Source: Sean Rayford / Getty
At Friday’s US Senate debate between Cheri Beasley and Ted Budd, the Democratic candidate stated that inflation was the most pressing issue facing the nation, but that it was driven by corporations “price gouging” and by the cost of prescription drugs.
“Corporations are seeing 70-year record profits and using that as a cover for inflation and jacking up prices,” Beasley said. But this doesn’t make any sense, as profits don’t “cover for inflation.” If anything, record-high inflation would make profits look higher, due to the inflated value of the currency.
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