Reply #3: I think the turning point was the end of the cold war...

[Blue Meany]

Before that, the American elites had an interest in having a large middle class as a bulwark against socialism in this country and to support the argument that capitalism that delivered greater prosperity to the masses than socialism. They were willing to pay higher taxes and higher wages in order to avoid upsetting the system that kept them wealthy. However, from their perspective, the rasion d'etre for the middle class ended during the Reagan Administration, since there was no viable threat to their wealth on the horizon, and they were quite happy to transform the US into a giant third world banana republic. I'm convinced that this will change only if there is a movement to sieze their wealth or hold them accountable under the law; then they may be willing to compromise like they did in the postwar period and allow the economy to flourish.