Posted at Hartmann Report on Jun. 29, 2025
The impact of tax policy on the American Dream: The Hidden History of the American Dream
The maintenance and growth of a middle class depends on wages rising over time, both to keep up with inflation and to steadily improve the lot of working people, as America saw between 1933 and 1981. But working-class wages have been steadily declining ever since the Reagan Revolution, and it can’t entirely be attributed to the GOP’s war on organized labor.
It turns out that income taxes are another way conservative and neoliberal policies have taken a chunk out of the income and wealth of working people, but not in the way you probably think.
In fact, income taxes affect working class people in a completely different way than they impact the morbidly rich.