tv All In With Chris Hayes MSNBC November 2, 2022 5:00pm-6:00pm PDT
the speech. that's why you'll hear him talk more about it. and he's always gonna be a defender of institutions and the rule of law and what our country has the potential to be. >> yes. he's biden all the time. he's the most optimistic person. we should all get biden this way. jen psaki, matthew, david, thank you all very much. before we go tonight, i want to apologize to our friends in orlando and everyone at the wonderful ace café. we were planning to do a readout road show tonight, but our plans changed, because the potus said he would talk at 7:00. you've got to take him. we appreciate you guys and thank you. if you're, not the show will go on. i'll be live tomorrow night from the hall on the yard in orlando. please come on out and see us. my guests will encourage congresswoman -- whose challenging senator marco rubio, former governor charlie crist, who's trying to unseat ron desantis, and that's it. that's tonight's reidout. all in with chris hayes starts now.
>> tonight, on all in -- >> mick notice -- mistake. democracies on the ballot for all of us. this union and chaos are not inevitable. >> the president makes the case to preserve democracy as the other political party openly advocates for ending it. >> we'll never lose another election in wisconsin after him elected governor. >> the newly-leaked eastman emails, and -- justice clarence thomas to overturn the will of the voters. plus, carole's new reports and the violent attack targeting the speaker of the hat. kayleigh porter on why grocery stores -- inflated prices are making them referenced -- record profits. >> over half of the increase in prices, people are paying, are coming from increases and corporate profits. >> yes. >> all in starts right now.
>> good evening from new york. i'm chris hayes. and the last hour, president biden gave a primetime address on the threats to american democracy. he -- the sight of the insurrection. this, let's than a week out from the midterm elections. it's not all surprising he decided to give the speech, considering the headlines we're seeing all across the country. with candidates endangering or outright rejecting fear -- free and fair elections. and arizona, and a case we've been color fearing closely, the case of poll stalkers. these are people who've been staking out ballot drop boxes under the guise of preventing widespread voter fraud, which of course does not exist, based on prosperous conspiracy theories but the sight of that fraud or the ballot drop boxes, and you see them loitering around those boxes, armed, wearing tactical gear -- might make some voters feel a little intimidated when you roll up to drop off your vote and there's someone there with
a gun in a vast. last night, a trump appointed judge issued a restraining order against the group trying to intimidate voters. it prohibits members of the group or their associates from carrying weapons or wearing body armor near drop boxes, and from recording people dropping off their votes, or yelling at or following them. that seems sensible. but, the anti-democratic notions motivating those poll stalkers are prevalent throughout the country. take this guy, michael pariah. he's a republican nominee for attorney general in maryland. like many republican candidates, he's cast doubts and results on the 2020 election, saying he doesn't know if biden what. also -- except the results of his own election, saying they would need to, quote, appear to be lawful in legal. over the weekend, the local reporter shared a video of one of his top campaign aides appearing to tell republican spares at a rally to intentionally form long lines at the polls close to closing
time on election day. >> -- if everyone could stand in long lines at 6:00, that would actually help us. >> it appears, and again, i can't quite read the minds of these folks, so i don't know what's going on, but it certainly appears that the campaign of the about blinken candidate in maryland is encouraging people to artificially extend the time -- right as they're getting out of -- step forward. they don't want the results of the elections the matter at all. wisconsin's, if anything, one of the most evenly divided political states in the union. 50/50 split between republicans and democrats. biden won the state in 2020, trump won in 2016, but republicans have rewritten the voting maps so heavily in their favor, they are likely to achieve a -- state legislature even with a 50/50 vote. and they know what their day. in leaked audio for an event earlier this week, the states
trump backed -- tim michels, promised republican rule permanently in the state if he wins next week. >> it's all about the economy. it's all about lgbtq, crt, blm. i just want to go to work, -- go to church on sunday, go to my kids ball game, and the democratic party doesn't care about any of that. republicans will never lose another election and wisconsin after i'm elected governor. >> they never lose another election? and wisconsin? that sounds like one party rule. that's not just wisconsin either. just listen but the guy running for secretary of state in nevada, talking about his coalition of election denying candidates across multiple states. >> if we get elected, and they know exactly what's in for them. their power. they're gonna be out of power. and that's exactly what they know, and that's why they are so afraid of what we're doing. that's why they're dumping in
