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Groundwork Collaborative@groundwork.bsky.social |
369 followers 212 following 334 posts
Building an economy that works for all of us. #WeAreTheEconomy
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Groundwork Collaborative
@groundwork.bsky.social
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What's keeping prices high? "Groundwork Collaborative ... reported that corporate profits accounted for more than 53% of inflation from April to September of 2023. Comparatively, over the 40 years prior to the pandemic, profits drove just 11% of price growth."
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: Our Executive Director Lindsay Owens joined @levernews.bsky.social's Lever Time podcast to discuss how corporations broke the nation’s supply chains, and more importantly, how they've used the cover of the pandemic to price gouge the American people.
LISTEN → www.levernews.com/who-broke-th...
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Groundwork Collaborative
@groundwork.bsky.social
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From all of us at Groundwork, happy #IndependenceDay!
Today, we reflect on the values upon which our nation was founded and recommit to building an America with true prosperity and opportunity for all.
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Groundwork Collaborative
@groundwork.bsky.social
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This week, @rooseveltinstitute.bsky.social released a report examining how the 2017 GOP tax law deepened America's racial wealth and income disparities, building on the harm to Black taxpayers in the 1986 Tax Code.
Read the full report:
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Groundwork Collaborative
@groundwork.bsky.social
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Emancipation marked the beginning, not the end, of our nation's work to deliver on the promise of equality. On Juneteenth, we not only celebrate freedom, but recommit to the task of building an economy that brings about true opportunity and prosperity for all Americans.
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: @rooseveltinstitute.bsky.social just released a report examining how the 2017 GOP tax law deepened America's racial wealth and income disparities, building on the harm to Black taxpayers in the 1986 Tax Code.
Read the full report:
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: Our June special issue of The American Prospect concludes with @bilalb.bsky.social's "Taming the Pricing Beast," in which he delves into potential remedies lawmakers can pursue to rein in the predatory pricing strategies running rampant in our economy.
Read more:
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Groundwork Collaborative
@groundwork.bsky.social
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"Two patients in adjoining beds can receive identical treatments, and one is more profitable to the hospital." In the latest installment of our June special issue with The American Prospect, Robert Kuttner sheds a bright light on exploitative hospital pricing:
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: Today, the Federal Open Market Committee begins its two-day meeting as Fed Chair Jerome Powell and his colleagues consider the path forward on interest rates.
Groundwork’s @bilalb.bsky.social reacted with the following statement:
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Groundwork Collaborative
@groundwork.bsky.social
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Our special June issue of The American Prospect uncovering how companies are hiking prices continues with a new piece from Joanna Marsh, exposing the hidden costs of subscriptions on consumers' budgets and our economy. Read "The One-Click Economy" now:
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Groundwork Collaborative
@groundwork.bsky.social
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"The tool the Fed is using to drive inflation down is doing precisely the opposite."
Moody's Mark Zandi and the Urban Institute's Jim Parrott on why “it’s time for the Federal Reserve to declare victory in its war on inflation and cut interest rates."
www.washingtonpost.com/opinions/202...
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The American Prospect
@theprospect.bsky.social
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Our June 2024 special issue on pricing with @groundwork.bsky.social is live! To kick off the issue, @ddayen.bsky.social and Lindsay Owens explain how corporations have shifted from ruthless cost-cutting to price gouging to raise profits at the expense of the public.
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Groundwork Collaborative
@groundwork.bsky.social
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The Direct File pilot proved our government is more than capable of providing a free, public tax-filing service that saves taxpayers time, money, and headache. Investing in the IRS works for working people. We're thrilled that Direct File is here to stay.
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Groundwork Collaborative
@groundwork.bsky.social
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Raising the corporate tax rate is about investing in the American people.
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The American Prospect
@theprospect.bsky.social
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We're having a party with
@groundwork.bsky.social to celebrate the release of our June special issue on pricing! Will we see you in Washington D.C. June 11th?
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Economic Speakers Bureau
@econspeakers.bsky.social
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ICYMI: A coalition of over 100 unions, advocacy groups, & think tanks, including @groundwork.bsky.social, is urging Congress to use the impending expiration of certain 2017 Trump tax law provisions as an opportunity for substantial tax reform. Read: www.thefiscaltimes.com/2024/05/21/1...
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Groundwork Collaborative
@groundwork.bsky.social
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On Memorial Day, we honor those who've given their lives in defense of our freedoms and recommit to building a democracy worthy of their ultimate sacrifice, one with true opportunity and prosperity for all.
