A century ago we had the Great Depression, followed by a major application of regulation, followed by the biggest and longest boom in middle-class history in the US.

In the 80s we started massive deregulation including killing Glass-Steagall, opening up banks to so destroy the global economy that we're having this discussion today.

Your history of regulation and relative wealth is backwards.

Edit: I'll acquiesce that the tax code is laughable, but mostly in how upper-class income tax levels are half what the middle class pays.