all the money that they have, not only -- finchem, arizona, christina, michigan -- everywhere we have a candidate with our coalition, they're just dumping a massive amount of money. because they know that they can't win if or successful. >> the games over. >> the games over. >> so that's what one of the two major parties in this country wants. at least a dominant faction in the party. not everyone, but the dominant faction. they're seeking, and again, this comes from trump. trump didn't want free and fair elections in this country. in fact, he quite obviously said that was not what he was seeking. and the end, a free and fair election, essentially one party rule, like michaels was promising, as what the dominant maga faction of one of the two coalitions in this country once. >> that was a theme echoed tonight by president biden during his primetime address in the last hour. >> american democracy is under attack because the defeated former president of the united
states refuses to accept the results of the 2020 election. he refuses to accept the will of the people. he refuses to accept the fact that he lost. he's abused his power and put the loyalty to himself before loyalty to the constitution. and he's making a big lie and article of faith in the maga republican party. as i stand here today, there are candidates running for every level of office in america. for governor, congress, attorney general, secretary of state, we won't commit. they won't commit to accepting the results of an election they're running in. this is a path to chaos in america. >> he's not wrong. it is a path to chaos. and whether we take that path to chaos, wherever we continue to march down, as one of the major choices, if not the major choice voters come to you on
tuesday. joining me for his perspective on president biden's speech, nbc news presidential historian michael -- michael, we spoke the last time the president gave an address about democracy, and the context for it, and how unprecedented it is. this speech seemed, in some senses, more specific about the developments that we're seeing everywhere from the arizona poll stalkers to the secretaries of state who refuse to say that they accept the elections. what do you view as the key takeaway of the speech tonight? >> well, he was absolutely candid, he was absolutely right. because as you know, chris, six nights from now, we could all be discussing violence all over this country. there's signs that may happen, may god forbid, that losers will be declared winners by a fraudulent election officers, or a secretary of state candidates, or governors, or state legislatures. we could be six days away from
losing our rule of law, and losing a situation where we have elections that we all can rely on. you know, those are the foundation stones of democracy. so, if biden had gone on the air tonight and said, biggest thing we have to worry about is marginal tax, or something like that, well, it is important, but what significant presidents do, i think you'll agree, we both write history, you and i. 1860, lincoln didn't say biggest issue was -- colleges, although he felt strongly. he said the country can't survive half slave and half free. 1940, franklin roosevelt didn't say, you know, the biggest thing i'm worried about is -- policy. foreign policy was important to him, but it what he did say was, never before, since jamestown and plymouth rock has america been in such danger. joe biden is saying the same thing tonight, and a historian 50 years from now, if
historians are allowed to write in this country, and if they're still free publishing houses and a free press, which i'm not certain of, but if that is true, a historian will say what was next date tonight and this week was the fact whether we will be a mobocracy in the future, whether our children will be arrested and conceivably killed -- were on the edge of a brutal authoritarian system, and it could be a week away. >> you really think it's a week away, possibly? >> possibly. because, you know, one of the safeguards that protect our democracy -- being able to have elections where you vote someone out to misbehaves. instead, what we see -- what you are, for instance, rightly mentioning about the candidate for governor in wisconsin, saying, elected me governor, you'll never -- republicans will always be elected to henceforth and our state. well, hitler and mussolini didn't even bother to say that. yet, 1934, mussolini had an
election, and how did it go? well, lucia's party got 99% of the vote. 1936, hitler's party entered an election, which he called free and fair, which was a corrupt fraud. it was party one with 98% of the. that's what happens in autocracies. and it can happen very fast. >> yeah. if you look to our own history, of course, the jim crow south was a one party state for decades. within the structure of what we call american democracy, though, it was essentially an authoritarian one. -- state within the state. i thought of another moment in history tonight which was an 1871, when the northern republican, radical republican from massachusetts get a speech in the house, and was accused by his democratic opponents of, quote, waving the bloody shirt. he didn't actually do that, but he talked about planned violence directed at republican officials and free blacks in the south, and waving the bloody shirt came to mean, oh,
