Rikurzhen
Gold Member
- Jul 24, 2014
- 6,145
- 1,292
- 185
The decline began with Ronald Reagan's "Trickle Down" Supply Side economics, It continued through the Clinton Administration and reached the crisis level during the Bush years.When the left wing uses terms like "American workers" it sounds like the same old Marxist crap we have been hearing from the radical left for half a century. The median income for the middle class dropped 8% since Barry Hussein was elected. How long will the left be able to blame Bush?
What is needed to reverse this trend is a resurgence of the union movement and a purge of legislators who serve the interests of the 99%.
No, the decline began in the 70s. It's logically impossible for an effect to precede the cause, wouldn't you say? When this does occur that's a good sign that you've misdiagnosed the cause.
Secondly, all you're focusing on here is tax policy, which means that you have to make a huge conceptual leap to tie it to declining wage growth.
The parsimonious explanation is that the influx of women into the labor force, combined with opening the immigration floodgates in 1965 led to a slowing of wage growth due to increased competition in the labor market.
The timing here works, the theory works - supply and demand is down at the bedrock level of levers that we can pull to affect wage levels.
Time to readjust your argument so that it actually lines up with the facts, no matter how ideologically unpleasant the implications may be to you.