Some keen insights made by Walter Williams. As the head of the Economics Department of George Mason University and a Senior Fellow of the Mercatus Institute, Williams has distinguished himself as one of America’s great treasures. His perspectives are always fresh, succinct, and entertaining.
Milton Friedman on why we will be unable to reform our tax system any time soon. What’s astounding is the fact that he gave this speech in 1978, and it is every bit as true today as it was then. Truly, nothing has changed. The positions of left and right have remained unchanged, politicians have remained the same, and we the people have learned precious little. He explains the Laffer Curve perfectly, long before Art Laffer described it. He discusses how each side of the debate would not only be willing to make this compromise, but in fact was actively clamoring for it. He describes what would happen should the compromise ever take place, and the net result on how the politicians would react to its implementation. What’s noteworthy, is that this reform did take place in 1986, had a tremendously positive result, and the national reaction by the political class happened just like Dr. Friedman’s predictions.
Mark Levin discusses the current condition of our economic state here in America using recent Obama campaign remarks as a backdrop. More specifically, the idiotic observation that recent economic reports from our various government agencies represent, “a step in the right direction.”