How do you do this in Photoshop? I am using Photoshop cc and Illustrator and I am in the process of learning. Can anyone teach me how to do that text effect shown in the picture? thanks!
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You can do this in Illustrator by simply stacking fills and adjusting them via the Appearance Panel.
Transform effect for each fill, simply moves the fill vertically so they are off-center.
That's an example of the subtractive color synthesis. In illustrator you can do that by using a subtractive blend mode like multiply in the transparency panel:
To prove the concept I'm using 3 text elements filled with cyan, magenta and yellow. When all the layers overlap, they subtract from each other resulting in black