New government data shows corporate profits rose to an all-time high at the end of 2023, providing new ammunition for Democrats who want to refocus voter anger about price increases toward Wall Street.
The broadest measure released Thursday by the Commerce Department found corporate profits rose $133.5 billion in the fourth quarter to an annualized rate of more than $3.4 trillion, for the first time ever.
President Joe Biden and his Democratic allies did not hesitate to link the new numbers to corporate “profiteering” as they tried to make that subject into a top-tier campaign issue.
Within hours of Thursday’s
