"It noted that the four major meatpackers—Tyson Foods, JBS, Marfrig Global, and Seaboard Corp—had seen a gross profit increase of 120 percent."
Tyson's gross profit increased (2018 to 2022) from five billion to six billion. Six is 120% of five , but it's not an increase of 120%. The White House seems to be bad at math, in addition to bein…
"It noted that the four major meatpackers—Tyson Foods, JBS, Marfrig Global, and Seaboard Corp—had seen a gross profit increase of 120 percent."
Tyson's gross profit increased (2018 to 2022) from five billion to six billion. Six is 120% of five , but it's not an increase of 120%. The White House seems to be bad at math, in addition to being bad at economics. In 2023, Tyson's gross profit dropped to 2.5 billion.
Note that gross profits only consider cost of goods sold and don't include things like marketing and office payroll.
"It noted that the four major meatpackers—Tyson Foods, JBS, Marfrig Global, and Seaboard Corp—had seen a gross profit increase of 120 percent."
Tyson's gross profit increased (2018 to 2022) from five billion to six billion. Six is 120% of five , but it's not an increase of 120%. The White House seems to be bad at math, in addition to being bad at economics. In 2023, Tyson's gross profit dropped to 2.5 billion.
Note that gross profits only consider cost of goods sold and don't include things like marketing and office payroll.
The White House isn't bad at math. They are good at lies and distortion. Anything to vilify businesses.