Profits also revised higher, and illustrates the GREEDflation of the 2020s.

In looking at the all the upward revisions in last week's GDP report, I noticed a significant part of the big increase in previously reported national income over the year was unreported corporate profits.

Sure enough, if you compare the "before and after" numbers on corporate profits in the last 2 years, you'll see that there was very little decline in profits at the end of 2022, unlike what was originally reported. And the increase in profits since the end of 2022 is more than twice what we originally knew them to be.

And that puts an interesting light on any report of "inflation", as the backup data in the GDP report shows more than ever that much of the post-COVID price increases have been nothing more than greedflation. For example, look at how gross profit margins have jumped since the end of 2019, after not changing much in the 7 years before then.

We also see that total pre-tax profits are up more than 50% in the last 4 1/2 years.

These numbers show that corporations have had plenty of pricing power in recent years, and it has cost Americans a lot of money as a result. The least these businesses can do is to have some of that profit-hoarding incentive taken away by returning corporations to the higher tax rates than they had before 2017's GOP Tax Scam. And it shows that Senator Tammy Baldwin was on the right track when she was introducing bills that would crack down on noncompetitive price-gouging and "shrinkflation" in the food industry.

It's not higher costs or "overspending" that has been a big culprit in the post-2019 increases in American prices. It's the greed, stupid. And only Democrats are going to do something to stop that greed.