- Jul 2014
1930 - 1980 distribution of wealth becomes less concentrated, middle class has an increasingly larger share of the total wealth, every year.Take a stats course, goober. Correlation is not causality. There are other reasoned arguments to make that explain why wage growth was higher then than now.
We can start with the basics of supply and demand. There were far fewer workers available for good paying jobs back then. Women and minorities were effectively excluded from the work force for all but certain, lower paying jobs. Add to that the availably of off-shore labor over the last two decades; with information technology, managers need not be in the same physical location as those they manage. In short, the glory days of wage growth you describe was a time when employers had their choice of domestic, white men. Shorter supplies (of labor) mean higher prices (wages).
1981-present distribution of wealth becomes more concentrated, middle class share of wealth decreases every year.
Correlation with tax rates is 100% over an 89 year period, that's a hefty indicator to be dismissing, based on nonsense dogma......