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Uh...since when is Milton Friedman an Austrian? To the OP, this has been raised a number of times: The Crisis That Wasn't How Do Austrians Explain the Post-WW2 Economy? GDP growth during the high tax periods in the '50's Postwar Booms WWII...
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Alright I think I figured out what the problem was. I found this blog post talking about the topic and in the comments, somebody claimed that while productivity is measured using the GDP deflator, real wages are measured using CPI. I graphed it and deflated...
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Marko: Also excluding wage earners who earn too little to pay income tax is wrong. They probably still have a greater percentage of their earnings taken away in taxes than wealthy people. Sales tax, traffic tickets, municipal fees, vices tax, etc disproportionally...
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Capitalism and Communism share a flaw: although they work amazingly well on paper Don't let her get away with this. Tons of people say it while it simply isn't true: Communism/socialism has been disproved numerous times! It does not look good...