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The American Prospect
@theprospect.bsky.social
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Washington D.C.: We're having a party with
@groundwork.bsky.social to celebrate our special issue on pricing on June 11th! Will we see you there? RSVP today:
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Groundwork Collaborative
@groundwork.bsky.social
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A historic coalition of 100+ organizations joined forces to demand Congress pass bold tax reform when Trump tax law provisions expire. Read our letter: groundworkcollaborative.org/news/groundwork-joins-over-100-national-groups-to-urge-congress-to-overhaul-the-tax-code-raise-corporate-rate-in-2025/
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Groundwork Collaborative
@groundwork.bsky.social
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Decades of tax giveaways for the rich and corporations have drained revenues, widened inequality, and made it harder to invest in critical programs. Efforts to reform the tax code must achieve 3 goals: groundworkcollaborative.org/wp-content/uploads/2024/05/EMBARGOED-052124-Tax-Letter-to-Congress.pdf
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: We’ve joined 100+ leading organizations in calling on Congress to pass bold tax reform when Trump tax law provisions expire.
Read the full #TaxLetter: groundworkcollaborative.org/wp-content/uploads/2024/05/EMBARGOED-052124-Tax-Letter-to-Congress.pdf
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Groundwork Collaborative
@groundwork.bsky.social
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"Wall Street tycoons and CEOs didn’t take the heat of inflation — they fanned its flames and families got burned. It’s no wonder people overwhelmingly favor a tax code that’s no longer rigged for corporations." Groundwork's Lindsay Owens on ending the Trump tax scam:
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Groundwork Collaborative
@groundwork.bsky.social
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NEW — Groundwork's Lindsay Owens on raising the corporate tax rate to combat price gouging: "Congress raising the corporate tax rate in 2025 is an opportunity to recoup some of the truly obscene profits corporate America raked in during this period.”
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Groundwork Collaborative
@groundwork.bsky.social
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"High interest rates really forced cracks in [this] recovery, and it’s folks who are on the margins of our economy who are hit first and hit hardest."
@rmabud.bsky.social makes the urgent case for the Fed to lower interest rates in today's New York Times — read more:
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Groundwork Collaborative
@groundwork.bsky.social
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"Wage growth is very overdue. [Americans] have gone years, if not decades in some cases, with stagnant wages or small raises." —Groundwork's Lindsay Owens makes the case for raising wages and identifies corporate profiteering as a culprit behind higher prices
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Groundwork Collaborative
@groundwork.bsky.social
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From concert ticket prices to food delivery fees, businesses are padding their bottom lines by charging consumers junk fees.
These predatory fees diminish people’s ability to shop around as the gap between the price you see & what you pay is getting worse www.wsj.com/finance/inve...
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Groundwork Collaborative
@groundwork.bsky.social
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Lower corporate taxes ➡️ Less to invest in workers, families and communities. Revenues from corporate taxes are a QUARTER of what they were in the 1970s. It’s time to raise the corporate tax rate.
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Groundwork Collaborative
@groundwork.bsky.social
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Did you know: Housing costs are a major driver of inflation overall? Or that the @FederalReserve could be making things worse by keeping inflation rates high?
Let Groundwork's Chief Economist Rakeen Mabud explain: groundworkcollaborative.org/news/groundw...
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Groundwork Collaborative
@groundwork.bsky.social
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“By exposing how corporate profiteering results in price increases, [she's] been credited with changing the way people understand inflation.” ICYMI: Groundwork’s @owenslindsay1 is one of @Washingtonian's Most Influential People of 2024!
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Groundwork Collaborative
@groundwork.bsky.social
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"There's no doubt we have the tools to restore a fair price in America—we just have to use them." Read @groundwork.bsky.social’s Director of Policy and Research @bilalb.bsky.social’s full testimony on shrinkflation and his policy recommendations here:
groundworkcollaborative.org/news/icymi-g...
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Groundwork Collaborative
@groundwork.bsky.social
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On #MayDay, we honor the history of the labor movement and celebrate the courage of union members across our country who continue to stand up for fair pay and working conditions. Unions are essential to building an economy that works for all.
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Economic Speakers Bureau
@econspeakers.bsky.social
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"We can raise the corporate tax rate & disincentivize this corporate profiteering that's costing Americans so much."
ICYMI: @groundwork.bsky.social's Lindsay Owens' #TaxDay message emphasizes the connection between high prices and corporate tax breaks. Read more: bit.ly/44dy7dK
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Groundwork Collaborative
@groundwork.bsky.social
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"Few issues have more currency inside the White House than junk fees ... the administration’s focus on the matter has grown on multiple fronts." We're encouraged by President Biden's continued efforts to rein in corporate greed and build an economy for all.
