Not long ago, the government barred former Pioneer Oil CEO Scott Sheffield from joining the board of ExxonMobil because Sheffield had allegedly colluded with OPEC to fix oil prices — and squeeze working Americans at the pump.
But Big Oil isn’t the only industry that’s been gouging consumers since the pandemic, Lindsay Owens writes this week. In fact, a whole raft of companies have been raising prices far above their input costs, blaming the increases on inflation, reporting huge profits — and then paying little in taxes. This week in OtherWords, Lindsay explains how the 2017 Trump tax cuts incentivized this kind of abuse — and how Congress will have a chance to fix it next year.
Also this week, Jessica Garcia explains how home insurers are leaving climate-vulnerable communities high and dry — or in other cases, flooded. Sonali Kolhatkar writes about how big corporations profit from peddling unhealthy food, making Americans feel bad about themselves, and then selling expensive weight loss drugs. And Jim Hightower lifts up the nurses on strike against their corporate employers.
New This Week…
Trump’s Corporate Tax Cuts Paved the Way for Inflation | Lindsay Owens
The former president made it more profitable for companies to gouge us. When those cuts expire next year, we’ll have an opportunity to get our money back.
‘Bluelining’ Leaves Climate Vulnerable Communities Without Home Insurance | Jessica Garcia
Insurers are pulling out of areas prone to climate risk — even as they insure the fossil fuel companies contributing to that risk. These communities deserve better.
The Big Business of Obesity and Shame | Sonali Kolhatkar
Big business profits by plying Americans with unhealthy foods — and profits again by peddling weight loss drugs. What we need is regulation, not shame.
God Bless Nurses — and Please Hurry! | Jim Hightower
Nurses are fighting back against corporations — including religiously affiliated hospital chains — that profit from their low pay and severe understaffing.
Cartoon: Biden’s Red Lines | Khalil Bendib
The Biden administration’s reluctance to hold Israel accountable is deadly.
In Case You Missed It…
This Graduation Season, Debt Relief Still Feels Out of Reach for Young Borrowers |
The Biden administration is moving to cancel debt for borrowers who’ve been in repayment for decades. What about those paying steep college costs today?
I Run a Food Pantry but It’s Not Enough. We Need Funding for SNAP. | I’m proud to help my neighbors. But food donations are no substitute for government nutrition programs like SNAP, which is now under threat.
Southern Autoworkers Can Reverse Decades of Job Quality Decline | Marc Bayard and Dev Wakeley
Automakers rely on non-union plants in the South to drive down wages across the country. A UAW victory in Tennessee and an upcoming vote in Alabama could change that.
The Beginning of the End of Cannabis Prohibition | The federal government is moving toward “rescheduling” cannabis to recognize its medicinal use. That’s not far enough — but it’s a major step forward.
