I had a feeling someone would dredge up a basic calculator and make this argument. The problem with your retort is it ignores the very context I outlined above

I had a feeling someone would dredge up a basic calculator and make this argument. The problem with your retort is it ignores the very context I outlined above. The present rate of inflation appears more manageable, but because most of it is driven by absurd inflation in shelter and transport costs (homes and cars), those two areas are starkly higher than inflation overall - as much as 50% or more, in some metros. So while your napkin math makes for a good soundbite, the reality is that it just hides the complex truth of inflation. So yes, while $45k might be inflation-equivalent to $73k today, that purchasing power is significantly different. $43k in the 2000s could buy you a starter home in most states, albeit not in most metros; nowadays, $73k can’t even cover basic necessities in many states and all metros, not without significant sacrifices. So my point still stands.