The Rabid Capitalist

The Census Bureau’s annual reports reveal a 3.3% income decline in 2022, the largest since 2010, due to a higher cost of living and the expiration of pandemic programs. The median income was $74,580, down from $76,330 in 2021. This is the third consecutive annual decline since 2010, a trend reminiscent of previous recessions, including the GFC, the dot com era and the early 1990s.