You know if Robert Reich is pushing the price gouging aka corporate greed argument that it's REALLY REALLY REALLY not true. Imagine knowing the real reason we're suffering crazy inflation is because the government has been printing and spending money like crazy and still going after grocery stores, like Kroger.
Only a real a-hole would do such a thing.
Case in point.
Kroger:
— Robert Reich (@RBReich) August 25, 2024
-Had gross profit margins above 20% over the last 5 years
-Is using “dynamic pricing“ to gouge us further
-Paid its CEO $15 million, 502x a typical Kroger employee
-Wants to acquire Albertsons so you have nowhere else to shop
Corporate greed at its absolute worst.
If you rolled your eyes back in your head reading this post from Reich, you are hardly alone. And man, socialists really get worked up over CEOs being successful. They also get really worked up when their city tries building affordable housing in their very rich, old CA neighborhood but THAT'S another story.
Enter Chef Andrew Gruel with the TKO:
This is dishonest and deceitful. He is using the term Gross Profit because it sounds like a lot to someone who doesn't understand a P&L. Gross Profit doesn't include rent, utilities, salaries, insurance, marketing, etc. Kroger's actual NET profit was around 2%. That means they… https://t.co/paWYuuulMY
— Chef Andrew Gruel (@ChefGruel) August 26, 2024
His post continues:
That means they make $.02 on every dollar they bring in. This is just more propaganda to trick people who don't understand business. As for the CEO pay, sure, it's probably excessive, but even if you removed the CEO altogether, their net profit would probably change .0000001%
Well of COURSE Reich and others on the Left are trying to trick dummies who don't understand business. Free market, corporations, and yes, business are the antithesis of the Democratic movement. They're about big government, small people.
If he had any knowledge of business accounting he wouldn’t be talking about 20% gross margins. What a tool
— Guy Nohra (@GuyNohra) August 26, 2024
No one has ever accused of him NOT being a tool.
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