the-milton-friedman-question.html#comment-4290669

Michael Hudson: Milton Friedman was indeed a propagandist. Toward that end, he invited my then-boss, Herman Kahn, to join the UI/Chicago faculty around 1975. Herman was himself a great ideological salesman. (I learned a lot from him.)

When Herman and his wife Jane met with Friedman, Jane asked whether there weren't some services that were appropriate for government — such as protecting widows and orphans, or sick in need of medical help. Friedman replied: "Mrs. Kahn, why do you want to subsidize the supply of widows and orphans, or the sick?"
Herman decided not to go to Chicago, despite his ideological sympathy with Friedman.

June Zaccone
National Jobs for All Network
http://www.njfac.org

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[NJFAC] top 400 richest Americans now taxed less than general population

Report shows top 400 richest Americans now taxed less than general population by Edward Lempinen, University of California - Berkeley https://phys.org/news/2025-09-richest-americans-taxed-general-population.html edited by Lisa Lock, reviewed by Andrew Zinin September 8, 2025

Total effective tax rates for the 400 wealthiest Americans have declined sharply in recent years, and they now pay a smaller percentage of their true income in taxes than the average American, according to new economic research from UC Berkeley.

For that highest cadre of the economic elite—the top 0.0002%—the effective tax rate fell from 30% in 2010–2017 to 23.8% in 2018–2020, says the new research. The wealthy paid lower overall taxes because they were able to shelter more of their business income from taxes, and on the income they did report, tax rates were lower, the authors said.

"When taking a comprehensive view of taxation and income, ultra-high-net-worth individuals appear less taxed than the average American," they concluded.

The findings were reported in "How Much Tax Do U.S. Billionaires Pay? Evidence from Administrative Data," a working paper from the National Bureau of Economic Research. The research was conducted by influential faculty economists Emmanuel Saez, Danny Yagan and Gabriel Zucman, and by UC Berkeley Ph.D. student Akcan S. Balkir....

June Zaccone
National Jobs for All Network
http://www.njfac.org

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