you're going on and on about this democracy stuff again. i thought about that, because it ended up being an effective pitch by democrats who would go on to find real success and subsequent men terms. and i think you see some of that both from the mainstream press and from the republican party, about this democracy concern. like, you're waving the bloody shirt, are we talking about this again? i wonder what you think the sort of resonance historically of it is. >> well, it has the advantage of being true. i hope it doesn't happen, but there's at least a significant chance that this country could be consumed by violence all over the next week. after this election. i hope it doesn't happen. and the difference between 1871 and now is, groups that wanted to generate violent -- violence against black people and others, they didn't have social media. so they couldn't connect with each other, and aggravate each other, and conspire, and plan. now, you've got social media and all these groups all over the united states can get in
touch with each other instantly, and plan something nationally that could be very dangerous and would be the opposite of what you and i think of as a peaceful democracy. again, i hope this never happens. >> all right. michael, thank you very much. sobering. >> thanks, chris. >> i'm joined by senator amy -- democrat from minnesota. i don't want to sound naive. i think my modal prediction for things as a bit brighter than that i hope. that's a worst-case scenario. what do you think about the presidents message, and what are your hopes for the next six days and for election night? >> i think it's so important the president did this, chris. because we have a group out there, the maga republicans, who are basically throwing truth out the window. they're shattering the rule of law, and they are basically saying, we're not gonna abide by these elections. and they are making fun of, or
basically dismissing, political violence. and you heard with the president said today about it. he said, voices condoning political violence are a distinct minority in america, but they're loud, and they're determined. and that is what the concern is. and having campaigned in the last few weeks in states like, for our candidates and nevada, kansas, and pennsylvania, and ohio, and of course in minnesota, i was up in duluth today with our governor -- people are focused on this. it's starting to show up in the polling. we know in the last election, with senator warnock getting elected in georgia, it was a big deal. because donald trump was pushing the theory that the election back then, and continues to loom over this election -- their election was invalid. and we can't have that happen in this country. this is why this is so important, in addition to what you're gonna be hearing from
katy today about which party has been back when it comes to costs, and protecting a woman's right to make her own health care decisions. those freedoms are all on the ballot. >> one of the things the president did that was interesting, and i'd love to get your fought senate, was being very specific about election night. it seems to me, the most acute worry is precisely running the exact same playbook the republicans ran in 2020 about counting mail-in ballots, it taking a while, there's an expectation that's been fed to people that -- it would be republican blowout, and everything short of that is some kind of foul play. how important is it to get a sort of national consensus to the extent one is possible about being patient on election night, and about making sure all votes are passed? >> very much so, chris. we did this last time, and i think it helped. each state has some different rules in place. some don't start counting ballots until even early
ballots -- which you know, millions have been cast around this country until the day of the election. so, you're gonna have different results come out at different times. i think people learned that during the presidential, but you will have people, as you know, that the former president trump -- steve bannon admitted it on tape, that he was gonna declare he won no matter what. a bunch of these races, including senate races, as you know, are incredibly close right now, and in a number of them, democrats are gaining. we're making our case, and so we've got to make sure that we stand up for our democracy. >> yeah. it seems to me again, that there's an asymmetry that has been baked into this. which is, we all saw what happened and a relatively close, not raise a thing where engine -- in 2021, the democratic candidates -- to concede his loss with the ex
president urging him not to. it does seem, that to the extent that politicians enforce these norms, are you confident that you can expect from republicans on the other side, and fellow democrats, that they will abide by that basic norms? >> i'm confident democrats will do that, and there are republicans that have said they will abide, but as the president pointed out in the speech today, there are 300 people on the ballot who are election the nice. 50% of americans are gonna be looking at election deniers on the ballot. so that's why it's so important that americans, and i loved the pleaded not just democrats, but independents, republicans who care about our democracy, cannot vote these people in, nor should they vote in the people who are calling them. >> all right, senator amy klobuchar of minnesota, thank you for your time tonight. >> it's great to be, and thanks, chris. >> coming up, the growing body of evidence that trumpists and
