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Milton Friedman (who is a few steps above AOC when it comes to economic policy knowledge): "All things considered, the personal income tax structure that seems
by briandear 8y ago
Milton Friedman (who is a few steps above AOC when it comes to economic policy knowledge):
"All things considered, the personal income tax structure that seems to me best is a flat-rate tax on income above an exemption... I would combine this program with the abolition of the corporate income tax, and with the requirement that corporations be required to attribute their income to stockholders, and that stockholders be required to include such sums on their tax returns. The most important other desirable changes are the elimination of percentage depletion on oil and other raw materials, the elimination of tax exemption of interest on state and local securities, the elimination of special treatment of capital gains, the coordination of income, estate, and gift taxes, and the elimination of numerous deductions now allowed."
However, this won't happen because those on the left and the right (i.e. "politicians") use the tax code as a means for punishing and rewarding to garner favor with contributors to their political campaigns.
Here's Friedman speaking on that: https://youtu.be/TruCIPy79w8?t=13 https://youtu.be/TruCIPy79w8?t=13
- millstone 8y agoHuh? Many prominent economists support progressive income taxes. Heck even Adam Smith.
- geofft 8y ago> Milton Friedman (who is a few steps above AOC when it comes to economic policy knowledge): AOC has a degree from Boston University in economics. Friedman was a professional economist, of course, but as in any field there are lots of professional researchers with strong opinions in lots of directions, and we still listen to the folks with bachelor's degrees. You can find many computer scientists with many opinions on programming languages, but you wouldn't ignore people who got a bachelor's in CS simply because the professional researchers exist. (Otherwise we'd just shut down this site and read journals all day.)
- masonic 8y agoAOC has a degree from Boston University in economics. Wikipedia says "International Relations and Economics", which is not the same as graduating as an Economics major.
- geofft 8y agoCorrect. It's not the same thing. It's a double major. It means she's as qualified as someone who solely majored in economics, but she worked even harder.
- jki275 8y agoYou're really arguing that someone with a bachelor's degree is equivalent to one of the foremost researchers in the field, who oh by the way has a Nobel Prize in Economics? We're not talking about "opinions on programming languages", we're talking about science. And if we're going to argue over CS, I'll take Knuth over any 30 year old with a BSCS.