Thomas Piketty On The Rise Of Bernie Sanders: The US Enters A New Political Era

Democrats never truly challenged this choice in the Clinton (1992-2000) and Obama (2008-2016) years, which stabilized the taxation rate at around 40% (two times lower than the average level for the period 1930 to 1980). This triggered an explosion of inequality coupled with incredibly high salaries for those who could get them, as well as a stagnation of revenues for most of America – all of which was accompanied by low growth (at a level still somewhat higher than Europe, mind you, as the old world was mired in other problems).