“But if you are the rich people in a democratic society where most people believe in reduced inequality, what kind of tax code do you want? You want to start with an overall progressive structure (so the people won’t revolt), and then you want a boatload of exceptions to that structure that (a) favor the rich and (b) can be individually defended on plausible (and sometimes even reasonable) grounds. Which is what we’ve got.”
(Via The Baseline Scenario.)
Best summary of our tax code I’ve ever heard or read. Democracy is chess, not checkers. If you aren’t playing, you get played. Simple as that.