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
This photograph shows a Dassault Rafale aircraft parked on the tarmac of the French Air and Space Force Luxeuil-Saint-Sauveur Airbase in Saint-Sauveur, France, on March 18, 2025. (Ludovic Marin/AFP via Getty Images)