It was the best of times ...

They say everything looks good when you are young. I've been challenged here for thinking that the '50s and '60s were the good times. This was recently posted by my financial advisor.
Since he is quoting a RAND report, I'll reproduce one chart.

Well, I was born in 1945 just at the start of that jump in income equality. When it started to end in 1982, I was 27.

Notice the correlation between the highest tax rate and GDP growth? The opposite of Ronald Reagan's claims. Of course, there were other factors in the 1950's. The USA was the only industrial nation that was unbombed. The Marshall Plan (opposed by conservatives) guaranteed a European market for American goods, the Cold War and Space Race provided huge funding for higher education and high tech manufacture.

Still, what has happened with wealth transfer to the 1%? as Mr.Bond points out, a booming stock market and decreasing income for working people.

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travelerxxx's picture

That's a tremendous article, Voice. Thanks for bringing it to our attention.

I'm going to check out more of what they've written after some sleep.

By the way, that was written by your financial advisor?

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We are so screwed.