Friday, November 17, 2006

Remembering Milton Friedman

This is for the tax cuts for the rich crowd:

“I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.”

This one is for the minimum wage lovers:

"The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. Yet it is largely a result of minimum wage laws. We regard the minimum wage law as one of the most, if not the most, antiblack laws on the statute books."

And these two go to my protectionist friends:

“Most economic fallacies derive - from the tendency to assume that there is a fixed pie, and that one party can gain only at the expense of another.”

“The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.”

And finally, the best one:

"There is all the difference in the world, however, between two kinds of assistance through government that seem superficially similar: first, 90 percent of us agreeing to impose taxes on ourselves in order to help the bottom 10 percent, and second, 80 percent voting to impose taxes on the top 10 percent to help the bottom 10 percent -- William Graham Sumner's famous example of B and C decided what D shall do for A. The first may be wise or unwise, an effective or ineffective way to help the disadvantaged -- but it is consistent with belief in both equality of opportunity and liberty. The second seeks equality of outcome and is entirely antithetical to liberty."

So simple, yet so many still don’t understand.

He will be missed.