Down The Memory Hole – Paul Krugman Blog

Here’s a rough-cut ver­sion. The blue line, left scale, shows median fam­ily income in 2008 dol­lars; the red line, right scale, shows the top mar­ginal tax rate, a rough indi­ca­tor of the over­all stance of pol­icy. Basi­cally, US post­war eco­nomic his­tory falls into two parts: an era of high taxes on the rich and exten­sive reg­u­la­tion, dur­ing which liv­ing stan­dards expe­ri­enced extra­or­di­nary growth; and an era of low taxes on the rich and dereg­u­la­tion, dur­ing which liv­ing stan­dards for most Amer­i­cans rose fit­fully at best.

via Down The Mem­ory Hole – Paul Krug­man Blog. When in doubt just re-write his­tory to make it fit your version.

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