In a real inflation, why would profits be down? If the company has any pricing power, they just increase the price. In fact, the definition of inflation is prices increases.
If it is just corporate profits the state and county sure piled on by increasing my property taxes 40% over the past 3 years. That's an extra $300 a month for me which is more than my car payment.
edit: changed country to county
Did the value of your property also increase over that time period?
So the assessor says. But what does that have to do with how much tax reveneue the local government needs to operate?
yeah, almost entirely due to inflation, it isn't like I improved my home.