You’re comparing decades of productivity going to capital to debt incurred within the last half decade (“Here's where the money went”).
The US does have a lot of sovereign debt, no doubt, but that’s not why Labor isn’t seeing a greater share of the productivity gains since the 70s. A loss of collective labor power and 10% of the country owning 89% of public equities gets us here.
To arrived at an improved end state, one would need more unions and labor organizing, as well as perhaps ratcheting down the work week to 4 days.
I presented a chart going back to 1970. It covers the time period in question. It shows an enormous increase in government per-person spending. Why do you think that has nothing to do with where did the money from the productivity increase go?
> why Labor isn’t seeing a greater share of the productivity gains since the 70s
Globalization seems like a major factor that's often ignored for that. We had productivity gains. We didn't benefit from them as much as expected because people in Asia had bigger productivity gains. Joe six pack now competes with people in China working 996 instead of just his neighbors like in the 70s.