In America between 1945 and 1975, the trend in incomes was going up because of strong labor unions, increased labor productivity, and liberal government economic policies. One important policy kept the percentage rise in incomes at the same level for all income earners. That doesn’t mean everyone’s income went up by the same number of dollars. If a laborer earning $20,000 per year had a 5% rise in income, her income went up by $1,000; but if a business owner earning $80,000 per year had a 5% rise, his income went up by $4,000. Between 1945 and 1975, laborers and the wealthy received the same percent increase in income, so prosperity would be shared.

After 1975, things changed. Incomes continued to rise just as they had in the post-war period, but, because of different economic policies, t

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