We worry about growing inequality and the dwindling middle class, and advocate various policies to reverse these trends. And yet at the same time, we talk about reducing or eliminating the tax deduction that does the most to promote a more equal distribution of economic well-being.
Caption
Cover: Edited version of US Air Force, US Navy, and US Marine Corps aircraft along with US Army Patriot missile batteries line up on the runway for an elephant walk during a routine operational readiness exercise at Kadena Air Base in Japan on May 6, 2025. (US Air Force)