Our acute fiscal, debt, and income inequality problems begin in the 1980’s, gained momentum in the 90’s, and accelerated in the first decade of the 21st century.
The non-partisan Congressional Budget Office did a study, once upon a time, on income maintenance among the citizens. The CBO findings were: “by the end of 1988, 80 percent of families will have seen their incomes decline since 1977 when adjusted for inflation, CBO concluded. But the richest 10 percent will see an average increase of 16 percent, the top 5 percent will average a 23 percent rise, and the richest 1 percent will see their incomes grow by 50 percent.
The year of the report was 1987.