The leap in their fortunes is thanks to the Trump tax cuts and lower interest rates.
Follow Harlan Green on Twitter: https://twitter.com/HarlanGreen However, building more immigration and trade barriers won't
Get your pitchforks.
It wasn't until the Reagan tax cuts that we stopped investing in those important elements that made US the superpower, and a middle class with the highest standard of living in the developed world.
The rich have not only gotten wealthier since the financial crisis, but super-rich Americans have gotten disproportionately more wealthy than even the merely rich.
Moving right-to-work (for less) from the state to the county level is the latest tactic in the relentless campaign by CEOs and corporations to reverse gains made by workers in the 1930s New Deal.
The salaries at Pimco confirm what researchers have been saying about income inequality in America: far more than the 1 percent, it’s the skyrocketing compensation of the 0.1 and 0.01 percent that are driving the rise in income inequality. Everyone – from the merely highly-paid to low-wage workers – is losing ground to the new income elite.
And who has been the beneficiary of this middle-class misery? The top 0.1 percent of Americans, whose incomes have just kept
I turn now to the US case. Here, too, we have probate statistics from 1910-1920 on, and these have been heavily exploited
Harlan Green © 2013 Until 1970 wealth had been fairly evenly distributed so that the rising tide of economic growth lifted