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Biden’s Policy to Increase the Tax Burden on Investment, Wages, and Job Creation
Every single economic school of thought agrees with the proposition that investment is a key factor in driving wages and growth.
Even foolish concepts such as socialism and Marxism acknowledge this relationship, though they want the government to be in charge of deciding where to invest and how much to invest (an approach that has a miserable track record).
Another widely shared proposition is that higher tax rates will discourage whatever is being taxed. Even politicians understand this notion, for instance, when arguing for higher taxes on tobacco.
To be sure, economists will argue about the magnitude of the response (will a higher tax rate cause a big effect, medium effect, or a small effect?).
But they’ll all agree that a higher tax on something will lead to less of that thing.
Which is why I always argue that we need the lowest-possible tax rates on the activities – work, saving, investment, and entrepreneurship – that create wealth and prosperity.
That’s why it’s so disappointing that Joe Biden, as part of his platform in the presidential race, has embraced class-warfare taxation.
And it’s even more disappointing that he specifically supports policies that will impose a much higher tax burden on capital formation.
How much higher? Kyle Pomerleau of the American Enterprise Institute churned through Biden’s proposals to see what it would mean for tax rates on investment and business activity.
Former Vice President and Democratic presidential candidate Joe Biden has proposed several tax increases that focus on raising taxes on business and capital income. Taxing business and capital income can affect saving and investment decisions by reducing the return to these activities and distorting the allocation across different assets,
forms of financing, and business forms. Under current law, the weighted average marginal effective tax rate (METR) on business assets is 19.6 percent… Biden’s tax proposals would raise the METR on business investment in the United States by 7.8 percentage points to 27.5 percent in 2021. The effective tax rate would rise on most assets and new investment in all industries. In addition to increasing the overall tax burden on business investment, Biden’s proposals would increase the bias in favor of debt-financed and noncorporate investment over equity-financed and corporate investment.
Here’s the most illuminating visual from Kyle’s report.
The first row of data shows that the effective tax rate just by almost 8 percentage points.
I also think it’s important to focus on the last two rows. Notice that the tax burden on equity increases by a lot while the tax burden on debt actually drops slightly.
This is very foolish since almost all economists will acknowledge that it’s a bad idea to create more risk for an economy by imposing a preference for debt (indeed, mitigating this bias was one of the best features of the 2017 tax reform).
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“Medicare for All” Would Copy the Bad Features of the U.K.’s Government-Run System
The so-called Green New Deal is only tangentially related to climate issues.
It’s best to think of it as the left’s wish list,
and it includes a paid leave entitlement, government jobs, infrastructure boondoggles, and an expansion of the already bankrupt Social Security system.
But the most expensive item on the list is “Medicare for All,” which is a scheme concocted by Bernie Sanders to have the government pay for everything.
Would this be a good idea? In a column for Forbes, Sally Pipes of the Pacific Research Institute explains that government-run healthcare in the United Kingdom has some very unfriendly features.
Nearly a quarter of a million British patients have been waiting more than six months to receive planned medical treatment from the National Health Service, according to a recent report from the Royal College of Surgeons. More than 36,000 have been in treatment queues for nine months or more. …Consider how long it takes to get care at the emergency room in Britain. Government data show that hospitals in England only saw 84.2% of patients within four hours in February. …Wait times for cancer treatment — where timeliness can be a matter of life and death — are also far too lengthy. According to January NHS England data, almost 25% of cancer patients didn’t start treatment on time despite an urgent referral by their primary care doctor. …And keep in mind that “on time” for the NHS is already 62 days after referral.
If this sounds like the VA health care system, you’re right.
Both are government run. Both make people wait.
And both produce bad outcomes. Here’s some of the data from the British system.
Unsurprisingly, British cancer patients fare worse than those in the United States. Only 81% of breast cancer patients in the United Kingdom live at least five years after diagnosis, compared to 89% in the United States. Just 83% of patients in the United Kingdom live five years after a prostate cancer diagnosis, versus 97% here in America.
Just like I told Simon Hobbs on CNBC many years ago.
The best part of Sally’s column is that she explains how the flaws in the U.K. system are being copied by Bernie Sanders and other supporters.
