“An income tax intended to reduce inequality and promote the diffusion of wealth has in practice fostered reinvestment of corporate earnings, thereby favoring the growth of large corporations, inhibiting the operation of the capital market, and discouraging the establishment of new enterprises.”

—  Milton Friedman

Source: (1962), Ch. 13 Conclusion, 2002 edition, p. 198

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Milton Friedman 158
American economist, statistician, and writer 1912–2006

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