“Shrinking the size of a product in order to gouge consumers on the price per ounce is not innovation, it is exploitation,” the Democrats wrote in their letters. “Unfortunately, this price gouging is a widespread problem, with corporate profits driving over half of inflation.”
The lawmakers pointed to a recent report by the Institute for Taxation and Economic Policy that found that from 2018 to 2022, Coca-Cola made $13.4 billion but paid an average effective tax rate of 13.5 percent, PepsiCo made $22.4 billion but paid 15 percent and General Mills made $12 billion but paid 14.8 percent.
“No corporation should pay a lower tax rate than working Americans — especially when that same corporation turns around and gouges consumers on the other end through shrinkflation,” the lawmakers said.
It’s like year after the CEO is just like
“I’ve got an idea on how to make even more money! Let’s make it just a bit smaller”
“Another banger of an idea bob, this is why we give you millions of dollars”