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Brad DeLong Mastodon
Today’s America: 3 million business owners worth an average of $25 million each, notables in their towns but not individually visible to the nation. And more than half the rise in the top 1% share since 1985 flowed through the pass-through businesses that was a “tax efficiency innovation” feature of the Reagan Revolution. The Reagan Revolution promised faster growth in exchange for lower taxes on the rich. The rich won; the growth never showed up: **Passthrough Tax Loopholes & the Rise... 1/
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