It’s not hard to understand why Trump wishes this to be true. He is, after all, a one-man driver of the affordability crisis. As we’ve noted before, the mayhem he has unleashed on the streets of cities like Minneapolis is making it harder for ordinary Americans to make ends meet. The American people are bearing most of the cost of his chaotic tariffs scheme. And gas prices are set to spike anew now that he’s launched a war in Iran. Still, as with any problem playing out in the pocketbooks of voters, the president has plenty of company on the wrong side of the fight—like the corporate privateers who are driving the crisis deeper while profiting off of our pain.
The most mortal of these, per the IPS, is the way these 20 firms’ “low-wage business models have left many of their workers with no choice but to rely on public assistance.” Fifteen of the companies’ median pay last year was “below the $35,631 income limit for a family of three to be eligible for Medicaid in most states”; at 13 of them, the pay fell short of the “$33,576 threshold for a family of three to be eligible for SNAP.” It’s bad enough when your business model essentially plans for government programs to provide the money you’re not willing to pay. But as TNR’s Grace Segers has relentlessly reported over the past year, the funding cuts and regulatory hurdles embedded in Trump’s “One Big Beautiful Bill” have pushed these programs, and their beneficiaries, into crisis.
Meanwhile CEO pay is doing what it always does—driving income inequality. The average CEO pay at these 20 firms was $18.6 million last year, while average CEO-to-median worker pay ratio “stood at a staggering 899 to 1, compared to the S&P 500 average of 285 to 1.” Brian Niccol of Starbucks took home the award for the most nonsensical disparity between CEO and employee income: He earns $95,801,676, while the median salary for a Starbucks employee was a mere $14,674.
It goes without saying that the ideological orientation of the White House and Congress guarantees little progress will be made on any of these fronts—especially with Trump looking backward to blame Democrats for the wreckage he’s meted out. But November’s elections loom—and as TNR contributor Dylan Gyauch-Lewis reported, poll after poll reveals a public hungry for lawmakers to confront corporate power directly, and that “large majorities of Americans blame corporations for their affordability issues.” There’s never been a better time to make some corporate enemies. These 20 will do for a start.
This article first appeared in Power Mad, a weekly TNR newsletter authored by deputy editor Jason Linkins. Sign up here.
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