These policies only served to consolidate wealth around a few as the economy naturally grew, creating the illusion that if the average American did not feel economically advantaged, it was their fault.
Income inequality bottomed in 1968 and has been rising at about the same slope ever since. It has continued on this path regardless of what party is in office and through radical shifts in tax policy.
Ergo, we can conclude that it has nothing to do with partisan politics, but is systemic in nature. We might be able to stop it by becoming Luddites, but it’s doubtful anything else will work.