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View Diary: It Should Never Have Come to This (76 comments)

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  •  Chronology (1+ / 0-)
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    It was the income tax changes, social safety nets, and other economic policies that were enacted to avoid another Great Depression that led to that health ratio of average hourly compensation to per capita GDP that we had in 1958. Since then we have dismantled the framework of the New Deal and witnessed the gap steadily increase.
    The gap first significantly appears between 1960 and 1970, right in the middle of the huge growth in social spending that is the Great Society series of programs.

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