Jared Bernstein on ABC stated corporate profits (after taxes) are the highest since 1947!
That is stunning & I wonder HOW they can oppose Obama? Are they stupid?
Obama is better for Corporations than for Americans... clo
Corporate Profits
Profits from current production (corporate profits with inventory valuation and capital
consumption adjustments) increased $57.3 billion in the second quarter, compared with an increase of
$19.0 billion in the first quarter. Current-production cash flow (net cash flow with inventory valuation
adjustment) -- the internal funds available to corporations for investment -- increased $83.8 billion in the
second quarter, compared with an increase of $21.1 billion in the first.
Taxes on corporate income decreased $3.0 billion in the second quarter, in contrast to an
increase of $17.6 billion in the first.
Profits after tax with inventory valuation and capital consumption
adjustments increased $60.3 billion in the second quarter,
compared with an increase of $1.4 billion in
the first. Dividends increased $13.6 billion compared with an increase of $19.0 billion; current-
production undistributed profits increased $46.7 billion, in contrast to a decrease of $17.6 billion.
Domestic profits of financial corporations decreased $54.2 billion in the second quarter,
compared with a decrease of $38.7 billion in the first.
Domestic profits of nonfinancial corporations
increased $84.4 billion in the second quarter,
compared with an increase of $19.7 billion in the first. In
the second quarter, real gross value added of nonfinancial corporations increased, and profits per unit of
real value added increased. The increase in unit profits reflected an increase in unit prices and decreases
in both the unit labor and nonlabor costs corporations incurred.
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
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