>> the threats turn to microsoft the president spoke about tonight that were once again facing during the mid term into elections are coming from a variety of sources. there are two main categories. on one side, there's the suits. lawyers, government officials working within the system to undermine our free and fair elections. -- january 6th, this included
people like jeffrey clark, the department of justice, who tried to help trump spread lies about election fraud -- as well as trump's lawyer, john eastman, author of the infamous coup memo. on the other side, the vigilantes. the people who shop with weapons and enact violence. the proud boys, of keepers, violent gangs that organized the actual storming of the capital on january 6th. these two sides work in tandem to execute the trump coup. they ultimately failed, and today, we have big developments in the investigations and both fronts. new evidence presented in court today. members of the oath keepers revealed that the founder, almost do it rose the fared, tried to get donald trump to enact the -- in a message intended for the ex president, rhodes wrote, quote, if you don't, then biden kamala will tone that power when you, your family, and all of us. you and your family will be in
prison and killed. you and your children will die in prison. that evidence -- very same day. we got to see several emails that john eastman was recently ordered to turn over to the january 6th committee. last month, the federal judge ruled those emails contained evidence of possible criminal activity, about therefore not covered by eastman's claims of attorney client privilege. the emails show that eastman and some of his fellow coup plotters were trying to tee up an emergency appeal of the election results in georgia that would go before a supreme court justice -- clarence thomas, another -- another lawyer, -- pursuing justice thomas might be, quote, our only chance to get a favorable judicial opinion by january 6th, which might hold up the georgia recount in congress. of course, this was not a random choice. lawyers believed with good reason that justice thomas may be sympathetic to their cause. eastman is a former -- he was in contact with the justice's wife. ginni thomas, during this
period. -- associate white house council of president obama is now the finding an executive director of present -- nonpartisan organization dedicated to preventing the decline of our democracy. he joins me now. and, i want to start on this revelation about this plot to tee this up for justice thomas. there's a system whereby these emergency appeals for a given circuit of the federal court, goes up to an individual justice who can issue, essentially, a temporary stay. we've seen this happen a few times with various matters. in this case, georgia, it would be justice thomas. there's is geographic logic here. but of course, it says something remarkable about -- eastman's judgment of justice thomas says possible complicity and character that they were the ones trying to tee this up for justice thomas. >> yeah. i think we already know from what those plotters are suggesting, where justice thomas may stand on this. but i also want to suggest,
chris, a third possible leg of the stool. you identified two. the vigilantes in the suits. and the suits, the bureaucrats, and the lawyers. but there was a third really crucial pieces of this plot in 2020. that was the elected officials. think about what trump did in 2020. first, he called on state legislators. he tried to -- leaders of the republican congress in michigan, put the screws to them in the oval office. secretaries of state tried to twist brad raffensperger's arm. governors, leaning on governors not to certify joe biden's win. ultimately, members of congress who tried to pressure -- including with the violent mob, that's where the vigilantes come in -- to overthrow the results. but all those elected officials declined to go along with it. so what did trump set out to do from pretty much right after the election? replace all those officials with people who would be more loyal to him. he intervened in state bred legislative races around the country. he's handpicked candidates like
kari lake and mark finchem in arizona, like mehmet oz, like j.d. vance in ohio. he handpicked them because he expects them to be loyal to him the next time. so while trump is not personally named on the ballot next week, he's very much on the ballot in that all these handpicked loyalists are installed -- than the plot we're talking about here, which failed in 2020, we'll have a much more successful chance of overturning our democracy next time. >> in fact, to your point, he's kind of what you might call a single issue voters on this. and we saw this in this tape that came out. we played it on the program. where he -- blake masters, he's the handpicked trump candidate for senate -- he's definitely got a shot at winning the race. tight race. he calls and basically says, yeah, there's one thing you've got to keep hammering on. the election was rigged. that's the most important -- that's all he cares about. it's all by his own -- what he's focused on.
