Money

Robert Reich - Corporate profits hit an all-time high in 2023. Profit margins were above 15 percent — a level not seen since the 1950s. Prices remain high because corporations got hooked on price-gouging and won't give it up.

Common Dreams - The average U.S. taxpayer was forced to contribute more to militarized programs than to Medicare and Medicaid combined in 2023, according to a new analysis released Tuesday by the National Priorities Project. Published ahead of Tax Day, the analysis sheds light on the extent to which the federal income tax dollars of ordinary Americans are fueling "militarism and its support systems" such as the Pentagon, which currently accounts for roughly half of the federal government's total discretionary budget.

CNN - The number of publicly traded companies in the United States is shrinking. Jamie Dimon, one of the world’s most influential business leaders, is worried. At their peak in 1996, there were 7,300 publicly traded companies in the US. Today there are about 4,300. It’s not that America has 40% fewer companies than it did 30 years ago, it’s that companies are increasingly staying private, largely outside the scrutiny of the public eye.“The total should have grown dramatically, not shrunk,” wrote Dimon, CEO of JPMorgan Chase, in his annual shareholder letter on Monday.

Guardian -  US consumer borrowing rose by $14.1bn in February, driven by the largest increase in credit card balances in three months. Analysts believe that the soaring cost of consumer debt for US households could affect president Biden’s chances for re-election, as for the first time on record, interest payments on credit cards and car loans are as big a financial burden for Americans as their mortgage interest.Respondents to an online callout about personal levels of consumer borrowing in the US included adults of all ages and from areas across the country, with most saying they were now struggling to repay their debts.

The states with the highest minimum wages.

NBC News -  Inflation remained elevated once again in March, adding another round of price increases to Americans’ already-strained wallets.The Bureau of Labor Statistics reported 12-month prices accelerated from 3.2% in February to 3.5% in March, matching consensus forecasts among economists.