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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President Vladimir Putin holds a videocall with Chinese President Xi Jinping in Moscow on January 21, 2025. (Gavriil Grigorov/AFP via Getty Images)