During the Reagan years, middle-class salaries increased about 40 to 50 percent, while the “one percenters” at the top saw their salaries increase 2,000 percent or more.
But increases in the cost of living, even inflated housing costs became a worry, at least in the back of the minds of many in the middle class.
Salaries had begun to level out; I would say some were quickly reaching a point of flat-lining. Something didn’t add up. Life was still OK. Although taxes were still high, they were less than historic rates.
While working stiffs thought their taxes were high and public education poor, the CEOs agreed and placed their kids in charter schools, more appropriately called private schools, because, after all, their kids deserved the best, right?
And with a huge increase in salaries, CEOs could afford that new luxury car, McMansion in the country, and sending the children to private school.
I understand why taxes are hard for the middle class?
Now, please explain to me the sacrifices of the one percenters.