When there was REAL economic growth in America in the 1950's and 1960's and there were low government deficits and little money supply expansion, EVERYBODY'S income and standard of living rose dramatically.
When economic growth is fuelled by an exponential rise in debts and money supply expansion (as from circa 1980) only the rich benefit.
The total amount of debt (the total money supply) rose from about $6tn in 1980 to $68tn in 2007.
Total money supply 1970 to 2012
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