Bombur
VIP Member
- Jan 9, 2014
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The middle class start shrinking when Reagan lowered taxes for the rich. This transferred trillions of dollars of wealth from the middle class to the wealthy. From 1942 to 1982 the top 10% controlled 35% of the wealth. Now they control 60% of the wealth. In the last 30 years 80% of the increase in after tax income has gone to the top 10%. This was by design. Reagan's own budget director, David Stockman, said that the Reagan tax cuts were a "Trojan Horse" to lower taxes for the rich.
probably had more to do with Europe and Japan recovering from WW2 than taxes.