“We shouldn’t be social engineering through the tax code” also, let’s social engineer a tax cut for CEO pay by “linking” it to “performance”,i.e., rising stock prices. Thus began the era of stock buy backs as a way to socially engineer tax cuts for higher CEO pay.
That’s not even a course correction. The trend moves continuously upward, even with the short drops after big spikes. Come back when we see it moving back towards the Jimmy Carter levels, thanks.
It's important to note, though, that once the GOP took the House in '94, Newt Gingrich made it impossible to get good stuff done. That's how we ended up with DOMA and DADT.
That was basically the period of everyone learning how to use computers. It was the computing revolution. Great wealth was produced by *everyone* adapting and contributing to a sea change in our economy and the nature of work. The vast majority of that wealth went to very few people.
…and Most Favored Nation status for China, which Clintonites and neoliberals told us, would lead to the crumbling of the communist regime and the blossoming of democracy. Uncle Miltie’s fable is that Capitalism & Freedom are inextricably intertwined; instead, they are in constant tension.
Comments
https://robertreich.substack.com/p/personal-history-why-ceo-pay-exploded
https://www.politico.com/agenda/story/2016/08/bill-clinton-ceo-pay-reform-000195/
Also, DOMA, DADT, ...