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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (43387)5/24/2010 2:46:41 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: "Rate of advance of the middle class, is a complex idea."

Yes, it certainly is.

(But I'll stick with *real* increases to wages and/or wealth for my short-hand definition.)

Re: "particularly strong in the 50s and 60s. It took place in an environment with much less regulation, with lower effective total tax rates for much of the middle class"

Yes on the first (though I doubt that that was anything like a DETERMINATIVE effect) and mark me down as DUBIOUS on the second claim....

Far more important (IMO) were these factors:

1) After-effects of WW II. Our commercial competition in Europe and Asia had seen their economies devastated, their productive capacity destroyed... leaving America propelled to the top of the heap proportionately. (A never to be repeated advantage....)

2) Population boom. (Plenty of trained workers.) Education boom (GI Bill.) Cheap energy with US at peak rates of oil production, (very low-priced).

3) Interstate highway system, transcontinental transportation links knitting a more efficient continental-level economy together.

4) Reduction in military spending. (Capital diverted to productive growth of the economy.) Tax rates remained relatively high and surpluses devoted to paying down of federal debt.

5) Technological innovation.

Etc.

Re: "...in the 50s and 60s. It took place in an environment with much less regulation, with lower effective total tax rates for much of the middle class" & "...The higher tax rates didn't help the growth of the middle class...."

Sounds like you are talking out of both sides of your mouth there. <g> (Which was it? 'High' or 'Low?)
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