Corporations Posting Record Profits As Consumers Pick Up the Tab
As major corporations have released their latest financials in recent weeks, a consistent theme has emerged: they are making massive profits despite historic levels of inflation.
Some have even talked about how rising inflation has been good for business:
“We saw our sales impacted positively by about 4% year-over-year from inflation.”
“Inflation is typically a positive driver of top-line revenue and margin gains.”
That, of course, is a result of jacking up prices and passing the added costs along to consumers to meet the demands of shareholders and hit earnings goals.
The Disconnect Between Wall Street and Struggling Families
While inflation isn’t hurting many big businesses’ bottom lines, it hurts working families, who are now paying more for basic necessities.
Here is a quick round-up of recent coverage that exposes pandemic profiteering and reinforces research from Accountable.US:
- A.P.: Even as inflation bites, corporate profits remain flush
- Yahoo! Finance: U.S. corporate profits stayed high through 2021 even as inflation took hold
- Marketwatch: U.S. corporate profits jump 25% in 2021 to record high as economy rebounds from pandemic
- Bloomberg: Profits Soar as U.S. Corporations Have Best Year Since 1950
- Axios: Corporate profits hit a new record high in 2021
More Accountable.US Research on Pandemic Profiteering and Corporate Greed
- Top Corporations Are Using Price Increases To Fund Billions In Shareholder Handouts
- Railroad Industry Raises Consumer Fees Amid High Profits
- Big Trucking Companies Profiteering Off of Supply Chain Crisis
- Big Oil Companies Net $75 Billion in Profit While Americans Struggle to Heat Homes, Fill Gas Tanks