A major tradeoff in tax policy debates is about equity vs. efficiency. One view says it's fair to tax high-income people at a higher rate, even at the expense of greater DWL. Another view says the U.S. has already gone too far in that direction. Please describe more completely what are these tradeoffs. Describe what considerations might justify a more progressive tax system, and what other considerations might justify more concern for economic efficiency. How can society appropriately balance these considerations?