Monday, May 23, 2016

By All Means, Let's Make America Great Again

I saw this graphic the other day on vox.com.



It occurred to me that when I read about folks who say they want to make America great again, or who want to take back their country, they seem to mean the post-war United States of the late 40s and 1950s, extending into the 60s and perhaps even the early 70s.  Looking at the Vox graph, that time coincides nicely with the period where the income of the top 1% of earners was at its lowest point.  In fact, it's only as income inequality really takes off that we move into the era where, apparently, America lost its mojo. 

So count me in.  Let's close the loop holes, end carried interest, return the estate tax to its pre-Bush levels, raise taxes on investment income, and increase the top marginal rate on wage income.  Heck, let's get rid of the FICA cap while we're at it.  By the very admission of these folks who seek greatness, the United States was never better than when there was less income inequality and more social mobility. Let's give them what they want.  America will be better for it.

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