The causes and consequences of 30 years of increasing inequality

The constraints on policy choices resulting from our unprecedented deficits

The psychological and economic factors that have led to our present version of the realization rule

The theoretical possibility of adjusting tax burdens to reflect different amenities in different areas of the country

Intergenerational (in)equity as reflected in the Social Security tax-and-transfer program

How our tax system would function in a world of deflation

Substantial changes bring the third edition of this casebook up to date and pick up new strands of scholarly discussion. Many chapters include new excerpts that emphasize political considerations and explore topics such as: