Milton Friedman - Redistribution of Wealth

Milton Friedman clears up misconceptions about wealth redistribution, in general, and inheritance tax, in particular. http://www.LibertyPen.com

Source: Milton Friedman Speaks
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• Category

  News & Politics

[xxCCBBxx]

I wish Friedman was alive to critique Obama.

[sbtbfanatic]

Milton Friedman really put that whiny hippie in his place!

[Kathleen Leon]

I'm in love with Milton Friedman. Please God send a man like him to be our next President; amen and AMEN!

[Jarkko Ohaniemi]

So wealthy people paying either 40% or 50-55%, that's the big difference? Between "fair" capitalism and all evil socialism? You still can be rich here, you can still make a ton of money if you have a great business idea, but also the ones not that fortunate get to go to school and get medical attention if they need to, and we practically don't have any homeless.

And have a look at our GDP per capita, national debt and other figures.

40% and those conditions for the rest is a really bad deal.

[Jarkko Ohaniemi]

And about tax rates, the American model is often considered as the optimal (of the existing ones at least) model for "progress" and a healthy economy, consisting of a maximum tax rate of 40% and the money spent on i.a. wars overseas.

A lot of people say that the Nordic model on the other hand, consisting of a max. tax rate of 55% (Finland) and the money spent on free education, free healthcare and other welfare, destroys incentive, ruins the economy and so on.

[Jarkko Ohaniemi]

Almost every single currency suffers from inflation, and I'm not an expert on money mechanics, but I think our way of creating new money is the same as in US. And euro is governed pretty much the same way as the US dollar (Finland is the only one of Nordic countries that uses euro though).

[63Bueno]

you dont have a federal reserve constantly devaluing your currency...ANd it does destroy incentive...thats not even an arguement...

[ericlord821]

Even though I don't often agree with Friedman, he pretty much put this kid into the ground on the inheritance tax debate.

[Heather McClure]

Man, that ginger was a bit uppity. lol