Obama's First Surrender on Inequality

How can we expect to fight inequality if we're unwilling to close loopholes -- like 529 college savings plans -- that tilt toward the wealthy?

Depends how you define it.

Photographer: Jamie Squire/Getty Images

The White House is right: Abandoning President Barack Obama's proposal to end the tax exemption for some college savings accounts doesn't much affect the budget. But his reversal in the face of widespread criticism matters a lot from another perspective: It demonstrates the shallowness of the inequality conversation.

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