 The truth about inflation is getting covered up by countless myths spewed by corporations and their political lackeys. Here are the facts. Fact number one, inflation is not being driven by wage increases. Although wages have been rising, they've been rising more slowly than prices. Hourly wages grew by 5% in the past year. But prices rose 8.6%. This means, when you adjust for inflation, workers actually got a 3.5% pay cut over the past year. Fact number two, corporate profits are one of the main drivers of inflation. Corporations are raising prices above what's needed to cover their higher costs. These markups have soared. Corporations are getting away with this price gouging because they face little or no competition, and they're using the specter of inflation as a cover. Last year, corporations raked in their highest profits in 70 years. One recent study found that over half the increase in prices we've been experiencing can be attributed to fatter corporate profits. Fact number three, federal assistance to people during the pandemic did not overheat the economy. Most families who haven't had a real wage increase in years use the assistance to whether the crisis pay down debt or save for the future. The assistance was barely enough to keep working families afloat. Fact number four, inflation is not the result of President Biden's or Democrats' policies. Republicans want to blame them for rising prices. They're all in denial. The Democrats need to look in the mirror because the problem is the Democrats. Democrats have tried advancing bills to bring down prices and address corporate price gouging, yet Republicans and a handful of corporate Democrats refuse to pass them. So don't fall for the corporate myths about inflation. Higher prices are not being driven by wage increases. They were not driven by federal assistance to people during the pandemic, and Democrats are not to blame. Inflation is being driven in large part by record corporate profits. The best way to fight it is to remove corporate incentives to raise prices through a windfall profits tax and reduce monopoly power through tougher antitrust enforcement. Know the truth.