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The Census Bureau released its 2021 income report Tuesday, and the political spin is that unprecedented pandemic transfer payments lifted millions out of poverty. It’s more accurate to say that most Americans are worse off than before the pandemic owing in part to . . . unprecedented transfer payments.
Lifting government lockdowns last year should have caused millions of Americans to return to work and raised average incomes. That didn’t happen. Real median pre-tax household income fell $402 last year to $70,784 and was $2,024 lower than in 2019. The total number of workers didn’t budge between 2020 and 2021.
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