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That will certainly be compounded by the demise of the estate tax. That said it’s not like intergenerational wealth is a new thing, wouldn’t that be the case wa
by marricks 8y ago
That will certainly be compounded by the demise of the estate tax. That said it’s not like intergenerational wealth is a new thing, wouldn’t that be the case way before the 70s?
It seems the trickle down economics approach taken since the 70s from both Democrats and Republicans hasn’t really helped anyone but the rich.
- metalchianti 8y agoThe same inter-generational wealth logic would apply pre-1970s. I think that 1970 is used as a starting point because that's also when real wages started dropping relative to production output. I'm don't think it's fair to blame US politics. I bet this is a universal phenomenon.
- marricks 8y agoYour argument is wealthy inequality has been rising universally since the birth of the USA? It’s not hard to find a chart and it was OK and exploded since the 70s, perhaps coincidentally with trickle down economics and neoliberalism. https://static-ssl.businessinsider.com/image/54610db56da811360c3cf8af-960-720/the-swings-in-inequality-over-the-twentieth-century-are-even-more-dramatic-when-looking-at-wealth-rather-than-income.jpg https://static-ssl.businessinsider.com/image/54610db56da8113...
- conanbatt 8y agoUsually economists are obsessed with the Reagan administration, its quite remarkable.