You Want To Prove That Milton Friedman

We Are Having The Single Worst Recovery The U.s. Has Had Since The Great Depression. I Don't Care How You Measure It. The East Coast Knows It. The West Coast Knows It. North, South, Old, Young, Everyone Knows It's The Worst Recovery Since The Great Depression.

I Think The Inflation Prospects For The U.s. Over The Next Five Or Six, Seven Years, Are Quite Serious. You Cannot Have A Bumper Crop In Apples Without The Value Or The Price Of Each Apple Falling. The Fed Has Had The Largest Increase In The Monetary Base In The History Of The U.s., From Colonial Times To The Present, Times Ten.

If You Look At The Performance Of The Zero-income-tax-rate States And The Highest-income-tax-rate States, I Believe A Large Amount Of Their Difference Is Due To Taxes. Not Only Is It True Of The Last Decade, But I Took These Numbers Back 50 Years. And, There's Not One Year In The Last 50 Where The Zero-income-tax-rate States Have Not Outperformed The Highest-income-tax-rate States.

With The Shrinking Of The Us Economy, And It's Shrinking Very Rapidly, You Not Only Have More Money, But You Also Have Fewer Goods. That's A Classic Double-whammy On Inflation.

Let's Take The Nine States That Have No Income Tax And Compare Them With The Nine States With The Highest Income Tax Rates In The Nation. If You Look At The Economic Metrics Over The Last Decade For Both Groups, The Zero-income-tax-rate States Outperform The Highest-income-tax-rate States By A Fairly Sizable Amount.