and when we come to election night, one of the things that are sort of looking for is, who concedes and how? and what does trump and his allies tried to do? i'm wondering what you're looking for as we head -- >> while, i also would note that stewart rhodes, elmer stewart rhodes, and the text message you played, he gets that as well. what was his appeal to trump? you. you and your family. it wasn't -- our country is in danger. he understood exactly how to speak to donald trump. and the way that trump has picked these candidates, lake in arizona, and -- he knows they will be loyal to him. to donald trump. over loyalty to the state, over loyalty to their brothers. so in terms of what i'm looking for next week, here's where i'm gonna bring a dose of optimism to this. i think i also have deep faith in the american people. one thing that joe biden was alluding to in his speech earlier was, even with all of these groups of americans who
are attacking troops, who were attacking -- who were sort of emboldened -- biden still has faith that we can come together and common purpose. he called for unity. he called for this coalition of democrats, of independents, he was very clear. he said the module republicans are minority of the party. there's lots of republicans who believe in our democracy, but what he was calling for, i, think is a lesson we can take from other countries. this happened in eastern europe, in the czech republic, or what they had to throw an autocrat out of office. they had to build a coalition of people who had to put aside their policy differences, put aside the normal political tribes but they adhered to, and come together but things that are more fundamental, which is our freedom, our system of government. right, now unfortunately, the blunt truth is, only the democratic party is fully committed to those things. and so, we have to come together and support those who believe in the fundamentals of democracy. and the hopes that sometime in the future, what we really need is a healthier republican party that can provide --
policies, but not in authoritarian alternatives to american constitutional democracy. i think we can do that next week. but i want to turn back to something that michael said earlier, which is the only way it can happen here is if we convince ourselves that it can't. >> ian, as always, great to talk to you. thank you very much. >> thanks, chris. >> still ahead, new reporting. the capitol police had live video of the violence targeting nancy pelosi, but no one was watching? washington post helped to break that story. our reporter joins me now. hi! need new glasses? get more from your benefits at visionworks! how can you see me squinting? i can't! i'm just telling everyone! hey! use your vision benefits before they expire. visionworks. see the difference.
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we learned about the violent assault targeting the third most powerful person in government, speaker of the house, nancy pelosi. we're learning more about the attacker described by his former boss -- maga pizzagate stolen election, all of it. all the way down the line. we're learning more about how someone who wanted to hurt the speaker of the house and -- her 82-year-old husband unconscious with a hammer, fracturing his skull, was able to break into her house. police only arriving after her husband, in the mid east of this situation, managed to call 9-1-1. we know the speaker traveled with a capitol police detail. did paul pelosi have any security? now, turns out there are capital police cameras at -- san francisco residents.
the break-in was captured, but no one was watching. according to the washington post, quote, for months after the attack on the january 6th -- san francisco police cruiser sat outside pelosi's home day and night. but hours after pelosi left last week, and much of the security left with her, officers in washington stopped continuing monitoring video feeds outside her house. joining me now is carole -- investigative journalist for the washington post. she first broke that story. carol, i have to say, your story brought me up short. because i think the first reaction many people had to the news when it broke on friday morning was, there is no security at the speaker's house? how could someone get inside? what's the answer that question based on your reporting? >> well, i'm glad you're focusing lens on this, chris. and have to be a bit careful, because we're still reporting the story. there's a lot more to unpack. i hope i'll be able to share more of it with you and with your audience. but so far, what we have
learned, which is shocking, is that there was a live video feed in the back and the side of pelosi's home that was basically one of hundreds. let's put this in context, hundreds of camera feeds that we're going to the capitol police command center. what happened on that night, or midnight shift, on friday, between friday and saturday, was that at the command post of the capitol police, the only realized that her home had been invaded as a result of someone cycling through an officer cycling through the video feeds that they don't consider the most important at that moment. and noticing that there are strobe lights from the san francisco police who are on the scene. so essentially, the people responsible for protecting nancy pelosi, not her husband, but nancy pelosi, didn't know her home had been invaded and her husband had been assaulted with a hammer, until after san
francisco police were already on scene. the officer who cycling through this information in the command center then scrolls back at all of the videos feeds for that evening, and sees this man breaking down the door, casing her house, going in the back door with a hammer, eventually breaking the glass well enough that he can step inside. probably about a half hour before mr. pelosi is found by police. >> wow. just to be clear here, and this is not the most important part of the story, but since people like the ex president of the united states and various mouthpieces of his continued to invoke the sort of fabricated in some areas see theories, this video of the man breaking the window to get in, and breaking in entering. >> i couldn't be more delighted that you emphasize that exact point. this part where former
