This chart seems a bit concerning.

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The Pitchforks Are Coming…

Yes, our economic situation is not healthy. The fist step, as argued, would be $15 minimum wage.

Nah. I'm not big on the minimum wage, because it does cause problems (i.e., it makes it cheaper to replace people with machines).

No, what we need is to bring back the 90+% top tax bracket. Use it to pay for things like better education and better health care.

Most importantly, it dis-incentivizes the kind of rent-seeking behavior that has been driving the income gap.

Ask yourself: what changed since the "good old days"? It's not that the minimum wage (adjusted for price levels) have fallen dramatically--they have remained roughly the same. It's that the top tax backet is now paying only a third of the taxes they used to, and they are still whining about their taxes being too damn high.