Great Britain’s health crisis is the inevitable outcome of a system where government edicts, not supply and demand, determine where scarce resources are allocated. Yet some lawmakers are gunning to implement precisely such a system in the United States. The bulk of the Democratic Party’s field of presidential candidates — including Senators Kirsten Gillibrand, Kamala Harris, and Elizabeth Warren — co-sponsored Senator Bernie Sanders’s 2017 “Medicare for All” bill. That plan would abolish private insurance and put all Americans on a single government-run plan… Britons face long waits for poor care under their country’s single-payer system. That’s not the sort of healthcare model the American people are looking for.
The bottom line is that Medicare for All would further exacerbate the third-party payer problem that already plagues the health care system.
And that means ever-escalating demand, rising costs, and inefficiencies.
There are only two ways of dealing with the cost spiral. One option is huge tax increases, which would result in a massive, European-style tax burden on the lower-income and middle-class taxpayers.
Taxpayers in the U.K. endure higher burdens than their counterparts in America, But they also suffer from the second option for dealing with the cost spiral, which is rationing.
Some of the data was in Ms. Pipes’ column.
If you want more examples (and some horrifying examples), you can click stories from 2017, 2016, 2015, 2014, 2013, and 2012.
Milton Friedman On Charlie Rose (Part One)
The late Milton Friedman discusses economics and otherwise with Charlie Rose.
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Milton Friedman: Life and ideas – Part 01
Milton Friedman: Life and ideas
A brief biography of Milton Friedman
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Stossel – “Free to Choose” (Milton Friedman) 1/6
6-10-10. pt.1 of 6. Stossel discusses Milton Friedman’s 1980 book, “Free to Choose”, which was smuggled in and read widely in Eastern Europe during the Cold War by many countries under Soviet rule. Read and admired the world over by the likes of Margaret Thatcher and Ronald Reagan, this book served as the inspiration for many of the Soviet sattellite countries’ economies once they achieved freedom after the fall of the Soviet Union.
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Milton Friedman on Medical Care [1/6]
Milton Friedman and Ronald Reagan were two of my heroes and I know that you can learn a great deal from their lives and their economic philosophies. I suggest checking out these episodes of Milton Friedman’s film series FREE TO CHOOSE: “The Failure of Socialism” and “What is wrong with our schools?” and “Created Equal” and From Cradle to Grave, and – Power of the Market.
What’s the Half-Life of a “Temporary” Tax Increase?
July 1, 2013 by Dan Mitchell
Milton Friedman famously noted that, “Nothing is so permanent as a temporary government program”and Ronald Reagan sagely observed that “a government bureau is the nearest thing to eternal life we’ll ever see on this earth.”
Two great AmericansThey’re both right, but they should have included the other half of the fiscal equation. Repealing a tax, even a “temporary tax,” is just as difficult as getting rid of wasteful spending.
Simply stated, once politicians get access to a source of additional revenue, it’s feeding time at the zoo and good luck getting them to give the money back. Here’s a sobering example from Philadelphia.
Skeptics say there’s no such thing as a “temporary” tax. Like the two-year property tax increase City Council passed in 2010 that, lo and behold, is still with us. Or another dreaded levy: the wage tax. It was passed in 1939 as a short-term fix for the city’s finances, but succeeding generations have nonetheless been forced to accept its bite in their paychecks. The latest tax under consideration for immortality is the 1 percent sales-tax increase the state allowed Philadelphia to impose in 2009 as a bridge through the recession.The increase – which raised the tax on most goods and services in Philadelphia from 7 percent to 8 percent – is slated to expire next June. City and state leaders are now talking about making the increase permanent, with the extra money being put toward one or both of the city’s greatest needs: the struggling School District and the vastly underfunded public employee pension fund.
The bulk of that excerpt is a straightforward recitation of how temporary tax hikes become permanent tax hikes, but I have to object to the final sentence. The “city’s greatest needs” are replacing the failed government education monopoly with school choice and reducing the excessive pensions for over-compensated government bureaucrats – such as the city’s former “managing director” (whatever that is), Camille Cates Barnett.
