No, we're seeing no such thing. The constants when the middle class was stronger were unionization and a higher marginal tax rate. Beginning with Reagan there have been 3 major tax cuts that disproportionately helped the wealthy. Dubya and Trump signed the other two. And the GOP union busting history is well known and inarguable.
If you weren't so determined to push your repeatedly discredited 'the Dems did it' argument you could have gone to the conclusion of the article you posted and learned that the only president cited by name for contributing to income inequality is Trump.
Conclusion
The rise between 1973 and 2007 in top 1 percent incomes relative to the bottom 99 percent represents a sharp reversal of the trend that prevailed in the mid-20th century. Between 1928 and 1973, the share of income held by the top 1 percent declined in every state except Alaska (data for Alaska are not available for 1928). This earlier era was characterized by a rising minimum wage, low levels of unemployment after the 1930s, widespread collective bargaining in private industries (manufacturing, transportation, telecommunications, and construction), and a cultural, political and legal environment that kept a lid on executive compensation in all sectors of the economy.
Today, unionization and collective bargaining levels are at historic lows not seen since before 1928 (Freeman 1997; Bivens et al. 2017). The federal minimum wage purchases fewer goods and services than it did in 1968 (Cooper 2017). Meanwhile CEO pay has gone from 20 times greater than typical workers’ pay in 1965 to 271 times greater in 2016 (Mishel and Schieder 2017).27
Policy choices and cultural forces have combined to put downward pressure on the wages and incomes of most Americans even as their productivity has risen (Bivens and Mishel 2015; Levy and Temin 2007). As a result, CEOs and executives at the commanding heights of the private economy have appropriated a rising share of the nation’s expanding economic pie, setting new norms and expectations for high-level compensation that are being emulated among nonprofit hospital executives, college presidents, surgeons, and lawyers.
The gains of those at the top have come at the expense of the vast majority of working families. The Economic Policy Institute’s The State of Working America, 12th Edition, found that between 1979 and 2007, had the income of the middle fifth of households grown at the same rate as overall average household income, it would have been $18,897 higher in 2007—27.0 percent higher than it actually was (Mishel et al. 2012).28
Yet more troubling, the rapid rise in top incomes in this new gilded age—which started as a rise in labor income for top executives—has, since 2000, been driven by capital income derived from the ownership of assets (Piketty, Saez, and Zucman 2018a). The idle rich in America are in ascendance at a time when—more than in most other advanced countries—the children of affluent parents typically grow up to be affluent, and the children of the poor remain poor (Corak 2012). Today at elite colleges more students come from families in the top 1 percent of the income distribution than from the bottom 50 percent (Chetty et al. 2017). Meanwhile U.S. public colleges have become increasingly unaffordable, further limiting opportunity for children of lower-income households (Huelsman 2018).
Federal policy in the last year has also changed in ways that are likely to further increase income inequality. The Trump administration has abandoned a rule that would have expanded automatic eligibility for overtime to 12.5 million workers, ensuring that they would be paid time-and-a-half when they work more than 40 hours in a week (Shierholz 2017).
The administration has delayed the implementation of the fiduciary rule, which requires investment advisers to act in their clients’ best interests (Shierholz and Zipperer 2017). The administration has also sided with corporate interests seeking to permit companies to force workers to sign arbitration agreements with class action waivers—forcing workers to give up their right to file class action lawsuits, taking them out of the courtrooms and into individual private arbitration when their rights on the job are violated (McNicholas 2017). Finally, the Tax Cuts and Jobs Act passed in December 2017 is expected to distribute 83 percent of its benefits to the top 1 percent (TPC 2017). All of these actions are a step in the wrong direction if the country is going to shrink the gap between those at the top and everyone else.
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