I was born in 1954, so I didn't directly experience the New Deal. But it was my immense good fortune to be born into the payoff.
(Tried to insert an image of a graph of income growth of the middle class, but it looks like it's blocked for offsite linkage. See the report linked below, page 59.)
From a Pew report The Lost Decade of the Middle Class
You really weren't aware of the post War boom and the huge expansion of the middle class? An expansion made possible by a balance of unionization, government-financed higher education (e.g. GI Bill), and government-guaranteed mortgages (VA and traditional FNMA). Interesting, too, is the fact that the top marginal tax rates peaked at 91% in 1960, in the midst of the greatest period of sustained prosperity in American history.
Sorry you missed it ;-)
Current Events » in reply to Question
I guess it depends on your age
The whole thread (51 posts)
- Okay, I would like to start a thread and I would really like it to stay on topic, if at all possible.
- "Middle-out" Economics.
- Simple, Right to Work Laws
- You might have better luck on Current Events
- Unions, collective bargaining, and the right to strike.
- Yeah, I think we all owe a debt to unions.
- I don't think that is realistic anymore, ER.