Affordability Crisis: The Corporate Miscreants Driving the Affordability Crisis
During his recent State of the Union address, President Donald Trump took a few minutes to talk about the affordability crisis that’s been gripping the nation—which is to say, he threw some balderdash in the direction of Democrats. Blaming the high prices he once referred to as a “hoax” on the “dirty, rotten lies” of the opposition party, he then neatly pirouetted into his next point: declaring the crisis over. “Their policies created the high prices. Our policies are rapidly ending them,” he said. “We are doing really well. Those prices are plummeting downward.”
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.
A new report from the Institute for Policy Studies, or IPS, takes a deep dive into the battery of corporations they call the “Low Wage 20”: 20 firms that currently employ 6.7 million people across the United States. The names are familiar—Amazon, Starbucks, FedEx, Walmart, and Tyson Foods are habitual malefactors—but their sins are growing more mortifying by the day.
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.
https://newrepublic.com/post/207422/corporate-miscreants-driving-affordability-crisis