New poll shows it’s the greedflation, stupid

Even as post-pandemic inflation continues to fall, many Americans still feel the sting of high prices for basic goods, such as groceries. And Republicans are desperate to blame voter unease on President Joe Biden, particularly as consumer confidence improves and people feel increasingly bullish about their personal finances. 

But new polling on inflation suggests Democrats have an opening to reframe the issue as a discussion about corporate greed—an issue Democrats can turn to their advantage.

In a newly released survey, the progressive consortium Navigator Research found that 85% of voters now view corporate greed as a cause of inflation, with 59% calling it a "major" factor—a 15-percentage-point increase since January 2022. 

"The fact that so many Americans now say that corporate greed is a root cause of inflation is an important turning point," Maryann Cousens, polling and analytics associate for Navigator Research, told Daily Kos.

The feeling among Americans has become so pervasive that Dictionary.com just added the term "greedflation" to its entries, describing it as a rise in prices "caused by corporate executives or boards of directors, property owners, etc., solely to increase profits that are already healthy or excessive."

It's not that voter concerns about inflation are new; it's that voters’ sense that corporations are profiting at the expense of average Americans by spiking prices is at an all-time high in Navigator's polling. 

In fact, voters’ belief that corporate greed is a "major" driver of inflation has jumped 17 points in the past two years among both independents (from 45% to 62%) and Democrats (55% to 72%).

Cousens told Daily Kos that voters are also clamoring for Congress to take action on the issue. Navigator's 2022 midterm survey showed that Congress addressing inflation was "the top priority for midterm voters by a large margin," according to Cousens. 

And while Republicans sought to tag government spending as the biggest cause of inflation in the midterm, some Democrats successfully pointed to corporate greed as the main culprit for soaring prices.

One of them was Sen. Catherine Cortez Masto of Nevada, who narrowly won her hard-fought 2022 reelection bid in the swing state, where gas prices had spiked to $5.67 per gallon amid the campaign.

According to reporting from The Nevada Independent, Cortez Masto staffers said she frequently mentioned pocketbook issues, like the prices of prescription drugs, housing, and gasoline. 

“[She would] say, ‘yeah, I don't like the gas prices either,’ instead of just trying to sweep it under the rug,” Frank Hawk, president of the Southwest Regional Council of Carpenters, told the Independent's Gabby Birenbaum. “And then [she] really pointed out what's a little more true, [which] is that you have oil companies and pharmaceutical companies and Big Corporate America making record profits on a daily basis, and we as the middle class are struggling to fill our gas tanks. And that should make us angry. And I think her passion came through, along with her sincerity.”

In other words, there's precedent for Democratic lawmakers to successfully empathize with voters and highlight their work to ease the cost of living. For example, President Biden's Inflation Reduction Act, which cleared Congress on a party-line vote, has forced a $35 monthly cap on insulin for Medicare beneficiaries. And that price is quickly becoming available to a much wider swath of Americans as drug companies cap their own price or offer savings programs.  

Democrats have plenty to use to contrast themselves with Republicans. The Inflation Reduction Act also empowers Medicare to negotiate prescription drug prices, and Biden has put forward practical steps to raise taxes on billionaires. In the meantime, Donald Trump is vowing to repeal the Affordable Care Act, which, if successful, could strip health insurance from tens of millions of Americans. Trump is also floating the implementation of 10% tariffs on nearly all imports to the U.S, which would functionally raise taxes for U.S. consumers by more than $300 billion a year, according to the conservative Tax Foundation think tank.

Last month, Navigator released polling of likely general election voters in 61 battleground districts, showing that congressional Republicans still hold a 10-point trust advantage on the issue of "fighting inflation." However, once Navigator actually named the lawmakers, Democratic legislators in those districts edged out Republican lawmakers. Forty-five percent of voters said they trust their Democratic representative "a lot" or "some" to fight inflation, while 42% said the same of their GOP representative.   

Navigator's most recent poll found the most persuasive messages on price increases focus on corporate profits and CEO salaries being “at an all-time high, outpacing inflation” while corporations are “raising prices for families and small businesses.” It's a message the White House and Democrats should be pushing proactively, particularly given the fact that the economy is overall on much stronger footing than it was during the 2022 midterms. 

The country’s economic upswing, coupled with Americans increasing belief in greedflation, suggests voters are ripe for an argument that the high price of consumer goods is a product of corporate greed, not economic missteps. And Democrats have a plan for that.

Republicans demanded border security, worked on a compromise deal with Democrats, and now want to blow the whole thing up. Biden is promising to remind Americans every day that the Republican Party is at fault for the lack of solutions to the problems they claim are most important.

