No.
Company earnings elevated by double digits prior to now three years, although their share of nationwide revenue has remained steady.
U.S. Sen. Tammy Baldwin, D-Wis., who’s working in opposition to Republican Eric Hovde within the Nov. 5, 2024, election, claimed that company earnings elevated 75% in three years.
Baldwin’s marketing campaign cited a information report indicating a 75% enhance over two years, from the second quarter of 2020 to Q2 of 2022.
Federal Reserve Financial institution, Harvard College and College of Wisconsin-Madison economists directed Wisconsin Watch to the federal Bureau of Financial Evaluation figures.
At present, annualized company earnings had been $4.1 trillion as of Q2 2024 — 19% over three years in the past (Q2 2021).
They had been 91% increased than Q2 2020, on the peak of the COVID-19 pandemic.
Company earnings had been 14.1% of nationwide revenue in 2020, peaked at 16.8% in 2021 and dropped to 16.1% in 2023.
Nationwide revenue consists of proprietors’ revenue and worker compensation.
This reality transient is conscious of conversations comparable to this one.
Sources
Metropolis Solid Madison: U.S. Sen. Tammy Baldwin Makes Her Case to Wisconsin Voters
Fox43.com: Verifying Casey’s company revenue claims in newest advert
Federal Reserve Financial institution of St. Louis: Nationwide revenue: Company earnings earlier than tax
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