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I hold nothing but compassion and solidarity for those who follow.
I want things to be easier for them, not as hard or harder than they were for us.
Story:
Just had a really painful conversation with my Boomer in-laws. They refuse to see acknowledge how bad things are for us and blame us for our failure to thrive like they got to, after receiving a six-figure cash injection back in the 80s from their parents, which is all gone now with their frivolous spending.
In the US, 1950-1980 is the era of lowest wealth inequality in the countries history. The top tax rate reached 91% in that time period. It is currently around 37%. Us poors had it worse before then, and have it worse after then. They won a birth lottery. Source: Thomas Piketty's 'Capital in the 21st Century'
And now that it’s lower the billionaires are happy to pay their fair share and society is better off for it. /s
Do you have a source for that? I found this source that is citing data from the congressional budget office. SOURCE (I followed the link and did confirm the numbers match). I made a quick plot so it was easier to see trends. Nothing stands out to me about 1983 - there's a small dip and then a course correction back towards the upwards trajectory, but this data tells us nothin about wealth inequality. We can't use total values because of inflation and such , probably have to use revenue as a %GDP or something but I'm too lazy too keep searching at the moment :) My immediate thought looking at the plot is this: If the total tax rev kept going up, and the top tax rate was cut, then the increased tax burden must have shifted to the poorer classes; I'd have to verify but it seems like a logical conclusion.