Corporate Profits Surge to Record-High of $2 Trillion, Pushing Inflation to 40-Year High • Children’s Health Defense

Federal data published Aug. 25 show that nonfinancial corporate profits in the U.S. surged to an all-time record of $2 trillion in the second quarter of 2022 as companies continued jacking up prices, pushing inflation to a 40-year high to the detriment of workers and consumers.

According to figures released by the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA), corporate profit margins over the past three months were the widest they’ve been since the 1950s as ongoing price hikes pad the bottom lines of large businesses — and eat into the paychecks of employees.

“But we can’t lose sight of the basic moral point that it is outrageous that corporations are seeing skyrocketing profits while purchasing power for so many American households is declining.”

Corporate Profits Surge to Record-High of $2 Trillion, Pushing Inflation to 40-Year High • Children’s Health Defense