Where are the record corporate profits coming from? Your thinning wallets

A big part of why the public isn’t crediting Biden

Friends,

I apologize for beginning this letter to you with a graph. But this is a very important one. It shows corporate profits after taxes, from 1946 through the third quarter of 2023 (the most recent data available).

Notice something?

Corporate profits are near a record high.

Inflation is dropping, but prices aren’t coming down because corporations ha…