president trump says that it looks like it was a break at, not a break-in -- there's a video that shows every moment of mr. depape's entry into this building with a hammer. i'll be on specific for this moment and just say that the our close up shop sense of what's happening in realtime. >> this paragraph from your piece jumped out at me again. we all know the world we live in, and the speaker of the house, as 435 members of congress. -- security detail doesn't exist for them, knowing necessarily would be practical. but the speaker is the speaker. and you write this -- while other members of congress may face episodic threats, pelosi is the subject of the most violent death threats against any lawmaker, and the volume is both high and continuous. -- scale of the threats to be
demonized by republicans, being -- again, it's not something where you can say, boy, you just couldn't possibly have seen this coming. >> so true. and you know, on the one hand, as just an objective reporter, i see a tenfold increase in the data that the capitol police has prevented -- a tenfold increase in the threats. then, you've got nancy pelosi, who is more threatened than donald trump. more threatened, actually, than almost every other political leader in the time i've been covering washington, save for president obama. so she's a pretty exceptional character. it's not as of the capitol police are not where they need to protect her home and her husband. they don't have a detail on him, a physical detail on him, but they recognize that after a terrible vandalism incident at the house, they've gotta protect this house. and that's when a lot of
security has ramped up there. you may remember the days before the january six insurrection, or you may not remember because that riot was so all consuming -- but five days before january 6th, nancy pelosi's home, as was mitch mcconnell's, or vandalized. with the use of a pigs head and paid blood. that's what led to a san francisco police car being basically stationed there at all times, outside the house, looking out for the speaker's husband at the same time. >> carol, thanks so much for your time. i appreciate it. >> of course. >> still to come, it seems too awful to be true, but it is. the sordid tale of pennsylvania republican senate nominee mehmet oz and animal cruelty allegations, up next. allegations, up next line. u do it all. so u bring ubrelvy. it can quickly stop migraine in its tracks within 2 hours... without worrying if it's too late or where you are.
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we do not have a republican senator north of north carolina on the atlantic coast. if we i don't hold the seat. >> of course, pennsylvania is not on the atlantic coast, but to be dr. mehmet oz, the trump, candidate in pennsylvania must be thinking of his home state of new jersey, which has miles and miles of sparkling shoreline enjoyed by the grand glamorous and powerful alike for the years. but oz is running in pennsylvania, and seems to be forgetting that. he keeps making these kinds of embarrassing errors, like the famous crudités episode at the
grocery store he forgot the name of, highlighting what a truly terrible candidate he is. don't take it from me, 53% of pennsylvania voters have an unfavorable view, not all surprising given that he just keeps popping up. >> the headline, doctor oz is scientific experiments killed over $300, entire litter of puppies. >> okay. when i heard it for the first time, i thought that was literally too crazy to be true. how you a caricature an evil person like monty burns from the senate simpson's running for the senate. but it's a real story. >> the headline, doctor oz's scientific experiments killed over 300 dogs, entire litter of puppies. in 2004, columbia university reached a settlement with the usda after investigation found the inhumane treatment of dogs during a cardiovascular medical studies, while doctor oz was the director of the cardiovascular institute.
>> i should tell you, emerson -- but the philadelphia inquiry has verified major parts of the story, including that wallace was a principal investigator at columbia university, the school had to pay 2000 dollar penalty for violating the animal welfare act, including its methods for youth euthanizing talks. now the washington post reports that dr. oz recently reached out to his former boss of columbia to ask him to say publicly that oz was not responsible for putting down all of those puppies. his old boss reportedly refused, because it felt like a political favor. look, control of the senate comes down to minaj, republicans will do anything they can to help him across the line, including suing to keep to state from counting mail-in ballots that lack a written date. keep in mind, they have postmarks. republicans just won that fight at the pennsylvania supreme court over undated ballots that could prove critical in a close election. will that even be enough to
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increased prices that people are paying is coming from increases in corporate profits? >> yes. the unit price index is reflected in corporate profits as opposed to other costs. >> with the midterm elections a week away, inflation remains the top issue in almost every server that you can find. 36% saying that it was their number one concern, up nine points from the same poll in august. that's interesting, because it hasn't gotten worse in that time. as democratic congresswoman katie porter demonstrated there, the high prices at gas stations and stores are high because corporations are choosing to keep them high. we saw this last week with the announcement of record profits by the shell oil cooperation. this week's new york times food prices soar, and so do companies profits. some food companies and restaurants are continuing to raise profits even if their own inflation driven costs have been covered. the most prominent democratic official making this argument, katie porter of california.
