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The philosophical underpinning of the current American progressive tax system (aka marginal utility theory for beginners). We’ll look at data on who’s actually
bearing the tax load, where actual income growth has occurred over the last several decades, and data on changes in the New York tax system over the last several decades. We’ll talk about the impact of unchecked inequality on the US political system, the economic inefficiency of the growing inequality, and address concerns about progressive taxation, ”fleeing millionaires” and the myth of layoffs at “small” businesses.