Michael J. Graetz is a professor of law at Columbia Law School and the Justus S. Hotchkiss Professor of Law Emeritus at Yale University. He has previously published seven books and many articles on a wide range of public policy issues.
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The postwar United States enjoyed large, widely distributed economic rewards—and most Americans accepted that taxes were a reasonable price to pay for living in a society of shared prosperity. Then in 1978 California enacted Proposition 13, a proper... SEE MORE