she sits on the oversight and reform committee, the charts and white boards she uses to callan challenge corporate and financial leaders. katie porter joins me now. congresswoman, i'm going to confess something to you which is that as inflation ramped up, i saw democratic policymakers making an argument that it was being driven by corporate greed. i was a little unconvinced, because corporations are always greedy. they always want to maximize profit, they want to maximize profit for their shareholders. it seemed to me like that is an insufficient explanation of why prices were going up. i have been somewhat persuaded by your case here, and so make your case as to why corporate profits are the biggest part of what is driving inflation. >> this inflationary period is different, and that's what the steadiest shows. that's what the research shows that i was talking about on the hearing the you just played. 54 cents of every extra dollar that we are being asked to pay is going to corporate profits. here's why.
the market power of these big corporations has grown. as small businesses, medium sized businesses has been gobbled up by large businesses, squeezed out by the pandemic, unable to deal with that supply chain issues. the largest corporations, bankrolled by wall street have gotten more and more powerful. what we find is that the biggest price gouging goes on in the very industries where there are the biggest players. things like big oil, where you only have a handful of companies that dominate the market and controlled the supply. >> and in fact, as far as i could tell, and i've seen some of this on the business networks and business press. when speaking to investors, some of the ceos of these entities are quite frank about this. they use the term right now pricing power to describe why they are able to now in this environment extract more profits. >> absolutely. let's be clear about what pricing power feels like to the mom like me in the grocery store. it feels like getting ripped off by wall street.
that's exactly what is happening. the american people understand this. they understand that they're being asked to pay more for less product. it's unfair, and it's wrong. it's -- rather than being centered on workers. republicans have made very clear that if they win back this congress, the very first thing they're going to do is give wall street and even bigger handout in the form of corporate tax cuts. that's the right direction. what we need to be doing is focusing on increasing competition, which helps consumers pay fair prices. >> i want to go back to the categories, because it makes sense for folks intuitively to break it down. if you go in and the box of cereal costs $2 more than you are used to paying, the reason could be, look, we have to pay our workers more. so our labor costs have gone up. or you could be the ingredients in this box of cereal, as well as the shipping costs have gone up. we have to pass that on to you,
the consumer. people both understand and by those two. the third category is that we can just get away with charging $2 extra, and it's good for our shareholders. the contention here is that it is the latter category. >> early in the pandemic, consumers understood there had been disruption to things like supply chains. there had been disruption to workers, and it is challenging to get labor. they will continue to charge consumers and take advantage of them until we elect policy makers who stand up to corporate power. that's exactly what i'm willing to do. i don't take corporate money, i don't take lobbyists, i don't work for wall street. i work for the families that i represent. that means that i want an economy that works for them, and to do that we have to have policy makers that are on the right side of this issue. >> this is where the rubber hits the road and why this issue is so difficult. i did a segment last week about
how republicans don't actually have a plan to deal with inflation in any plausible sense. who can do anything about it? that's the problem, right? you have the fed hiking rates to try to undo softer demand and get more people laid off, and make sure that people have less money so they can spend it so that prices come down. that seems less than ideal. you have the democratic party running as incumbents, as you are in your race, with this 8% in unemployment hanging over their heads. what do you say to people about, here's what we can do? >> if the federal reserve is using the tool that it has, which is monetary policy, and what congress needs to do is use the tools that we have. what the biden administration needs to do is use the tools it has, and to a large degree we started that progress. doing things like allowing medicare to negotiate prescription drugs, for the big pharma wrapping it off taxpayers and patience. it means standing up to big oil, and saying no, we're not going to lace our public land to drill or mine.
you have to pay a fair rate of return on that. one of the things that the biden administration has done that is so important is really pushing to make our economy more competitive. that means giving small businesses a quick chance to compete, and to grow. you really cannot have strong capitalism without robust competition what they want to do is squash the little guy said that they have unfettered, unchecked market power to gouge consumers. republicans have made clear that that is who the will stand with if they're elected. democrats on the other hand are going to fight like hell to protect consumers and workers, and that's exactly what i have been doing, and intend to continue to do. >> a percent inflation rate, not unemployment, congresswoman katie porter. thank you so much for your time. >> thank you. >> that is all in on this wednesday night, alex wagner tonight starts right now. good evening, alex. wagner >> good evening, chris. the part of all of this myth has to do with covid greatest so undcu