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Groundwork Collaborative
@groundwork.bsky.social
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MUST READ: Jonathan Chait warns of harm to seniors if a second Trump administration were to get its way with deeper tax giveaways for the rich:
"One possibility would be to pair tax cuts for the rich with deep cuts to Social Security and Medicare."
nymag.com/intelligence...
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Groundwork Collaborative
@groundwork.bsky.social
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Oxfam's analysis of 125 American billionaires shows their individual investments result in ~ONE MILLION times more emissions than the average person.
On #EarthDay and every day, the urgency of the climate crisis demands progressive and fair tax reform.
www.oxfamamerica.org/explore/rese...
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Groundwork Collaborative
@groundwork.bsky.social
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ICYMI: Yesterday, in response to President Biden's remarks on tax reform, our Executive Director Lindsay Owens called on Congress to "undo the damage" of the Trump Tax Scam.
Read her full statement: groundworkcollaborative.org/news/groundworks-lindsay-owens-reacts-to-biden-tax-speech/
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: In response to President Biden's remarks on tax policy today in Scranton, our Executive Director Lindsay Owens called on Congress to "undo the damage" of the Trump Tax Scam and "create a tax code that works for everyday people."
Read her statement:
groundworkcollaborative.org/news/groundw...
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Groundwork Collaborative
@groundwork.bsky.social
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Tax Day is tomorrow!
For the first time ever, nearly 19 million Americans across the country are eligible to file their taxes online, FOR FREE, directly with the IRS. And it's all thanks to the Inflation Reduction Act.
See if you qualify and get started: directfile.irs.gov
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Groundwork Collaborative
@groundwork.bsky.social
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Greedflation is a major driving force behind higher prices — and our research is shining a bright light on it: groundworkcollaborative.org/work/inflation-revelation-how-outsized-corporate-profits-drive-rising-costs/
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Groundwork Collaborative
@groundwork.bsky.social
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An overwhelming majority of Americans agree:
A tax code in which the wealthy and big corporations pay their fair share is key to growing our economy and building a freer, fairer society.
www.bloomberg.com/news/article...
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Groundwork Collaborative
@groundwork.bsky.social
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Companies are using "the cover of inflation to justify price increases, so consumers accept them." As our Executive Director Lindsay Owens writes, companies like Walmart "are openly bragging to investors about how well it’s working.” Let's call it what it is: greedflation. www.nj.com/politics/202...
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Groundwork Collaborative
@groundwork.bsky.social
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Let's be clear: Holding interest rates at a 23-year-high threatens the economic security of millions and flies in the face of the incredible progress we've made in bringing down inflation.
This moment demands interest-rate relief for working families.
www.yahoo.com/news/fed-dec...
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: Following the Federal Reserve’s policy announcement this afternoon, our Executive Director Lindsay Owens reacted with the following statement: groundworkcollaborative.org/news/lindsay-owens-reacts-to-fed-rate-decision/
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Groundwork Collaborative
@groundwork.bsky.social
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Build, baby, build! (And cut interest rates.)
www.politico.com/news/2024/03...
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Groundwork Collaborative
@groundwork.bsky.social
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NEW: Joint Economic Committee Democrats have released an updated report exposing corporate greed in America, citing our research, and the results are staggering.
"While we were struggling, mega corporations were raking in record profits."
Read the full report: www.jec.senate.gov/public/index...
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Groundwork Collaborative
@groundwork.bsky.social
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Following last month's strong jobs report, our Director of Policy and Research called for rate cuts: "High interest rates will only slow our clean energy transition and put families in more debt."
www.commondreams.org/news/congres...
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Groundwork Collaborative
@groundwork.bsky.social
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35 major U.S. companies paid top executives more than they paid in federal income tax from 2018 to 2022, per @4taxfairness.bsky.social and the Institute for Policy Studies.
It's more proof of the urgent need for a tax code that asks the wealthy to pay their fair share.
fortune.com/2024/03/15/t...
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Groundwork Collaborative
@groundwork.bsky.social
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35 major US corporations paid top executives more than they paid in federal income tax from 2018 to 2022. Outsized executive compensation underscores the need for a tax code that makes corporations & the wealthy pay their fair share.
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Groundwork Collaborative
@groundwork.bsky.social
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NEW BLOG POST: @claraewilson.bsky.social dives into the FTC's move to block the Kroger-Albertsons merger, including how saying 'no' to this merger helps stop excess profit-seeking and protects workers:
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Groundwork Collaborative
@groundwork.bsky.social
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Today’s #EqualPayDay is just one of many throughout the year that prompt us all to consider the race & gender discrepancies that persist throughout our workforce. These days serve as a reminder that pay parity is key to building an economy where all of us can thrive.
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