Joe Stiglitz Explains How The US Tax System Has Become Less Progressive

Income inequality in the US has increased while the tax system has been made less progressive.  This is a double whammy for most Americans.  Their share of income has been decreasing while their share of the tax burden has been increased.  Most of the tax loopholes benefit the super-rich.  They are not available to the typical millionaire.  We would not be faced with reductions in social welfare programs if these loopholes were closed.  Stiglitz does a good job of identifying the major loopholes that need to be closed.