Well, there’s a simple fix. Since 1970, the standard of living for 90% of the population in the US has been stagnant or declining. We have absolutely increased our GDP, our productivity, and our total economic output. But all the gains have gone to the top 10%. You could tax all economic growth past the 1970 level at 100%, and 90% of the country wouldn’t even notice.
Well, there’s a simple fix. Since 1970, the standard of living for 90% of the population in the US has been stagnant or declining. We have absolutely increased our GDP, our productivity, and our total economic output. But all the gains have gone to the top 10%. You could tax all economic growth past the 1970 level at 100%, and 90% of the country wouldn’t even notice.