I also can’t resist commenting on the craven behavior of the city’s Chamber of Commerce. I though the national Chamber of Commerce was bad when it endorsed TARP and the faux stimulus, but the local Chamber may be even worse.
Joe Grace, director of public policy at the Greater Philadelphia Chamber of Commerce, said, “We have not seen any evidence that extending the 1 percent is going to have any negative impact on the local businesses.” The chamber is also backing a $2-a-pack cigarette tax dedicated to the schools. “Our belief is the School District needs resources,” Grace said. “We’re working, along with many others, to close the school-funding gap, really by any means necessary.”
So Mr. Grace thinks more funding for a failed education bureaucracy should be achieved by “any means necessary.” Well, I think a 100 percent tax rate on Mr. Grace should be at the top of the list.
Heck, if France can tax at 100 percent, then so can the City of Philadelphia, and Mr. Grace is a deserving recipient of such a levy.
But there are some opponents of the tax, though they’re not exactly libertarian heroes.
…members of the nearly all-Democratic Philadelphia delegation have raised concerns about using the 1 percent to help fund the schools because it lets the state off the hook for its share of education funding. Danilo Burgos, president of the Dominican Grocers Association, argued that giving sales-tax revenue to the schools was “a Band-Aid.” The state, which has control of the city’s schools, should be responsible for devising “a real solution for our schools.”
In other words, they want more money to waste, but they want to take it from people in the rest of the state.
Sort of reminds me of what the great Frederic Bastiat wrote more than 150 years ago, “The state is that great fiction by which everyone tries to live at the expense of everyone else.”
But if enough people act as if that fiction is reality, then you get too many people riding in the wagon and not enough people pulling the wagon. That’s a good description of what’s happening in places such as Philadelphia and Greece.
Related posts:Milton Friedman’s “Free to Choose” film transcripts and videos here on http://www.thedailyhatch.org
I have many posts on my blog that include both the transcript and videos of Milton Friedman’s film series “Free to Choose” and here are the episodes that I have posted.
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Here are the posts and you can find the links in order below this.
The Power of the Market from 1990
The Failure of Socialism from 1990
The Anatomy of a Crisis from 1980
What is wrong with our schools? from 1980
Created Equal from 1980
From Cradle to Grave from 1980
The Power of the Market 1980
Debate on Inflation from 1980
Milton Friedman is the short one!!!
Milton Friedman’s Free to Choose (1980), episode 3 – Anatomy of a Crisis. part 1
“The Power of the Market” episode of Free to Choose in 1990 by Milton Friedman (Part 5)
Milton Friedman The Power of the Market 5-5 How can we have personal freedom without economic freedom? That is why I don’t understand why socialists who value individual freedoms want to take away our economic freedoms. I wanted to share this info below with you from Milton Friedman who has influenced me greatly over the […]
“The Power of the Market” episode of Free to Choose in 1990 by Milton Friedman (Part 4)
Milton Friedman The Power of the Market 4-5 How can we have personal freedom without economic freedom? That is why I don’t understand why socialists who value individual freedoms want to take away our economic freedoms. I wanted to share this info below with you from Milton Friedman who has influenced me greatly over the […]
“The Power of the Market” episode of Free to Choose in 1990 by Milton Friedman (Part 3)
Milton Friedman The Power of the Market 3-5 How can we have personal freedom without economic freedom? That is why I don’t understand why socialists who value individual freedoms want to take away our economic freedoms. I wanted to share this info below with you from Milton Friedman who has influenced me greatly over the […]
“The Power of the Market” episode of Free to Choose in 1990 by Milton Friedman (Part 2)
Milton Friedman The Power of the Market 2-5 How can we have personal freedom without economic freedom? That is why I don’t understand why socialists who value individual freedoms want to take away our economic freedoms. I wanted to share this info below with you from Milton Friedman who has influenced me greatly over the […]
“The Power of the Market” episode of Free to Choose in 1990 by Milton Friedman (Part 1)
Milton Friedman The Power of the Market 1-5 How can we have personal freedom without economic freedom? That is why I don’t understand why socialists who value individual freedoms want to take away our economic freedoms. I wanted to share this info below with you from Milton Friedman who has influenced me greatly over the […]
Milton Friedman’s Free to Choose (1980), episode 3 – Anatomy of a Crisis. part 1
“Friedman Friday” EPISODE “The Failure of Socialism” of Free to Choose in 1990 by Milton Friedman (Part 5)
Milton Friedman: Free To Choose – The Failure Of Socialism With Ronald Reagan (Full) Published on Mar 19, 2012 by NoNationalityNeeded Milton Friedman’s writings affected me greatly when I first discovered them and I wanted to share with you. Abstract: Ronald Reagan introduces this program, and traces a line from Adam Smith’s “The Wealth of […]
“Friedman Friday” EPISODE “The Failure of Socialism” of Free to Choose in 1990 by Milton Friedman (Part 4)
Milton Friedman: Free To Choose – The Failure Of Socialism With Ronald Reagan (Full) Published on Mar 19, 2012 by NoNationalityNeeded Milton Friedman’s writings affected me greatly when I first discovered them and I wanted to share with you. Abstract: Ronald Reagan introduces this program, and traces a line from Adam Smith’s “The Wealth of […]
“Friedman Friday” EPISODE “The Failure of Socialism” of Free to Choose in 1990 by Milton Friedman (Part 3)
Milton Friedman: Free To Choose – The Failure Of Socialism With Ronald Reagan (Full) Published on Mar 19, 2012 by NoNationalityNeeded Milton Friedman’s writings affected me greatly when I first discovered them and I wanted to share with you. Abstract: Ronald Reagan introduces this program, and traces a line from Adam Smith’s “The Wealth of […]
“Friedman Friday” EPISODE “The Failure of Socialism” of Free to Choose in 1990 by Milton Friedman (Part 2)
Milton Friedman: Free To Choose – The Failure Of Socialism With Ronald Reagan (Full) Published on Mar 19, 2012 by NoNationalityNeeded Milton Friedman’s writings affected me greatly when I first discovered them and I wanted to share with you. Abstract: Ronald Reagan introduces this program, and traces a line from Adam Smith’s “The Wealth of […]
“Friedman Friday,” EPISODE “The Failure of Socialism” of Free to Choose in 1990 by Milton Friedman (Part 1)
Milton Friedman: Free To Choose – The Failure Of Socialism With Ronald Reagan (Full) Published on Mar 19, 2012 by NoNationalityNeeded Milton Friedman’s writings affected me greatly when I first discovered them and I wanted to share with you. We must not head down the path of socialism like Greece has done. Abstract: Ronald Reagan […]
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“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 7of 7)
TEMIN: We don’t think the big capital arose before the government did? VON HOFFMAN: Listen, what are we doing here? I mean __ defending big government is like defending death and taxes. When was the last time you met anybody that was in favor of big government? FRIEDMAN: Today, today I met Bob Lekachman, I […]
“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 6of 7)
worked pretty well for a whole generation. Now anything that works well for a whole generation isn’t entirely bad. From the fact __ from that fact, and the undeniable fact that things are working poorly now, are we to conclude that the Keynesian sort of mixed regulation was wrong __ FRIEDMAN: Yes. LEKACHMAN: __ or […]
“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 5 of 7)
MCKENZIE: Ah, well, that’s not on our agenda actually. (Laughter) VOICE OFF SCREEN: Why not? MCKENZIE: I boldly repeat the question, though, the expectation having been __ having been raised in the public mind, can you reverse this process where government is expected to produce the happy result? LEKACHMAN: Oh, no way. And it would […]
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“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 4 of 7)
The massive growth of central government that started after the depression has continued ever since. If anything, it has even speeded up in recent years. Each year there are more buildings in Washington occupied by more bureaucrats administering more laws. The Great Depression persuaded the public that private enterprise was a fundamentally unstable system. That […]
“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 3 of 7)
Worse still, America’s depression was to become worldwide because of what lies behind these doors. This is the vault of the Federal Reserve Bank of New York. Inside is the largest horde of gold in the world. Because the world was on a gold standard in 1929, these vaults, where the U.S. gold was stored, […]
“Friedman Friday” (Part 16) (“Free to Choose” episode 3 – Anatomy of a Crisis. part 2 of 7)
George Eccles: Well, then we called all our employees together. And we told them to be at the bank at their place at 8:00 a.m. and just act as if nothing was happening, just have a smile on their face, if they could, and me too. And we have four savings windows and we […]
“Friedman Friday” (“Free to Choose” episode 3 – Anatomy of a Crisis. part 1of 7)
Milton Friedman’s Free to Choose (1980), episode 3 – Anatomy of a Crisis. part 1 FREE TO CHOOSE: Anatomy of Crisis Friedman Delancy Street in New York’s lower east side, hardly one of the city’s best known sites, yet what happened in this street nearly 50 years ago continues to effect all of us today. […]
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Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 6 of transcript and video)
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 6 of 6. Volume 6 – What’s Wrong with our Schools Transcript: FRIEDMAN: But I personally think it’s a good thing. But I don’t see that any reason whatsoever why I shouldn’t have been required […]
Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 5 of transcript and video)
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 5 of 6. Volume 6 – What’s Wrong with our Schools Transcript: Are your voucher schools going to accept these tough children? COONS: You bet they are. (Several talking at once.) COONS: May I answer […]
Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 4 of transcript and video)
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 4 of 6. Volume 6 – What’s Wrong with our Schools Transcript: It seems to me that if one is truly interested in liberty, which I think is the ultimate value that Milton Friedman talks […]
Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 3 of transcript and video)
Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 3 of transcript and video) Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 3 of 6. Volume 6 – What’s Wrong with our Schools Transcript: If it […]
Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 2 of transcript and video)
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 2 of 6. Volume 6 – What’s Wrong with our Schools Transcript: Groups of concerned parents and teachers decided to do something about it. They used private funds to take over empty stores and they […]
By Everette Hatcher III | Also posted in Vouchers | Edit | Comments (1)
Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 1 of transcript and video)
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 1 of 6. Volume 6 – What’s Wrong with our Schools Transcript: Friedman: These youngsters are beginning another day at one of America’s public schools, Hyde Park High School in Boston. What happens when […]
By Everette Hatcher III | Also posted in Vouchers | Tagged hidden weapons, hyde park high school, hyde park., state of vermont, vivid illustration | Edit | Comments (0)
Free to Choose by Milton Friedman: Episode “Created Equal” (Part 7 of transcript and video)
Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present. This is a seven part series. Created Equal [7/7]. Milton Friedman’s Free to Choose […]
Free to Choose by Milton Friedman: Episode “Created Equal” (Part 6 of transcript and video)
Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present. This is a seven part series. Created Equal [6/7]. Milton Friedman’s Free to Choose […]
“Friedman Friday” Free to Choose by Milton Friedman: Episode “Created Equal” (Part 5 of transcript and video)
Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present. This is a seven part series. Created Equal [5/7]. Milton Friedman’s Free to Choose […]
Free to Choose by Milton Friedman: Episode “Created Equal” (Part 4 of transcript and video)
Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present. This is a seven part series. Created Equal [4/7]. Milton Friedman’s Free to Choose […]
Friedman Friday” Free to Choose by Milton Friedman: Episode “Created Equal” (Part 3 of transcript and video)
Friedman Friday” Free to Choose by Milton Friedman: Episode “Created Equal” (Part 3 of transcript and video) Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other […]
Free to Choose by Milton Friedman: Episode “Created Equal” (Part 2 of transcript and video)
Free to Choose by Milton Friedman: Episode “Created Equal” (Part 2 of transcript and video) Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are […]
Free to Choose by Milton Friedman: Episode “Created Equal” (Part 1 of transcript and video)
Milton Friedman and Ronald Reagan Liberals like President Obama (and John Brummett) want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present. This is a seven part series. […]
Milton Friedman The Power of the Market 2-5
Milton Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 7 of 7)
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen. TEMIN: We don’t think the big capital arose before the government did? VON HOFFMAN: Listen, what are we doing here? I mean __ defending big government is like defending death and taxes. […]
Milton Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 6 of 7)
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen worked pretty well for a whole generation. Now anything that works well for a whole generation isn’t entirely bad. From the fact __ from that fact, and the undeniable fact that things […]
Milton Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 5 of 7)
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen. PART 5 of 7 MCKENZIE: Ah, well, that’s not on our agenda actually. (Laughter) VOICE OFF SCREEN: Why not? MCKENZIE: I boldly repeat the question, though, the expectation having been __ having […]
Milton Friedman Friday: (“Free to Choose” episode 4 – From Cradle to Grave, Part 4 of 7)
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen. PART 4 of 7 The massive growth of central government that started after the depression has continued ever since. If anything, it has even speeded up in recent years. Each year there […]
By Everette Hatcher III | Edit | Comments (0)
Milton Friedman Friday: (“Free to Choose” episode 4 – From Cradle to Grave, Part 3 of 7)
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen. PART 3 OF 7 Worse still, America’s depression was to become worldwide because of what lies behind these doors. This is the vault of the Federal Reserve Bank of New York. Inside […]
By Everette Hatcher III | Edit | Comments (0)
Milton Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 2 of 7)
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen. For the past 7 years Maureen Ramsey has had to buy food and clothes for her family out of a government handout. For the whole of that time, her husband, Steve, hasn’t […]
Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 1 of 7)
Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 1 of 7) Volume 4 – From Cradle to Grave Abstract: Since the Depression years of the 1930s, there has been almost continuous expansion of governmental efforts to provide for people’s welfare. First, there was a tremendous expansion of public works. The Social Security Act […]
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“Friedman Friday” (“Free to Choose” episode 1 – Power of the Market. part 7 of 7)
Michael Harrington: If you don’t have the expertise, the knowledge technology today, you’re out of the debate. And I think that we have to democratize information and government as well as the economy and society. FRIEDMAN: I am sorry to say Michael Harrington’s solution is not a solution to it. He wants minority rule, I […]
“Friedman Friday” (“Free to Choose” episode 1 – Power of the Market. part 6 of 7)
PETERSON: Well, let me ask you how you would cope with this problem, Dr. Friedman. The people decided that they wanted cool air, and there was tremendous need, and so we built a huge industry, the air conditioning industry, hundreds of thousands of jobs, tremendous earnings opportunities and nearly all of us now have air […]
“Friedman Friday” (“Free to Choose” episode 1 – Power of the Market. part 5 of 7)
Part 5 Milton Friedman: I do not believe it’s proper to put the situation in terms of industrialist versus government. On the contrary, one of the reasons why I am in favor of less government is because when you have more government industrialists take it over, and the two together form a coalition against the ordinary […]
“Friedman Friday” (“Free to Choose” episode 1 – Power of the Market. part 4 of 7)
The fundamental principal of the free society is voluntary cooperation. The economic market, buying and selling, is one example. But it’s only one example. Voluntary cooperation is far broader than that. To take an example that at first sight seems about as far away as you can get __ the language we speak; the words […]
“Friedman Friday” (“Free to Choose” episode 1 – Power of the Market. part 3 of 7)
_________________________ Pt3 Nowadays there’s a considerable amount of traffic at this border. People cross a little more freely than they use to. Many people from Hong Kong trade in China and the market has helped bring the two countries closer together, but the barriers between them are still very real. On this side […]
“Friedman Friday” (“Free to Choose” episode 1 – Power of the Market. part 2 of 7)
Aside from its harbor, the only other important resource of Hong Kong is people __ over 4_ million of them. Like America a century ago, Hong Kong in the past few decades has been a haven for people who sought the freedom to make the most of their own abilities. Many of them are […]
“Friedman Friday” (“Free to Choose” episode 1 – Power of the Market. part 1of 7)
“FREE TO CHOOSE” 1: The Power of the Market (Milton Friedman) Free to Choose ^ | 1980 | Milton Friedman Posted on Monday, July 17, 2006 4:20:46 PM by Choose Ye This Day FREE TO CHOOSE: The Power of the Market Friedman: Once all of this was a swamp, covered with forest. The Canarce Indians […]
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Milton Friedman The Power of the Market 1-5
Debate on Milton Friedman’s cure for inflation
If you would like to see the first three episodes on inflation in Milton Friedman’s film series “Free to Choose” then go to a previous post I did. Ep. 9 – How to Cure Inflation [4/7]. Milton Friedman’s Free to Choose (1980) Uploaded by investbligurucom on Jun 16, 2010 While many people have a fairly […]
By Everette Hatcher III | Also posted in Current Events | Tagged dr friedman, expansion history, income tax brackets, political courage, www youtube | Edit | Comments (0)
“Friedman Friday” Milton Friedman believed in liberty (Interview by Charlie Rose of Milton Friedman part 1)
Charlie Rose interview of Milton Friedman My favorite economist: Milton Friedman : A Great Champion of Liberty by V. Sundaram Milton Friedman, the Nobel Prize-winning economist who advocated an unfettered free market and had the ear of three US Presidents – Nixon, Ford and Reagan – died last Thursday (16 November, 2006 ) in San Francisco […]
What were the main proposals of Milton Friedman?
Stearns Speaks on House Floor in Support of Balanced Budget Amendment Uploaded by RepCliffStearns on Nov 18, 2011 Speaking on House floor in support of Balanced Budget Resolution, 11/18/2011 ___________ Below are some of the main proposals of Milton Friedman. I highly respected his work. David J. Theroux said this about Milton Friedman’s view concerning […]
“Friedman Friday,” EPISODE “The Failure of Socialism” of Free to Choose in 1990 by Milton Friedman (Part 1)
Milton Friedman: Free To Choose – The Failure Of Socialism With Ronald Reagan (Full) Published on Mar 19, 2012 by NoNationalityNeeded Milton Friedman’s writings affected me greatly when I first discovered them and I wanted to share with you. We must not head down the path of socialism like Greece has done. Abstract: Ronald Reagan […]
Defending Milton Friedman
What a great defense of Milton Friedman!!!! Defaming Milton Friedman by Johan Norberg This article appeared in Reason Online on September 26, 2008 PRINT PAGE CITE THIS Sans Serif Serif Share with your friends: ShareThis In the future, if you tell a student or a journalist that you favor free markets and limited government, there is […]
Milton and Rose Friedman “Two Lucky People”
Milton Friedman on Hayek’s “Road to Serfdom” 1994 Interview 2 of 2 Uploaded by PenguinProseMedia on Oct 26, 2011 2nd half of 1994 interview. ________________ I have a lot of respect for the Friedmans.Two Lucky People by Milton and Rose Friedman reviewed by David Frum — October 1998. However, I liked this review below better. It […]
Video clip:Milton Friedman discusses his view of numerous political figures and policy issues in (Part 2)
Milton Friedman on Hayek’s “Road to Serfdom” 1994 Interview 1 of 2 Uploaded by PenguinProseMedia on Oct 25, 2011 Says Federal Reserve should be abolished, criticizes Keynes. One of Friedman’s best interviews, discussion spans Friedman’s career and his view of numerous political figures and public policy issues. ___________________ Here is a review of “Two Lucky People.” […]
Milton Friedman believed in liberty (Interview by Charlie Rose of Milton Friedman part 1)
Charlie Rose interview of Milton Friedman My favorite economist: Milton Friedman : A Great Champion of Liberty by V. Sundaram Milton Friedman, the Nobel Prize-winning economist who advocated an unfettered free market and had the ear of three US Presidents – Nixon, Ford and Reagan – died last Thursday (16 November, 2006 ) in San Francisco […]
“The Failure of Socialism” episode of Free to Choose in 1990 by Milton Friedman (Part 1)
Milton Friedman: Free To Choose – The Failure Of Socialism With Ronald Reagan (Full) Published on Mar 19, 2012 by NoNationalityNeeded Milton Friedman’s writings affected me greatly when I first discovered them and I wanted to share with you. We must not head down the path of socialism like Greece has done. Abstract: Ronald Reagan […]
Volume 1: Power of the Market Volume 2: The Tyranny of Control
Volume 3: Anatomy of a Crisis
Volume 4: From Cradle to Grave
Volume 5: Created Equal
Volume 6: What’s Wrong With Our Schools?
Volume 7: Who Protects the Consumer?
Volume 8: Who Protects the Worker?
Volume 9: How to Cure Inflation
Volume 10: How to Stay Free
Updated 1990 Series:
Volume 1: The Power of the Market
Volume 2: The Tyranny of Control
Volume 3: Freedom & Prosperity
Volume 4: The Failure of Socialism
Volume 5: Created Equal
“Friedman Friday” Milton Friedman – Power of Choice (Biography) Part 3
Milton Friedman – Power of Choice (Biography) Part 3 Published on May 21, 2012 by BasicEconomics Tribute to Milton Friedman English Pages, 8. 9. 2008 Dear colleagues, dear friends, (1) It is a great honor for me to be asked to say a few words to this distinguished and very knowledgeable audience about one of our greatest […]
“Friedman Friday” Milton Friedman – Power of Choice (Biography) Part 2
Milton Friedman – Power of Choice (Biography) Part 2 Published on May 21, 2012 by BasicEconomics My Tribute to Milton Friedman: The Little Giant of Free Market Economics By: admin- 11/17/2006 09:49 AM RESIZE: AAA Milton Friedman, the intellectual architect of the free-market reforms of the post-World War II era, was a dear friend. I […]
“Friedman Friday” Milton Friedman – Power of Choice – Biography (Part 1)
Milton Friedman – Power of Choice – Biography (Part 1) Published on May 20, 2012 by BasicEconomics David R. Henderson The Pursuit of Happiness ~ Milton Friedman: A Personal Tribute May 2007 • Volume: 57 • Issue: 4 David Henderson (davidrhenderson1950@gmail.com) is a research fellow with the Hoover Institution and an economics professor at […]
Milton Friedman’s Chicago Boys started the Chilean Miracle and it is still helping ordinary people today!!!
Milton Friedman and Chile – The Power of Choice Uploaded on May 13, 2011 In this excerpt from Free To Choose Network’s “The Power of Choice (2006)”, we set the record straight on Milton Friedman’s dealings with Chile — including training the Chicago Boys and his meeting with Augusto Pinochet. Was the tremendous prosperity unleashed […]
Margaret Thatcher admired Milton Friedman
RARE Friedman Footage – On Keys to Reagan and Thatcher’s Success Margaret Thatcher and Milton Friedman were two of my heroes. Thatcher praises Friedman, her freedom fighter By George Jones, Political Editor 12:01AM GMT 17 Nov 2006 A tireless champion of the free market Let’s not get misty eyed over the Friedman legacy Milton Friedman, […]
Milton Friedman and Chile an update
Milton Friedman was a great economist and a fine speaker. ___________________ I have written before about Milton Friedman’s influence on the economy of Chile. Now I saw this fine article below fromhttp://www.heritage.org and below that article I have included an article from the Wall Street Journal that talks about Milton Friedman’s influence on Chile. I […]
“Friedman Friday” Milton Friedman explains negative income tax to William F. Buckley in 1968
December 06, 2011 03:54 PM Milton Friedman Explains The Negative Income Tax – 1968 0 comments By Gordonskene enlarge Milton Friedman and friends.DOWNLOADS: 36 PLAYS: 35 Embed The age-old question of Taxes. In the early 1960′s Economist Milton Friedman adopted an idea hatched in England in the 1950′s regarding a Negative Income Tax, to […]
Milton Friedman admired Margaret Thatcher
RARE Friedman Footage – On Keys to Reagan and Thatcher’s Success Margaret Thatcher and Milton Friedman were two of my heroes. Milton Friedman on How Francois Mitterrand (and Failed Lefty Economics) Helped Re-elect Margaret Thatcher Matt Welch|Apr. 10, 2013 9:37 am Yesterday I wrote a column about how Margaret Thatcher liberated Western Europe from the […]
Milton Friedman had a solution to today’s welfare mentality!!!
I have written about the tremendous increase in the food stamp program the last 9 years before and that means that both President Obama and Bush were guilty of not trying to slow down it’s growth. Furthermore, Republicans have been some of the biggest supporters of the food stamp program. Milton Friedman had a […]
“Friedman Friday” Milton Friedman on “Firing Line” in 1968
Milton Friedman, Ronald Reagan And William F. Buckley Jr. Peter Robinson, 12.12.08, 12:01 AM EST In a time of crisis, don’t forget what they had to say. As the federal deficit surpasses $1 trillion, Congress debates a bailout for the Detroit automakers and President-elect Barack Obama draws up plans for a vast new stimulus package, […]
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