing prices. Landlords are buying up vacant units, she explains, and making homes more scarce by turning them into short term rentals. Regulation isn’t a magic wand, she explains, but it’s a good next step.
Then, with Transit Equity Day coming up on February 4, LeeAnn Hall says Congress needs to invest in public transit in small towns and rural areas to bring down transit costs in underserved areas. (It’s a good complement to Liam Crisan’s recent case for making all transit free. If you haven’t, give that one a read too!)
Finally, times like these are when a strong safety net matters most. Don’t miss Candace Baker’s story about how the WIC program helped her family — and why Congress needs to make sure other families don’t fall through the cracks.
Also this week, Jim Hightower skewers GOP calls for a northern border wall. And on the first day of Black History Month, Khalil Bendib mocks the Party of Lincoln’s sudden amnesia about slavery and the Civil War.
New This Week…
It’s Not ‘Inflation’ — We’re Just Getting Ripped Off. Here’s Proof. | Lindsay Owens and Elizabeth Pancotti
Corporate profits accounted for more than half of recent price increases. To stamp out inflation once and for all, we need to crack down on price gouging.
Lawmakers Must Fully Fund the WIC Program | Candace Baker
Half of all babies — including mine — rely on this essential program. But unless Congress acts, millions could face food insecurity.
Airbnb Drives Up Housing Costs for All of Us. Let’s Regulate It. | Sonali Kolhatkar
Corporate landlords are buying up homes and converting them into short-term rentals, but some cities are fighting back.
We Need Public Transit Everywhere, Not Just Big Cities | LeeAnn Hall
For too long, policymakers have prioritized highways over transit, which has been bad for communities big and small. A new bill could change that.
Border Wall Absurdity Is Reaching New Heights | Jim Hightower
Some Republicans are saying we need to wall off the 5,500 mile Canadian border, too. You can’t even satirize this stuff.
Cartoon: Roll Over, Honest Abe | Khalil Bendib
The Party of Lincoln can’t remember what the Civil War was about.
In Case You Missed It…
The Case for Free Public Transit | Liam Crisan
Cities across the U.S. have been embracing a bold new transit policy: zero fares. The results are promising.
I Still Believe in Norman Lear’s America | Svante Myrick
Ours was an unlikely friendship. But the late Hollywood legend, honored at this year’s Emmys, was the most principled and decent person I ever met.
The Rich Own Nearly All Stocks. Here’s How We Level the Playing Field. | Chuck Collins
The bottom half of Americans now own just 1 percent of household stock market wealth. “Baby bonds” could change that.
The Child Tax Credit Changed My Life. Lawmakers Have a Chance to Bring it Back. | Clara Moore
Poverty is a policy choice by lawmakers with warped priorities. Now they have a chance to choose better, if only modestly.
