So...how's Trumpery doing? The latest data (guess who are making out like bandits...it ain't you)

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So...how's Trumpery doing? The latest data (guess who are making out like bandits...it ain't you)

Post by T on Fri Jul 20, 2018 5:48 pm

Corporate Profits

Corporate profits rose to a record high of $1.78 trillion in 2017 — and are running even higher so far this year.

Those after-tax profits were 5.5 percent higher than the full-year figure for 2016, as estimated by the Bureau of Economic Analysis, and they topped the previous record of $1.74 trillion set in 2014.

The BEA’s most recent estimate, covering the first three months of 2018, shows after-tax profits running at an annual rate of $1.86 trillion — an increase of 10.1 percent over the full-year 2016 figure.

After-tax profits are getting a boost this year from the tax cut Trump signed into law Dec. 22, dropping the top federal tax rate on corporate income to 21 percent, from 35 percent.
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Wages and Inflation

The upward trend in real wages continued under Trumpery, even as prices rose a bit faster.

CPI — The Consumer Price Index rose 2.7 percent during Trumpery’s first 17 months (through May of this year), continuing a long period of historically low inflation.

That’s an average yearly rate of 1.9 percent. The CPI rose an average of 1.8 percent each year of the Obama presidency (measured as the 12-month change ending each January), and an average of 2.4 percent during each of George W. Bush’s years.

Wages — Wage increases continued to outpace inflation, and so the purchasing power of weekly paychecks rose. The average weekly earnings of all private-sector workers, in “real” (inflation-adjusted) terms, rose 1.2 percent during Trumpery’s first 17 months, after going up 4.0 percent during Obama’s eight years.

Those figures are for all private-sector workers, including managers and supervisors.

For rank-and-file production and nonsupervisory workers (who make up 82 percent of all private-sector workers) real weekly earnings have gone up 1.5 percent so far under Trumpery, after rising 3.7 percent during Obama’s eight years.

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Re: So...how's Trumpery doing? The latest data (guess who are making out like bandits...it ain't you)

Post by T on Fri Aug 03, 2018 10:17 am


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Re: So...how's Trumpery doing? The latest data (guess who are making out like bandits...it ain't you)

Post by T on Fri Aug 03, 2018 10:17 am


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Re: So...how's Trumpery doing? The latest data (guess who are making out like bandits...it ain't you)

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