Judd Legum

Judd Legum @JuddLegum

@soledadobrien There are only a couple of gas stations in that Capitol Hill area and they charge about $1 more per gallon than other stations in DC — PolitiTweet.org

Judd Legum @JuddLegum

@LovesCheese1 I'm not saying profit margins should be zero. I'm saying they will approach zero in a fully competitive market. Markets are never fully competitive but the trend toward higher corporate profits shows they are getting less competitive. — PolitiTweet.org

Judd Legum @JuddLegum

You'll hear a lot about the inflation numbers that are out today. October inflation hit an annual rate of 6.2%, the highest in 30 years. But you won't hear about one driving force behind increased prices ⬇️ — PolitiTweet.org

Judd Legum @JuddLegum

Republican billionaires are very thankful for Joe Manchin — PolitiTweet.org

Judd Legum @JuddLegum

9. For in-depth reporting on how corporations use and abuse power, subscribe to my newsletter, Popular Information. It's free to sign up --> https://t.co/TfpCItdVSo — PolitiTweet.org

Judd Legum @JuddLegum

8. Kroger CEO Rodney McMullen was quite open about his intention to exploit inflation to increase profits. "A little bit of inflation is always good in our business," McMullen said. https://t.co/md7itT4Z8C — PolitiTweet.org

Judd Legum @JuddLegum

7. It's not just P&G. PepsiCo, Coca-Cola, Whirlpool, Conagra, Hasbro, and Chipotle all announced both price increases and reported increased profits. https://t.co/md7itT4Z8C — PolitiTweet.org

Judd Legum @JuddLegum

6. How can P&G get away with selling diapers at large margins? The diaper market isn't very competitive. The market is dominated by P&G and Kimberly Clark, which also raised its prices. Consumers don't have options. https://t.co/md7itT4Z8C — PolitiTweet.org

Judd Legum @JuddLegum

5. But in its last quarterly earnings report, P&G reported $5 billion in profits on margins of 24.7%. The profit margin INCREASED by about 5% since it was jacked up prices. @ProcterGamble also spent about $3 billion buying its own stock https://t.co/md7itT4Z8C — PolitiTweet.org

Judd Legum @JuddLegum

4. Let's take @ProcterGamble as an example. It produces a large range of consumer goods, including diapers. In April, it announced that it would be implementing price increases in the mid to high single digits to offset "rising costs for raw materials" https://t.co/md7itT4Z8C — PolitiTweet.org

Judd Legum @JuddLegum

3. In other words, corporations are not being *forced* to raise prices to stay afloat. They are choosing to raise prices to maintain large profit margins because they have enough market power to do so without losing customers https://t.co/md7itT4Z8C — PolitiTweet.org

Judd Legum @JuddLegum

2. In a competitive economy, profit margins should approach zero (as long as there are reasonable substitutes) In the US, corporate profits as a share of the American economy have risen dramatically over the last two decades, from 5% of GDP to nearly 12% https://t.co/md7itT4Z8C https://t.co/RFbzJVhegQ — PolitiTweet.org

Judd Legum @JuddLegum

1. Everyone is talking about rising prices and there are a lot of factors that contribute to inflation but one important factor is almost never discussed: concentrated corporate power Follow along if interested https://t.co/md7itT4Z8C — PolitiTweet.org

Judd Legum @JuddLegum

Your TV (and Twitter) is filled with people who claim to know EXACTLY what went wrong in the last election and EXACTLY what to do to win the next one. These people have no idea what they are talking about. — PolitiTweet.org

Judd Legum @JuddLegum

Two things that political pundits will not tell you: 1. No one knows exactly what drives the outcome of any particular election 2. Even if you could figure it out, every election is different — PolitiTweet.org

Judd Legum @JuddLegum

The @nytimes invested in @OpenWebHQ, a commenting and advertising platform. The deal values OpenWeb at $1B OpenWeb claims to offer advertisers "trusted spaces for quality conversations that move our society forward" But it partners with The Daily Wire https://t.co/1Mjrr6ZCg1 https://t.co/wUgEEA7VEF — PolitiTweet.org

Judd Legum @JuddLegum

6. More corporations will resume donating when they think people have stopped paying attention. One easy way to stay informed is to subscribe to the Popular Information newsletter. It's free to sign up --> https://t.co/TfpCItdVSo — PolitiTweet.org

Judd Legum @JuddLegum

5. If you want reality, we've got you covered. Popular Information has been keeping the January 6 corporate accountability index updated. You can learn which companies are keeping their pledges and which are not. https://t.co/yOUfjiVZ6q — PolitiTweet.org

Judd Legum @JuddLegum

4. What this story involves is GOP lobbyists trying to create a narrative of "momentum" to encourage corporate PACs to send cash. All the other corporations are going to start giving soon! Don't be left behind! It's not reality. https://t.co/2JvZx4oNVQ — PolitiTweet.org

Judd Legum @JuddLegum

3. Lobbyists have been making similar predictions since February. And while some major companies like @Cigna and @ATT have violated their pledges, dozens of other major corporations have kept their word. https://t.co/2JvZx4oNVQ — PolitiTweet.org

Judd Legum @JuddLegum

2. Politico wrote a story with the headline: "GOP lobbyists say corporate America is coming back into the tent" But when you READ the story you'll find that this is GOP lobbyists PREDICTING that corporations will end their donation freeze soon https://t.co/2JvZx4oNVQ https://t.co/ebJa0F2PXy — PolitiTweet.org

Judd Legum @JuddLegum

UPDATE: Republican lobbyists are "frustrated," pushing corporate PACs to resume contributions This reflects the reality that dozens of major corporations have stuck by their pledges and have not resumed contributing to GOP objectors https://t.co/2JvZx4oNVQ — PolitiTweet.org

Judd Legum @JuddLegum

RT @jimsciutto: If it’s such a real and pervasive threat, why the need to fake it? — PolitiTweet.org

Judd Legum @JuddLegum

I think Kevin McCarthy is very clear: Republicans do not want money from corporate PACs. So corporations that have pledged not to donate to McCarthy and other Republican objectors should feel no pressure whatsoever to resume. — PolitiTweet.org

Judd Legum @JuddLegum

1. Defund the police did exist as a slogan although most police budgets still went up. 2. Criminality exists but total crime was down in 2020. Violent crime was up 5%. 3. CRT exists. It is taught in law school. 4. Wokeism is a made up word. — PolitiTweet.org

Judd Legum @JuddLegum

If you want to know which corporations are keeping their promises and which are breaking their promises we've been keeping this list fully updated: https://t.co/yOUfjiVZ6q — PolitiTweet.org

Judd Legum @JuddLegum

I don't think this is accurate. Republican lobbyists are claiming the corporate boycotts will END SOON. But they have been saying that for months. Dozens of the nation's largest corporations have not resumed donating to GOP objectors. — PolitiTweet.org

Judd Legum @JuddLegum

You'll be shocked to learn that this 53-page document pushing "Critical Race Theory" does not once mention "Critical Race Theory" Judicial Watch objects to the training's "claims that there are 'unfortunate truths' about the history of Rhode Island and the United States.” — PolitiTweet.org

Judd Legum @JuddLegum

RT @NickKnudsenUS: Everyone should know about Metric Media. This company has propped up thousands of “local news” sites that produce propa… — PolitiTweet.org

Judd Legum @JuddLegum

RT @PeterSchorschFL: If you've been wondering why so many Fla. GOP'ers talk about #CRT, it's because the state is pretty much ground zero f… — PolitiTweet.org