Campaign Action

GOP knocks itself out in Round 1, names Trump undisputed champ

When Donald Trump first entered the 2016 Republican presidential primary, he was more of a punchline than a candidate because no one imagined he could win.

Now, Trump is all anyone ever talks about because nearly everyone, save several of his Republican challengers, believes he's inevitable. While Florida Gov. Ron DeSantis briefly offered the GOP a glimmer of hope that the party could have its MAGA cake and eat it too, chastened Republicans are already talking like losers, according to a Politico Magazine piece by Jonathan Martin.

“We’re just going to have to go into the basement, ride out the tornado and come back up when it’s over to rebuild the neighborhood," said one Republican strategist, who declined to be named.

But the problem isn't that the twice-impeached, criminally indicted former president is unbeatable, it's that Republicans are too craven to go all in on beating him. Literally three people are officially in the race and many Republicans are all but throwing in the towel. It's like a disease—no one is willing to stick their neck out, particularly after they all watched erstwhile GOP rising stars like former Rep. Liz Cheney of Wyoming get drummed out of her leadership role and then her seat for possessing the rarest of Republican qualities: a spine.

The only Republican members who are willing to go on the record against Trump talk in code. Take GOP Rep. Mike Lawler from upstate New York, who flipped a Biden district last cycle and knows a Trump nomination would doom his reelection.

“Whoever the nominee is going to be needs to be forward-looking and they need to be focused on the American people, not the grievances of the past, and it certainly can’t be about the 2020 election,” Lawler said, trying to thread the needle of making an anti-Trump pitch that avoids summoning his wrath.

Trump is also shaping the Senate Republican field without lifting a finger, as potential candidates wait and wonder whether an alternative will emerge. If Trump looks inevitable, "it makes it harder to get in," one would-be GOP Senate candidate said because Trump's a killer in the suburbs.

For years, Washington journalists consistently reported that many, if not most, congressional Republicans secretly loathed Trump during his tenure. Despite these many colorful reports, Cheney remains the sole Republican who was willing to lambaste Trump, vote for his impeachment, and still run for reelection. Every other Republican Trump critic (of which there were few) either receded into the woodwork to salvage their political careers or retired from Congress.

Even the Republican National Committee (RNC), whose primary job is to help Republicans win elections, is cowed by Trump. The RNC is currently putting the finishing touches on an examination of why Republicans so severely underperformed in the midterms, and the report never once mentions Trump, nor does it name any his losing candidates.

Naturally, Trump is turning that cowardice against the RNC, threatening to not participate in the GOP debates. During a recent dinner at Mar-a-Lago, Trump verbally polled members of the Florida congressional delegation who have endorsed him about whether he should dignify the first debate with his presence.

It's all a ridiculous bluff—Trump would never let a bunch of challengers soak up the limelight of a nationally televised debate. He's simply using the threat to bully the RNC, which has already made peace with being exceedingly weak for yet another cycle.

One of the only Republicans willing to broadside Trump is former rival-turned ally-turned enemy Chris Christie, whose main calling card as a potential GOP 2024 candidate is simply the fact that he's the only one willing to take on Trump.

“I think that the majority of the party doesn’t want him,” Christie told Politico, pegging Trump as a surefire loser. But asked if Republicans had tired of losing yet, Christie responded, “I think we’re going to find out.”

At a speech in New Hampshire last week, the former New Jersey governor tested the presidential waters, asking attendees whether they were content to fold already and let Trump walk away with all the chips.  

“What you need to decide is: Are we just going to put this race on autopilot, ‘he’s ahead, let him win, let’s see what happens, how bad can it be?’”

Bad is, of course, a relative term. Some MAGA cultists clearly thought Jan. 6 was swell and still do—though they wouldn't be wasting their time at a Christie event. Trump is their guy.

But presumably, many Republican elders think Trump's death grip on the party has been bad for business—at least electorally speaking—even if they like his tax cuts for the rich and Supreme Court packing.

Christie's pitch is precisely geared toward that donor class and a mix of conservative swing voters, anti-Trumpers, and even Trumpers who don't want to keep losing elections in perpetuity.

Whether Christie can secure the funding he needs to launch a presidential campaign will be at least one test of Republican resolve to leave Trump in the rearview mirror. To date, that resolve has proven pathetically weak.

The past week seems to have packed in a month’s worth of news. Markos and Kerry tackle it all, from Joe Biden’s big announcement to Tucker Carlson’s early retirement from Fox News.