Dwight D. Eisenhower on tax cuts and a balanced budget (Forbes, Feb. 28, 2013)
With some bumps along the way, this is the economy that the Baby Boom generation grew up in, a much more egalitarian economy than exists now. We grew up knowing that with a high school education and hard work, we could get a job that would lead to owning our own home, kids in college, etc. Since the tax cuts of Kennedy, Nixon, Reagan, Bush II, and now, Trump, things have steadily worsened. We are far from egalitarian and the old American Dream.
The lowered tax rates have had a lot to do with that, fostering as they do, increased income inequality and concomitant reduction in class mobility (people moving up and down in income). AOC is right, as was Bernie Sanders: we need to increase the tax rates on wealth and high incomes.