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.
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A production line of the Glide, a high-altitude glider that delivers munitions across thousands of miles, is seen at the defense tech startup Mach Industries in Huntington Beach, California, on September 11, 2025. (Getty Images)