capitalism
capitalism
Out of context: Reply #980
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U.S. companies post their biggest profit growth in decades by jacking up prices during the pandemic.
- U.S. companies posted record profits in 2021, even as Americans struggled with rising consumer prices amid the COVID-19 pandemic.
- Corporate pretax profits surged 25% year over year to $2.81 trillion, the Bureau of Economic Analysis said on Wednesday. That’s the largest annual increase since 1976, according to the Federal Reserve.
- When taxes are factored in, last year’s corporate profit increases were even more of an outlier. They soared 37% year over year, more than any other time since the Fed began tracking profits in 1948.