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
Crown Prince of Saudi Arabia Mohammad bin Salman al-Saud makes a speech during the forty-third Gulf Cooperation Council Summit in Riyadh, Saudi Arabia, on December 9, 2022. (Royal Court of Saudi Arabia/Handout/Anadolu Agency via Getty Images)