MOSTLY MISSING THE MARK.
The world does have a growing problem with inequality, but I think it has more to do with emergence of knowledge work over factory work, AI and automation. NOT primarily Gov taxing or policies.
Regan's lowering of top income bracket certainly made the rich richer. But lowering corporate taxes is a double edge sword, since it also boost the whole US economy too. Indeed I used the video at the end to compare median incomes of Canada, Germany and France relative to the USA in 1980 and 2020.
Canada went from 89% of usa to 90% of USA.
Germany 77->83%. France 70-79%.
So France was more behind the USA and caught up a bit more. But these countries did NOT have trickle down economics, and they have greater equality and socialized services, yet did not have medians growing much more than us. This is not about trickle down economics.
We DO have a growing inequality problem. But the driver is the changing nature of technology and the changing nature of jobs.
And it is only going to WORSE, since we are at the beginning of the automation revolution.
