09-28-2016, 09:04 PM
(This post was last modified: 09-28-2016, 09:05 PM by Warren Dew.)
(09-27-2016, 06:54 PM)Mikebert Wrote:Warren Dew Wrote:It was in the 1930s that wealth inequalities really started skyrocketing.See page 56 here:
http://gabriel-zucman.eu/files/SaezZucman2014.pdf
Sorry, I was misremembering this figure:
![[Image: dear-rich-folks-get-ready-for-a-tax-revo...n-away.jpg]](http://static6.businessinsider.com/image/4ded3176ccd1d5097e120000-506-253/dear-rich-folks-get-ready-for-a-tax-revolution-in-which-your-money-will-be-taken-away.jpg)
I have a larger version on my other computer but can't find it online at the moment.
So what this shows is that the inequality built up gradually in the 1920s, along with the booming economy, but only the top 1% - including the top 0.1% - lost much of their gain in the crash. The top 10% held on to their gains until WWII, though contrary to what I said they didn't continue gaining.
The bottom line is still the same: the labor unions' purpose was to protect the well off union workers against the nonunionized poor, and they did that successfully throughout the 1930s, with the help of FDR.
Your source and pbrower2a's source show the same facts as mine.