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forces changing the economy. and you were my student. i taught you everything you know. i wouldn t take credit for that. well, that actually lays a high burden on you in a lot of ways. i don t take responsibility. you shouldn t. but those things that you wrote about that i was trying to help you figure out some of the data for, were big things that were happening back then, the late abili80s. they are accelerating now. the things that are driving income inequality. tax policy can affect that on the margins, you know. new eitc could affect that on the margins. if you believe income inequality is a big problem, there s got to be a much bigger solution than most of the things we talk about, whether you re a democrat or a republican. these solutions seem very small to the scale of the problem, and the forces that are driving it. globalization, that kind of
smarter you are, the better educated you are, the more money you make. and that s happening across the developed and underdeveloped world. these are big forces, globalization, the information revolution. these are big huge forces. presidents do not control them. you can do things. there s still an argument for tax fairness. make that argument. you re right. but you re not going to fix the tidaled forces of the global economy by moving the top tax rate from 39% to 35% or the other way around. you can feel better about yourself, and at end of date you can say i m doing something to try to make the world more fair. but, mike, this goes back to the postwar world. a lot of soldiers come home after world war ii. they fill up factories. union membership grows to 33%, 34%, 35%. the middle class grows, and it te continues to grow until the early 1970s and we realize that the steel factories are moving to japan.
national standard as opposed to each state doing their own. you can imagine as a business trying to develop products for each state. that prospect was something that we didn t like very much. daunting, yeah. so we worked with the administration and came up with one national standard on fuel economy. and even though it s a tough standard, it s something that we feel very good about because we can now plan toward it. john heilemann? i have a question that s a bit off message but i can t help ask it anyway. i m sure it is. i m not going to be surprised. well, i read somewhere that you guys are going to do a radical remakover of the mustngg to appeal to the younger generation. and i want to know what they would have to do to appeal to you. well, i live in new york, so a mustang doesn t do you much good. look at that. great car. but there s no doubt, obviously, that one of the appeals for one of the best ways to appeal to people that are younger than me is to be
the policies of bill clinton, george w. bush. it has to do with technology. it has to do with i.t. revolution. it has to do with the fact that you don t have bank tellers anymore. it has to do with the fact that you don t have 20 people in dry cleaning stores. absolutely. because until we get our arms around this fact and stop trying to point at a republican president or a democratic president, we re not going to understand this is a trend that goes back to the early 1970s. well, partly to mark s chart, which is a little bit it s also kind of confusing because it talks just about ceos and doesn t talk about the income gap. the income gap, the income inequality has grown for the last 30 years under all presidents for exactly the reasons that you just said. ceos are kind of a different case. they are part of the problem, but they are as i say their compensation is still linked to the stock market. and why is it it s being driven by technology and the fact that there s incre