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It's really more that they're trying to "extort" him into not raising premiums. The Democrats aren't trying to strongarm reduced prices; they're trying to stop price gouging.
On a longer timeline, they're "extorting" him into not killing a few million people. And he's throwing a temper tantrum and refusing to allow anybody to get in the way of this easily preventable mass death.
Even if a person is so heartless that they don't give a shit about that and only cares about money, that's gonna lead to fewer workers, fewer purchasers of goods and services, and less free time to enjoy purchases. So even the inhuman sludge monsters of capitalism should see that this is gonna be bad for business and be against this. There's literally zero benefit to doing this if you look beyond the current financial quarter unless your goal is to destroy the country and hurt people.
It's like shitting diarrhea all over the birthday cake so it can all be yours, but it's your own fucking birthday party. The art of the deal.
Unfortunately, capitalism demands that MY employees have no free time, to keep the quarterly numbers up, but everyone else's employees need to have free time, to spend money.
I mean the Trump admin and their backers are pretty clearly oligarchic. I would argue that oligarchy is one of the later states of capitalism, but ultimately they don't care about economic spending; they care about maintaining or further consolidating their monopolies and monopsonies. Amazon doesn't care that their profits will fall, they care that they are the only middleman between America and the broader world, whether that be through goods or the internet. It doesn't matter if their workers can't afford their stuff; the goal is to be the only source, where their workers have no choice but to afford it. "That's not how economies work!" OK nobody said these people were sane, just that this is what they think.