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Anyone notice the stupendous similarity, not to say identity, between Barack’s proposed tax policies, and Milton Friedman’s negative income tax? In the former case, Obama would lower income taxes for just about everyone, except of course for those who make the greatest contributions to the economy and to society. But what about the really poor, who now pay no income taxes at all? It would be unfair not to give them any tax reduction benefits, of course, at least for the Democrats. So, B.O. will give them a tax benefit in the form of a subsidy. But, is this not precisely the Friedman negative income tax plan? Thus, it would appear, Obama is a Friedmanite, or, Friedman was a precursor to Obama. Take that, all you critics of those of us who have long considered Friedman to be a socialist (on that see here, here, here, here, here, and here). When Ludwig von Mises walked out of a session at the first meeting of the Mont Pelerin Society, saying "You’re all a bunch of socialists," it was presumably some version of this plan to which he was objecting.
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