We still not factoring in pure profit vs actual overhead on big chain price increases?
Not even talking about it?
Ok.
this post was submitted on 30 Jul 2023
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There's lots of discussion of grocery chain profiteering and what should be done about it in other posts and other articles. There's no question profits are part of the problem, and attacking those profits might be part of a solution.
must be my luck. i keep seeing articles that mention inflation, but haven't had the luck to see people addressing the profit, outside of katie porter from the states. can't get over the absurd hoarding of new wealth by the rich, and seeing the costs for basic needs go up constantly is a bit distressing within that context.
I think, and I've noticed this a lot with local radio. Big media companies shy away from pointing fingers and criticizing ANY potential advertisers. I guess they don't want to bite the hand that feeds them.
This is quite problematic.
"Inflation" my arse.
Handwaving the obvious profiteering on groceries as "inflation" is disingenuous at best. Gasoline has been overprices due to obvious profiteering for years, but all people complain about is the tax portion of the cost (which is significant but not the lion's share of the cost.)
Gas tax (before HST) ranges 25.10-48.05 Β’/L
Out the window I see 182.9 Β’/L.
Without HST that's 159.08 Β’/L.
Fuel tax is 32.20, leaving 126.88 Β’/L.
All together, that's 30.6% tax, 69.4% operating and profit.
The 'fun' part is, the more gas prices go up, the less percentage goes to tax.
32% increase for me which actually seems like less than I expected. With everything I actually buy, I expect it to be closer to a 50% increase, and that's with switching everything to the cheaper brands
That's how it feels for me as well.
Nothing essential should be making a profit for anyone. The bare bones nutritional requirements should be free. Minimal housing should be free. Healthcare should be free. Access to clean water should be free. Everything deemed essential should be provided by the government at the lowest possible cost to the citizens. If you want cut lead crystals on everything then pay for that but the basics should be free or affordable. NOBODY SHOULD BE MAKING PROFITS OFF OF ESSENTIALS!!!!!