Commentary
White House press secretary Karine Jean-Pierre recently reiterated a point the Biden White House has been making for the past year: that inflation remains high not because of the Biden $6 trillion spending spree but because “high profit margins” captured during the COVID-19 pandemic drive up consumer prices.
We then were told that the White House’s grand strategy to bring down sticker prices further at the store is to lower business profit margins for everything from drugs and computers to food and gasoline.
How low should those evil profits go? To zero?
Wait, since when are profits evil? The ability of a company to turn a profit is the very engine of growth—also of innovation, job creation, and entrepreneurship….