After top tax rated were drastically cut early in the 80s
rewards for greedy behavior were vastly increased.
While top tax rates were around 90% from the end of WWII to the beginning of the Reagan Presidency
productivity doubled and incomes at all levels doubled.
After top tax rates were drastically cut
productivity doubled again from the 80s to today
incomes at the top increased by factors of 10 to 100 to 1000 and more!
while age adjusted individual incomes of everybody else remained stagnant
spouses entering the workforce kept up the illusion of prosperity until 10 years ago
when irresponsible lending practices prolonged job growth and this illusion of prosperity
until the bubble finally burst
which is where we are today
and how we got here.